Newport Beach REO Market Update | January, 2013

by Sharon Paxson on February 21, 2013 · 0 comments

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.

Bayshores in Newport Beach

Currently there are 2 active listings, 2 back up, 1 pending and there was 1 sale in January, 2013.

The average sales price over the past one year is $552,604 and a price per square foot of $351.58.

The median price for REO property in Newport Beach for the past one year is $515,199 and $340.91 per square foot.

Comparison from prior month is below.

2 active listings compared to 2 active in December, 2012 – the same
2 back up listing compared to 2 back up in December, 2012 – the same
1 pending listings compared to 2 pending in December, 2012 – down -1
1 sold listings compared to 3 sold in December, 2012 –  down -2

Market absorption rate is declining with the decrease in inventory.

Newport Beach REO Property

Past month’s market reports:

January, 2012
December, 2012
November, 2012
October, 2012
September, 2012
August, 2012
July, 2012
June, 2012
May, 2012
April, 2012
March, 2012
February, 2012
January, 2012

Search the MLS for Newport Beach REO property, and Newport Beach homes for sale.

See all Newport Beach REO Property for Sale.
(all data current as of 10/22/2014)

  1. 5 beds, 4 full baths
    Home size: 3,000 sq ft
    Lot size: 10,019 sqft
    Year built: 1957
    Parking spots: 4
    Days on market: 2
  2. 3 beds, 2 full, 1 part baths
    Home size: 2,227 sq ft
    Lot size: 4,051 sqft
    Year built: 1988
    Parking spots: 4
    Days on market: 13
  3. 3 beds, 1 full bath
    Home size: 1,196 sq ft
    Lot size: 3,049 sqft
    Year built: 1946
    Parking spots: 4
    Days on market: 35

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Sharon Paxson

I write about my passion of living the SoCal lifestyle in beautiful Newport Beach. I like to write about the local events, beaches, restaurants, and real estate updates in the area. Call or text me - 949.280.0681

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