Market Update for Newport Beach Condos and Townhouses

Active
Volume: 80 (+3.9%)
Low: $329,000 (-12%)
High: $4,390,000 (0)
Average: $1,465,035.64 (0)
Median: $1,199,950 (0)

Under Contract
Volume: 21 (0)
Low: $495,800 (+11%)
High: $2,599,000 (-19%)
Average: $1,082,339.86 (+5.9%)
Median: $965,000 (+22%)

Pending
Volume: 15 (+67%)
Low: $445,000 (-1%)
High: $1,999,000 (+14%)
Average: $1,009,816.67 (+12%)
Median: $789,800 (+1.9%)

Sold (last 30 days)
Volume: 19 (-14%)
Low: $300,000 (0)
High: $4,500,000 (0)
Average: $1,112,947.37 (+.8%)
Median: $799,000 (+6.2%)

Average % Difference between List Price and Purchase Price: -1.50%

That gap between list price and purchase price is LOW!!!! It's looking like both buyers and sellers are acting in a reasonable fashion including listing at appropriate numbers and purchasing at appropriate numbers as well. Just like single families, there appears to be a significant predictability in the market place. Great news for everyone!!