Derry's Condo Headshot

Derry's Condo Headshot

Wednesday, September 21, 2016

Market Update for Newport Beach Residential Income

Actives
Volume: 24
Low: $1,495,000
High: $12,500,000
Average: $3,178,153.25
Median: $2,524,995.00

Under Contract
Volume: 2
Low: $1,699,000
High: $2,950,000
Average: $2,324,500.00
Median: $2,324,500.00

Pending
Volume: 1
Low: $2,175,000
High: $2,175,000
Average: $2,175,000
Median: $2,175,000

Sold (last 30 days)
Volume: 5
Low: $1,312,000
High: $4,700,000
Average: $2,268,900
Median: $1,640,000
Average % Difference between List Price and Purchase Price: -3.7%


I will say that it is interesting to note that the gap between List Price and Sold Price is the same for both condos/town homes as it is for residential income properties. I would not have expected that. It might be a happy accident. I'm sure time will tell.

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