November 2019 Newport Beach Real Estate Market Update | Bruce Clark Real Estate Agent

November 2019 Newport Beach Market Update

Here’s the Newport Beach, California November 2019 Monthly Market Report. Of note:  Median Price for all price ranges and types declined 15.8% to $2,270,000, with sales increasing 8.2% year-over-year. 42% of all homes listed for sale had their asking price reduced, and the Sales to List Price is at 95.8%. (Example: sellers reduced their sales price an average of 4.2% off the listing price: $2,000,000 listing price = $1,916,000 sales price.)

For Irvine, the Median Price declined 5.6% to $1,300,000; for all of Orange County, the Median Price increased 3.4%. As always, real estate is local:  some communities do better than others, but the fact we are experiencing some depreciation is something to take serious note of.

Want more information or an area/tract-specific report? Thinking of selling or buying? Call me at 949-285-1207; would love to be a part of your real estate plans.

Bruce Clark | Coldwell Banker Residential Brokerage
C:  949.285.1207
L:  CalRE #01503471

Post a Comment