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Newport Beach REO Homes for Sale | Market Update | March, 2013

Newport Beach REO Homes for Sale | Market Update | March, 2013

REO Property for Sale in Newport Beach | Bank Owned Homes for Sale in Newport Beach

Market report for March 2013.

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 0 back up 3 pending and there was 1 sale in March 2013.

The average sales price over the past one year is $751884 and a price per square foot of $401.49.

The median price for REO property in Newport Beach for the past one year is $607075 and $358.20 per square foot.

Comparison from prior month is below.

2 active listings compared to 3 active in February 2013
0 back up listing compared to 1 back up in February 2013
3 pending listings compared to 3 pending in February 2013
1 sold listings compared to 4 sold in February 2013

Market absorption rate is declining with the decrease in inventory. Absorption is favoring a seller’s market.

Past month’s market reports:

March 2013
February 2013
January 2012

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ABOUT ME

Sharon Paxson is a full-time REALTORĀ® with EQTY | Forbes Global Properties and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyerā€™s, Sellerā€™s, Landlords, and Tenants with their real estate needs.

If you are thinking about buying, selling or renting your home, condo or other Real Estate in the following areas including Newport Beach, Newport Coast, Corona del Mar, Huntington Beach there are thousands of Realtors to choose from. However, it doesn't cost you any more to work with aĀ top Newport Beach CA Realtor. We welcome the opportunity to show you how we get outstanding real estate results with specific and targeted marketing. If you are looking for a top real estate agent who will make a difference you have come to the right place. Use this real estate website to learn about communities and homes for sale.

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DISCLAIMER: All information, photographs & content contained on this site is the property of Sharon Paxson. You must obtain written permission from Sharon Paxson if you would like to use any of this content contained herein. Opinions expressed are those of Sharon Paxson and may not necessarily be opinions of past and present brokers. Articles may be time and date sensitive. All statistical information utilized to create market reports has been obtained from the CRMLS. Information Deemed Reliable but not Guaranteed.

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