Current prices for Newport Beach homes for sale on the market
Trends in pricing
Current levels of supply and demand
market update
NEWPORT BEACH Real Estate
92660
2008-09-26
Report for the week2mediainfo.com
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The median single family home price in NEWPORT BEACH this week is $1,998,000. The 409 homes have been on the market for an average of 167 days.
One of the highlite areas of the 92660 zip code is the Balboa Penninsula
THIS WEEK
Average Days on Market 167
Asking Price per Square Foot $ 750
Absorbed This Week* 41
Percent of Properties with Price Decrease 41 %
Percent Relisted (reset DOM) 13 %
Percent Flip (price increased) 2 %
City Overview NEWPORT BEACH
Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market. To get a tightly targeted understanding of homes in the market, we break each locale into quartiles. Each quartile is 25% of the homes listed.
QUARTILES
Characteristics per Quartile
4,026 5.0 5.0 28 102 9 9 Most expensive 25% of homes
4,501 - 6500
1 $ 4,770,000 sq ft 157
3,107 4.0 4.0 36 102 20 15 Upper-middle 25% of homes
4,501 - 6500
2 $ 2,495,000 sq ft 178
2,460 4.0 3.0 44 102 13 13 Lower-middle 25% of homes
4,501 - 6500
3 $ 1,750,000 sq ft 178
1,785 3.0 2.0 46 103 8 4 Least expensive 25% of homes
Less than
4 $ 1,099,000 4,500 sq ft 158
PRICE
The market seems to have paused around this plateau. The Market Action Index for Newport Beach realty is a good leading indicator for the durability of this trend.
QUARTILE PRICES
Price weakness is evident almost across the board. Quartiles 2, 3, and 4 have been in price decline in recent weeks, with Quartile 1 remaining basically flat. Look to the
Market Action Index as a leading indicator of the bottom of the market. Often, we find insights by watching pricing trends within the quartile segments.
2media Info Market Update for NEWPORT BEACH Homes for sale 2Media Info | http://www.2mediainfo.com
We’re seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.
PRICE AND VALUE
INVENTORY
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a
strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
2media Info Market Update for NEWPORT BEACH 42Media Info | http://www.2mediainfo.com
The NEWPORT BEACH market is currently quite strongly in the Buyer’s Market zone (below 30). The 90-day Market Action Index stands at 15. With several months of inventory available at the current sales rate, buyers should find ample choice. Home sales have been exceeding
new inventory for several weeks. However because of excess inventory, prices have not yet
stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market
to a Seller’s market.
The Market Action Index (MAI) illustrates the balance between supply and demand
using a statistical function of the current rate of sale versus current inventory.
An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot
Market”) because demand is high enough to quickly gobble up available supply. A
hot market will typically cause prices to rise. MAI values below 30 indicate a
“Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes
is sufficient to last several months at the current rate of sales. A cold market will
typically cause prices to fall.
Residential house prices are a function of supply and demand, and market MARKET ACTION INDEX
conditions can be characterized by analyzing those factors. Watch this index for
sustained changes: if the index falls into the Buyer’s Market zone for a long period,
prices are likely in for a downward correction.
Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer’s Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group
changes.
The quartiles can help you answer the question, “How hot is the market for homes
in my price range?”
Neighborhood Detail 92660
NEWPORT BEACH Homes For Sale
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 1,825,000
$ 2,784,314
$ 38,500,000
$ 554,837
187
Average Days on Market 167
Asking Price per Square Foot $ 647
Absorbed This Week 2
The median single family home
price in NEWPORT BEACH 92660
this week is $1,825,000.
THIS WEEK
Shop all homes for sale in Newport Beach
Median Number of Bedrooms
Median Number of Bathrooms
Median House Size (sq ft)
Median Lot Size
Median Age
3,068
4.0
3.8
36
Altos Research Value Statistics
8,001 - 10,000 sq ft
Market Action Index Cold! Buyer’s 12
Inventory has been tightening and days-on-market increasing recently. The Market Action Index
has been basically flat, not providing strong indication for market conditions.
