;

Newport Beach REO Market Update | April, 2013

Newport Beach REO Market Update | April, 2013

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.

Bayshores in Newport Beach

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

Search the MLS for Newport Beach REO property and Newport Beach homes for sale.

 

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

ABOUT ME

Sharon Paxson is a full-time REALTORĀ® with Coldwell Banker and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyerā€™s, Sellerā€™s, Landlords, and Tenants with their real estate needs.

If you are thinking about buying, selling or renting your home, condo or other Real Estate in the following areas including Newport Beach, Newport Coast, Corona del Mar, Huntington Beach there are thousands of Realtors to choose from. However, it doesn't cost you any more to work with aĀ top Newport Beach CA Realtor. We welcome the opportunity to show you how we get outstanding real estate results with specific and targeted marketing. If you are looking for a top real estate agent who will make a difference you have come to the right place. Use this real estate website to learn about communities and homes for sale.

REAL ESTATE BROKERAGE SERVICES

  • Newport Beach Homes for Sale/Sharon PaxsonĀ®
  • Newport Beach area buyers, sellers, renters
  • 840 Newport Center Drive, Suite 100
    Newport Beach CA 92660
  • 949-280-0681 | DRE 01501912

DISCLAIMER

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.

Copyright Ā© 2024 Newport Beach Real Estate

Scroll to Top