Newport Beach Real Estate Market Update

by Vince Bindi on March 19, 2010

This Market Update report is all real estate currently active for sale and properties sold in the recent past for Newport Beach. This market report is brought to you by the professional realtors at eVantage Real Estate here in Orange County, CA. Currently there are 367 detached single family homes listed for sale, and these properties have median price of $1,990,000 and an average price per square foot of $618 . These properties range in price from a low of $269,000 for a 2 bedroom, 2 bath, 998 square foot home located subdivision called Cannery Village Mobile Park . The maximum price of homes currently listed for sale is $95,000,000 for a fine estate boasting of 8 bedrooms, 14 baths, with 29,000 square feet of living area, and is situated in the Back Bay Custom Homes area.

For condominiums, there are now 166 units active for sale in Newport Beach . The median price of these condos is $859,000 and the average price per square foot is $647 . These condominiums range in price from a low of $239,000 for a unit comprising of 1 bedroom, 1 bath, 502 square foot, that is found in the Versailles Tract. Up to a maximum price of $2,950,000 for a roomy condo consisting of 3 bedrooms, 3 baths, with 3,508 square feet found in the Harbor Ridge Estates.

For homes now pending in contract in Newport Beach there are 87 detached homes in escrow, which have a median price of $1,490,000 . These properties range in price from a low of $550,000 for a 3 bedroom, 2 bath, 1,600 square foot property located in the Back Bay Anniversary Homes. The maximum price is $9,950,000 for a fine property incorporating 5 bedrooms, 7 baths, with an expansive 6,150 square feet of living area, located in the Lido Island.

There are 57 Condo units now pending in escrow in Newport Beach , that have a median price of $474,500 . These units range in price from $295,000 for a 2 bedroom, 3 bath, 1,157 square foot condominium, situated in the Newport Terrace Subdivision. On up to a high price of $1,995,000 for a fine condo comprised of 3 bedrooms, and 3 baths, with 2,700 square feet, found in the Harbor Ridge Estates.

For Sold home in the past 3 months, there were 85 detached properties that closed escrow in Newport Beach . These sold homes had a median price of $1,275,000 with an average price per square foot of $572 . These sold homes ranged in value from a low price of $142,000 for a detached home with 2 bedrooms, and 1 baths, incorporating 1,000 square feet, located in the Lido Park Subdivision. And a maximum price of $5,550,000 for an estate property comprising of 5 bedrooms, 6 baths, and a spacious 2,979 square feet located in Balboa Island.

For attached Condos Sold in the past 3 Months, there were 52 such units that succesfully closed escrow in Newport Beach , California. The median price of these attached units was $550,000 with an average price per square foot of $455 . These sold condominiums ranged in price from a low of $260,000 for a 1 bedroom, 1 bath, 493 square foot unit found in the Versailles condo Tract. The maximum priced sold condo was $1,900,000 for a nice unit comprised of 2 bedrooms, 3 baths, and 1,864 square feet found in the Lido Building.

If you have any questions regarding homes or condominiums for sale in Newport Beach , please feel free to contact us at: (949) 388-3396, or email us at: [email protected] . Or visit our Newport Beach Homes for Sale Website.