This has been an incredible January with home sales improving in the Newport Beach real estate market. Homes are definitely selling, and we are seeing multiple offers on homes. Buyers are showing confidence with this recent surge of activity. This is fantastic for our Newport Beach home sellers.
In January 2012, there were a total of 82 homes which went into back up status, 30 changed to pending, and there were 50 sales.
Of the Newport Beach homes referenced above, 39 were distressed (indicating either a short sale, foreclosure, or NOD), 18 were pending, and 15 closed escrow. With respect to the January 2012 sales in Newport Beach, 30% of the closed listings in Newport Beach were distressed sales.
If I can answer any questions about the market in Newport Beach, please contact me.
Search the MLS for Newport Beach homes for sale.