Newport Shores in Newport Beach | Homes for Sale in Newport Shores | Market Update | June, 2012
Newport Shores in Newport Beach is a beach community which is located in Newport Beach. There are approximately 440 homes located on the west side of Newport Beach. In Newport Shores, there are both single family homes, condos, and duplexes. Newport Shores is surrounded by a Canal and there are canal front homes in Newport Shores on Canal Street, Canal Circle and 62nd Street in Newport Beach.
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 4 active listings, 2 in back up, and there were 3 sales the month of June 2012.
Average price of homes sold in June, 2012 was $853,666 and an average price per square foot of $628.23. This was the first month since March, 2011 that a property located on the inside (not Canal front) sold for over $1,000.000.
Listings are down -1 since May, 2012
Back Up are the same since May, 2012
Pending Sales are down -2 since May, 2012
Solds are up +3 since May, 2012
Market absorption is still considered a seller’s market in Newport Shores in Newport Beach.
|Absorption Rate, June, 2012|
|Newport Shores Market Update|
Information Deemed Reliable but not Guaranteed
Courtesy of www.NewportBeachRealEstateCafe.com
Info is taken from CRMLS
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331 Walnut is located just moments from some of the best surfing, sunshine and sand in California. Featuring a gated front patio for extra privacy and built from the studs up in 2004, this five bedroom residence was refreshed again by the current own
Investment Highlights; ProForma CAP Rate of 5.65%. Current CAP Rate of 5.51% / 10-Year Corporate Backed Lease with (2) 5-Year Options to Extend / Recent Capital Improvements Exceeding $225,000+ / Master-leased boutique hotel located in Newport