Is Newport Beach, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newport Beach is a neutral's market

Buyer's
Market

Difference Since October 2021

At the same time last year, Newport Beach was a Seller's Market.

Key Takeaway

Newport Beach is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Newport Beach, CA cost?

Median Sold Price

$3,136,484

$1,229/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$560,318(+21.8%)

Key Takeaway

Homes in Newport Beach have sold for 21.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $630K$642.5K
+2.0%
2 $1.3M$1.7M
+28.3%
3 $2.1M$2.5M
+17.9%
4 $3.1M$3.8M
+23.2%
5+ $4.3M$4.9M
+16.2%

Median Sold Price Compared To Nearby Cities

Irvine
+29.5%
Costa Mesa
+25.1%
Corona Del Mar
+24.1%
Newport Beach
+21.8%
Central Coast
+16.9%

How many homes are available in Newport Beach, CA?

Number of Homes For Sale

Sep 2022Oct 2022%
384368-4.2%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 35
+66.7%
2 5351
-3.8%
3 121112
-7.4%
4 116109
-6.0%
5+ 9191
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
8160-25.9%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newport Beach, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
31 Days54 Days+71.7%

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

16 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Newport Beach are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Newport Beach, CA

There are 368 homes are for sale in Newport Beach, CA real estate market. The inventory of homes for sale in Newport Beach, CA between September 2022 and October 2022 decreased by 4.2%. While the average time on the market in October 2022 was 54 days, the median list price was $3,136,484. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 2% more expensive, 2 bedrooms properties became 28.3% more expensive, 3 bedrooms properties became 17.9% more expensive, 4 bedrooms properties became 23.2% more expensive, prices of 5 bedrooms properties increased by 16.2%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory increased by 66.7%, volume of 2 bedrooms homes went down by 3.8%, number of 3 bedrooms homes decreased by 7.4%, 4 bedrooms homes inventory decreased by 6%, volume of 5 bedrooms homes stayed the same. Over 11 listings were sold over their listed price in October 2022 in Newport Beach, CA. In the same period over 42 listings were sold below the listed price and 7 listings were sold for the listed price.

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