Is Newport Beach, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Newport Beach has remained a Seller's Market.
Housing Prices in Newport Beach, CA
How much do homes in Newport Beach, CA cost?
Median Sold Price
$3,356,190
$1,364/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Newport Beach was $3,356,190 in April 2024, up 9.5% from last year, and the median price per square foot was $1,364.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $739K | $795K | +7.6% |
2 Bedrooms | $1.8M | $1.5M | -11.3% |
3 Bedrooms | $2.5M | $2.8M | +13.3% |
4 Bedrooms | $3.8M | $4.4M | +14.2% |
5+ Bedrooms | $5.1M | $5.3M | +5.4% |
Summary: Newport Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes decreased by 11.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
Central Coast | $1.6M | $1.8M | +15.3% |
Costa Mesa | $1.1M | $1.3M | +12.4% |
Irvine | $1.2M | $1.4M | +10.6% |
Newport Beach | $3.0M | $3.3M | +9.5% |
Corona Del Mar | $3.6M | $3.7M | +3.6% |
Housing Supply in Newport Beach, CA
How many homes are available in Newport Beach, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
419 | 466 | +11.2% |
Summary: The Newport Beach real estate market had 466 homes for sale in April 2024, a 11.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 7 | +16.7% |
2 Bedrooms | 66 | 71 | +7.6% |
3 Bedrooms | 111 | 127 | +14.4% |
4 Bedrooms | 118 | 126 | +6.8% |
5+ Bedrooms | 118 | 135 | +14.4% |
Summary: The Newport Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 14.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
85 | 88 | +3.5% |
Asking Price vs. Sold Price
57 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 88 homes were sold or pending in Newport Beach in April 2024, up by 3.5% month-over-month. Of the 88 sold homes, 65% were sold under asking, 19% were sold at asking, and 16% were sold over asking.
Days on Market for Newport Beach, CA
How long does it take to sell a home in Newport Beach, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
43 Days | 51 Days | +20.1% |
Summary: Homes in Newport Beach had an average of 51 days on market in Apr 2024, up by 20.1% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Summary: During April 2024, 88 homes were sold in Newport Beach; 52% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.