These days you will see price reductions in Newport beach like never before! Do you know that in Newport Beach today more than 30% of the homes for sale have had a price reduction?
The good news is that a year ago it was over 40%. Price per square foot has continuously been dropping, Today the average square foot of listed homes is $652.00 a foot. Days on market are rising and so is the inventory. These are signs of a weakening market.
Lucky for me I have realistic sellers and they listen when I advice on price. Presently I have an incredible listing in Dover Shores, a very desirable community in Newport Beach. This home has so many amenities it's hard to list. Some of my favorite are the u shape floor plan that surrounds the tropical backyard, all the windows through out that make the house light and bright , and access to 3 private beaches.
We recently had a price reduction to $2,599,000! This is a must see home. Open Sunday from 1-4pm! Don't miss it!