This weeks market update for Newport Beach property in the 92661 zip code which includes the Balboa Peninsula real estate market. This week the single family home price for Newport Beach this week is $2,869,500. There are currently 422 homes that have been on the market in the Balboa real estate market and have been on the market for an average of 164 days with half of those listings have come newly on the market in the last 133 days or so. The inventory for this area is on the upswing but the amount of days on market trneding down. We see the prices for the Balboa Peninsula real estate trending downward right now and market conditions remain weak.
Invertory For Newport Beach Homes For Sale
The inventory for Newport Beach Homes has been falling in recent weeks and seems to indicate a stronger sellers market. Newport Beach Home sales have been exceeding new inventory for a number of weeks.
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