PRICE
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
2media Info Market Update for NEWPORT BEACH 72Media Info | http://www.2mediainfo.com
PRICE PER QUARTILE
In the quartile market segments, we see the market’s price weakness almost across the board. Prices in Quartile 4 have been mixed recently, while the rest of the market is trending downward. Look for a strong, persistent up shift in the Market Action Index as a leading indicator of the trough in the market. Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there’s a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
PRICE AND VALUE
2media Info Market Update for NEWPORT BEACH Ca. Real Estate 2Media Info | http://www.2mediainfo.com
INVENTORY
Inventory has been climbing lately with 187 properties available this week. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index to gauge whether buyer interest is keeping up with available supply. The NEWPORT BEACH 92660 is
quite strongly in the Buyer’s Market zone. The 90-day Market Action Index stands at 12. With
several months of inventory available at the current sales rate, buyers should find ample choice.
MARKET ACTION INDEX
MARKET ACTION
Not surprisingly, all quartiles are in the Buyer’s Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
2media Info Market Update for NEWPORT BEACH
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Current prices for homes on the market
Trends in pricing
Current levels of supply and demand
market update
CORONA DEL MAR
92625
2008-09-19
Report for the week of
2mediainfo.com
www.2mediainfo.com/info@2mediainfo.com
Presented by 2media Info
949-723-3160
To see everything available in the Corona del Real Estate Market click below
http://www.2newportbeach.com/content/corona-del-mar-mls.php
The median single family home price in CORONA DEL MAR this week is $2,599,999. The 103 homes have been on the market for an average of 156 days.
THIS WEEK
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 2,599,999
$ 3,750,746
$ 75,000,000
$ 1,079,500
103
Average Days on Market 156
Asking Price per Square Foot $ 1,010
Absorbed This Week* 6
Percent of Properties with Price Decrease 44 %
Percent Relisted (reset DOM) 15 %
Percent Flip (price increased) 6 %
City Overview CORONA DEL MAR
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market. To get a tightly targeted
understanding of homes in the market, we break each locale into quartiles. Each quartile is 25% of the homes listed.
QUARTILES
Characteristics per Quartile
*Metric “Absorbed this Week” covers properties sold and those taken off the market for other reasons.
Since sales sometimes take months to close, it is impossible to discern in real-time exactly which properties
sold.
3,185 4.0 4.0 46 25 2 2 Most expensive 25% of homes
6,501 - 8,000
1 $ 4,595,000 sq ft 146
2,800 4.0 4.0 40 26 1 1 Upper-middle 25% of homes
4,501 - 6500
2 $ 3,249,500 sq ft 196
2,525 4.0 3.0 41 26 1 1 Lower-middle 25% of homes
8,001 - 10,000
3 $ 2,325,000 sq ft 155
1,930 3.0 3.0 41 26 3 2 Least expensive 25% of homes
6,501 - 8,000
4 $ 1,579,250 sq ft 128
2media Info Market Update for CORONA DEL MAR 22Media Info | http://www.2mediainfo.com
PRICE
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
QUARTILE PRICES
Pricing trends have been lacking strong directional indication lately. Prices in Quartiles 3 and 4 have been mixed in recent weeks, while Quartile 2 is up and Quartile 1 is down. Look to the Market Action Index to determine when we may see a shift in prices from these
current levels. Often, we find insights by watching pricing trends within the quartile segments.
2media Info Market Update for CORONA DEL MAR 32Media Info | http://www.2mediainfo.com
Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there’s a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
PRICE AND VALUE
INVENTORY
Inventory has been relatively steady around these levels in recent weeks.
2media Info Market Update for CORONA DEL MAR 42Media Info | http://www.2mediainfo.com
The CORONA DEL MAR market is currently quite strongly in the Buyer’s Market zone (below 30). The 90-day Market Action Index stands at 13. With several months
of inventory available at the current sales rate, buyers should find ample choice.
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s market.
The Market Action Index (MAI) illustrates the balance between supply and demand
using a statistical function of the current rate of sale versus current inventory.
An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot
Market”) because demand is high enough to quickly gobble up available supply. A
hot market will typically cause prices to rise. MAI values below 30 indicate a
“Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes
is sufficient to last several months at the current rate of sales. A cold market will
typically cause prices to fall.
Residential house prices are a function of supply and demand, and market MARKET ACTION INDEX
conditions can be characterized by analyzing those factors. Watch this index for
sustained changes: if the index falls into the Buyer’s Market zone for a long period,
prices are likely in for a downward correction.
Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer’s Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end
of the market (e.g. the low end) will improve and signal a strengthening market before the whole group changes.
The quartiles can help you answer the question, “How hot is the market for homes
in my price range?”
