Real Estate Market Report - Newport Beach, CA (Nov, 2023)
Current Market Condition
203
Active Listings
32
Pending Listings
$3,875,000
Median List Price
The median sale/list price for properties shows an increasing trend in the first half of 2023, peaking at $3994000 in June, before declining slightly over the remaining months. However, the median price for rental properties shows a fluctuating trend with a peak price of $3190000 in September 2023 and a dip to $1446250 in November 2022.
Median Sale/List Price
The median sale price per square foot shows a steady increase from $847.899 in November 2022 to $1343.309 in August 2023, with a peak of $1211.997 in June 2023. However, the trend seems to reverse in the last two months with a slight decrease to $1118.812 in September and $1087.138 in October 2023.
Median Sale Price per Square Foot
The median sale price to list price ratio is expected to be relatively stable over the next year, with a range from 0.964 to 1.0. The lowest point is expected in January 2023, with a ratio of 0.964, while the highest point is expected in December 2022 and August 2023, with a ratio of 1.0.
Median Sale Price to List Price Ratio
The data shows the number of properties sold or listed per month over a 12-month period. The number of properties sold or listed ranged from 27 to 97 per month, with the highest number in June 2023. The data also shows that the number of properties sold or listed increased steadily from November 2022 to May 2023 before slightly decreasing in the following months.
Properties Sold/Listed
The median days on market for properties in this dataset fluctuated throughout the year, with a low of 15.5 days in August and a high of 49 days in September. The median days on market was relatively consistent from April to July, hovering around 27 days. However, January had significantly higher median days on market, with a value of 39.5 days.
Median Days on Market
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