Newport Shores Market Update – December, 2011

Newport Shores in Newport Beach is a great beach community of approximately 440 homes located on the west side of Newport Beach.  In Newport Shores, there are both single family homes and there are condos, and duplexes as well.

Newport Shores in Newport Beach sunset

The community of Newport Shores has a community pool, clubhouse, tennis court, sand volleyball court and basketball court for the residents of Newport Shores in Newport Beach.

Currently, there are 5 active listings in Newport Shores in Newport Beach, and there is one other active listing which is not in the MLS at 233 Canal Street being offered at $1,400,000. In December 2011, there were no sales and only one back up the property. All of the active properties are standard or equity sales and the backup property is also a standard sale.

Listings are the same since November
Sales are down from November -2

Market absorption is still considered a buyers market in Newport Shores in Newport Beach.

The following graph represents the number of units sold by the year since 2002 with the average median price by year. In 2011, in Newport Shores, a total of 14 homes were sold.  That is up from 2010 by four. Of the 14 homes sold in Newport Shores, six were distressed sales. That is up by two from 2010 where there were four distressed sales of a total of 10 sold.

However, in 2011, the median price increased as you can see in the graph below. The median price is very close to 2004 pricing.

Based upon market trends, and the fact that there is such limited inventory for sale in Newport Shores, I believe that the market will remain a seller’s market. And because there continue to be standard or equity sales which is currently the majority of listings.

Search the MLS for Newport Shores homes for sale, and Newport Beach Real Estate.

Price
Beds
Baths
For Sale / All Types
Advanced Search
$1,638,700
5
BED
3
TOTAL BATHS
2,424
SQFT
319 Walnut Street Newport Beach, CA 92663
Single Family Home For Sale
- Active

Welcome home to Newport Shores – a community of homes directly across PCH from some of Newport’s best surfing beaches and bound together by association amenities that add to the CA Coastal lifestyle. The “heavy lifting” has already been done here wit

New Listing - 4 weeks online
$2,099,000
4
BED
3
TOTAL BATHS
2,388
SQFT
343 62nd Street Newport Beach, CA 92663
Single Family Home For Sale
- Active

Just steps from the sand, this remodeled and expanded home offers luxury beach living with four bedrooms, three baths, a rooftop deck, an office and a bonus room. This sophisticated home features a gourmet kitchen with slab granite counters, top-of-t

New Listing - 3 weeks online
$2,499,000
4
BED
3
TOTAL BATHS
2,176
SQFT
346 62nd Street Newport Beach, CA 92663
Single Family Home For Sale
- Active Under Contract

This exceptional new construction four bedroom, three bath home is located on the highly sought after canal in Newport Shores. Featuring a stunning open floor plan complete with custom floor to ceiling Fleetwood retractable glass doors. Enjoy endless

New Listing - a week online
$1,200,000
3
BED
2
TOTAL BATHS
1,001
SQFT
258 Cedar Street Newport Beach, CA 92663
Single Family Home For Sale
- Active

Located just two blocks from one of Newport’s finest beaches, this three bedroom, two bathroom fixer is a great opportunity to own a home in Newport Shores. It includes an open floor plan, vaulted ceilings and a private patio. Enjoy beach living and

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ABOUT ME

Sharon Paxson is a full-time REALTOR® with Compass and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyer’s, Seller’s, Landlords and Tenants with their real estate needs.

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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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