MARKET ACTION
2media Info Market Update for CORONA DEL MAR 52Media Info | http://www.2mediainfo.com
DAYS ON MARKET (DOM)
The properties have been on the market for an average of 156 days. Half of the listings have come newly on the market in the past 126 or so days.
DOM PER QUARTILE
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the
lower quartiles.
2media Info Market Update for CORONA DEL MAR 62Media Info | http://www.2mediainfo.com
Neighborhood Detail 92625
CORONA DEL MAR
http://www.2newportbeach.com/content/corona-del-mar-properties.php
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 2,599,999
$ 3,750,746
$ 75,000,000
$ 1,079,500
103
Average Days on Market 156
Asking Price per Square Foot $ 1,010
Absorbed This Week 6
The median single family home price in CORONA DEL MAR Realty 92625 this week is $2,599,999.
THIS WEEK
Median Number of Bedrooms
Median Number of Bathrooms
Median House Size (sq ft)
Median Lot Size
Median Age
2,797
3.8
3.0
40
Altos Research Value Statistics
6,501 - 8,000 sq ft
Market Action Index Cold! Buyer’s 13
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.
PRICE
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent upshift in the Market Action Index before we see prices move from these levels.
2media Info Market Update for CORONA DEL MAR Homes for Sale 2Media Info | http://www.2mediainfo.com
PRICE PER QUARTILE
In the quartile market segments, we see the market without strong directional trend lately. Prices in Quartiles 3 and 4 have been mixed in recent weeks, while Quartile 2 is
up and Quartile 1 is down. Look to the Market Action Index to determine when we may see a shift in prices from these current levels.
Characteristics per Quartile QUARTILES
Bed Bath
Med. Sqft Med.
Age Inven. New
AbQuart
Median Price Med. Lot Size sorbed
Avg.
DoM
3,185 4.0 4.0 46 25 2 2 Most expensive 25% of homes
6,501 - 8,000
1 $ 4,595,000 sq ft 146
2,800 4.0 4.0 40 26 1 1 Upper-middle 25% of homes
4,501 - 6500
2 $ 3,249,500 sq ft 196
2,525 4.0 3.0 41 26 1 1 Lower-middle 25% of homes
8,001 - 10,000
3 $ 2,325,000 sq ft 155
1,930 3.0 3.0 41 26 3 2 Least expensive 25% of homes
6,501 - 8,000
4 $ 1,579,250 sq ft 128
The value placed on homes continues to increase, despite the fact that prices in general have
been basically flat recently. These conditions can arise when inventory is light and more,
smaller homes have more influence on overall prices.
PRICE AND VALUE
2media Info Market Update for CORONA DEL MAR Real Estate homes for sale 2Media Info | http://www.2mediainfo.com
INVENTORY
Inventory has been climbing lately with 103 properties available this week. Note that rising inventory alone does not signal a weakening market. Look to the Market Action
Index to gauge whether buyer interest is keeping up with available supply. The CORONA DEL MAR 92625 is quite strongly in the Buyer’s Market zone. The 90-day Market Action Index stands at 13. With several months of inventory available at the current sales rate, buyers should find ample choice.
MARKET ACTION INDEX
MARKET ACTION
Not surprisingly, all quartiles are in the Buyer’s Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
2media Info Market Update for CORONA DEL MAR 9
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corona del mar market update,
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Current prices for homes on the market
Trends in pricing
Current levels of supply and demand
Value metrics
market update2media Info
NEWPORT COAST
92657
2008-09-19
Report for the week
The median single family home price in NEWPORT COAST this week is $3,695,000. The 172 homes have been on the market for an average of 147 days.
If you are looking for a Newport house than click here for the most exclusive search for Newport Beach real estate on the internet.
http://www.2newportbeach.com/content/newport-coast-real-estate
Some other areas of interest in the Newport beach area include Corona del Mar, Pelican Hill, Big Canyon, One Ford Road, Balboa Island, and Spyglass.
THIS WEEK
Average Days on Market 147
Asking Price per Square Foot $ 840
Absorbed This Week* 14
Percent of Properties with Price Decrease 40 %
Percent Relisted (reset DOM) 9 %
Percent Flip (price increased) 5 %
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market. To get a tightly targeted
understanding of homes in the market, we break each locale into quartiles. Each quartile is 25% of the homes listed.
2newportbeach.com not only indexes the most luxurious homes for sale in Newport Beach, we also supple the Newport rentals for the more affluent at
http://www.2newportbeach.com/content/newport-coast-rentals.php
QUARTILES