Is Newport Beach, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Newport Beach was a Seller's Market.
Housing Prices in Newport Beach, CA
How much do homes in Newport Beach, CA cost?
Median Sold Price
$3,424,875
$1,381/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Newport Beach was $3,424,875 in June 2024, up 11.7% from last year, and the median price per square foot was $1,381.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $750K | $795K | +6.0% |
2 Bedrooms | $1.7M | $1.6M | -6.4% |
3 Bedrooms | $2.6M | $2.7M | +6.6% |
4 Bedrooms | $3.8M | $4.4M | +14.3% |
5+ Bedrooms | $5.1M | $5.9M | +14.6% |
Summary: Newport Beach housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 14.6%.
Median Sold Price Compared To Nearby Cities
Central Coast | $1.6M | $1.8M | +16.0% |
Irvine | $1.2M | $1.5M | +15.6% |
Costa Mesa | $1.1M | $1.3M | +13.2% |
Newport Beach | $3.0M | $3.4M | +11.7% |
Corona Del Mar | $3.5M | $3.8M | +7.0% |
Housing Supply in Newport Beach, CA
How many homes are available in Newport Beach, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
486 | 493 | +1.4% |
Summary: The Newport Beach real estate market had 493 homes for sale in June 2024, a 1.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 10 | +11.1% |
2 Bedrooms | 69 | 63 | -8.7% |
3 Bedrooms | 133 | 140 | +5.3% |
4 Bedrooms | 135 | 135 | 0.0% |
5+ Bedrooms | 140 | 145 | +3.6% |
Summary: The Newport Beach housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
99 | 64 | -35.4% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 64 homes were sold or pending in Newport Beach in June 2024, down by 35.4% month-over-month. Of the 64 sold homes, 69% were sold under asking, 9% were sold at asking, and 22% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
34 Days | 35 Days | +4.3% |
Summary: Homes in Newport Beach had an average of 35 days on market in Jun 2024, up by 4.3% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During June 2024, 64 homes were sold in Newport Beach; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.