Newport Beach CA is an amazing and beautiful city – cherished by residents, tourists, travelers, and business people.
Its homeowners have also enjoyed solid property property increases during the past 13 years.
234 Newport Beach homes have sold during the second quarter this year from July 1 to September 30,2013 – with average sold price of $1,646,747 – and average interior size of 2,325 SF.
296 Newport Beach homes sold during that same time 13 years ago – from July 1 to September 30, 2000 – with average sold price of $705,712 – and average interior size of 1,939 SF.
So Newport Beach average home selling prices have gone up $941,035 during that time – which is a price increase of 133 percent over the 13 years – or an average annual selling price increase of 10.2 percent during that time.
Newport Beach had fewer distressed properties and foreclosures than other areas of Orange County during the housing slump from 2007 to 2011 – and real estate values remain stable at Newport Beach and less volatile than other areas.
Newport Beach has been good for home buyers and owners who expect to protect and grow their property values.
Source of some information is CRMLS and is for homes listed and sold by all brokers and agents.
By Harrison K. Long – Professional real estate representative and Realtor, Coldwell Banker Previews, Newport Beach and Orange County, CA – CA BRE 01410855