Lido Island Homes for Sale in Newport Beach | Market Report December 2011
Lido Island in Newport Beach is a beautiful community of homes in Newport Beach which is actually an island. There is a bridge going to Lido Island, or Lido Isle as it is also referred to as. Lido Island has bay front homes and many of these homes have slips available for their yachts.
Lido Island has community tennis courts for the exclusive use of the Lido Island residents, and also has the Lido Island Yacht Club, and there is sailing for the children during the summer months.
Currently, there are 21 active listings on Lido Island in Newport Beach, three in back up (one is a short sale), and there were two sales during the month of December. The only distressed property listed on Lido Island in Newport Beach is the short sale which is in back up status.
There were 29 sales during 2011 in Lido Island in Newport Beach. Of all the sales in 2011, only two were distressed sales, and one was a short sale and the other was an REO or bank owned property.
There is an approximate absorption rate of 7 months which indicates a stable market. The listings have declined in the past month which may be a result of the end of the holiday season also. In my opinion, the market will trend towards a sellers market with a declining inventory.
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