REO Property for Sale in Newport Beach | Bank Owned Homes for Sale in Newport Beach
Market report for April 2013.
Newport Beach REO home buyersĀ often face the challenge of competing withĀ multiple offers on the properties. This is not only happening with REO property but with traditional sales as well. Ā Especially during this time because there is such limited inventory in general. Also, Newport Beach REO Ā or bank owned home buyers are competing withĀ cash buyersĀ when making an offer on the home.
Currently there are 2 active listings 1 back up 2 pending and there was 4 sale in April 2013.
The average sales price over the past one year is $845924 and a price per square foot of $419.92.
The median price for REO property in Newport Beach for the past one year is $650500 and $372.99 per square foot. Both the average and median sales price are up from last month.
Comparison from prior month is below.
2 active listingsĀ compared to 2 active in March 2013
1 back up listingĀ compared to 0 back up inĀ March 2013
2 pending listingsĀ compared to 4 pending inĀ March 2013
4 sold listingsĀ compared to 1 sold inĀ March 2013
Market absorption rateĀ 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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