REO Property for Sale in Newport Beach | Bank Owned Homes for Sale in Newport Beach
Newport Beach REO home buyers often face the challenge of competing with multiple offers on the properties. This is not only happening with REO property but with traditional sales as well. Especially during this time, because there is such limited inventory in general. Also, Newport Beach REO or bank owned home buyers are competing with cash buyers when making an offer on the home.
The average sales price over the past one year is $743,731 and a price per square foot of $391.09.
Comparison from prior month is below.
2 active listings compared to 2 active in November, 2012 – the same
2 back up listing compared to 0 back up in November, 2012 – down -2
2 pending listings compared to 4 pending in November, 2012 – down -2
3 sold listings compared to 2 sold in November, 2012 – up +1
Market absorption rate is declining with the decrease in inventory.
Past month’s market reports:
See all Newport Beach REO Property for Sale.
(all data current as of 10/25/2014)
$1,599,000 : 1112 Westcliff Drive, Newport Beach5 beds, 4 full baths
$1,239,000 : 3013 Corte Portofino, Newport Beach3 beds, 2 full, 1 part baths
$971,800 : 415 38th Street, Newport Beach3 beds, 1 full bath
Listing information deemed reliable but not guaranteed. Read full disclaimer.