Lido Island in Newport Beach | Market Update | October, 2012

Lido Island in Newport Beach is a highly sought after community of homes in Newport Beach which is actually an island. Access to Lido Island is via a bridge going to Lido Island. Lido Island has bay front homes and many of these homes have slips available for their yachts.

The bayfront homes located on Lido Isle in Newport Beach have incredible views of Newport Harbor. Many of these homes do have slips, however there are some that do not.

Currently, there are  17 active listings on Lido Island in Newport Beach, 6 in back up status, and 1 pending sales, and 7 sales for the month of September, 2012. 

The average sales price for the past one year is $2,438,932 with a price per square foot of $819.39.

14 Listings compared to 17 listings in September, 2012  - down -3
5 Back Up compared to 6 listings in September, 2012 - down -1
1 Pending compared to 1 in September, 2012 - the same
4 Sold compared to 7 in September, 2012 - down -3

Inventory has remained consistent from the prior month, and the trend on Lido Island in Newport Beach. View the absorption rate on Lido Island below.

View prior month's market reports on Lido Island in Newport Beach. 

September, 2012
August, 2012
July, 2012
June, 2012
May, 2012
April, 2012
March, 2012
February, 2012
January, 2012
December, 2011
November, 2011
October, 2011

Search the MLS for Lido Island homes for sale, and real estate for sale on Lido Island in Newport Beach.

Lido Island Homes for Sale in Newport Beach | Market Report August, 2012

Lido Island in Newport Beach is a highly sought after community of homes in Newport Beach which is actually an island. Access to Lido Island is via a bridge going to Lido Island. Lido Island has bay front homes and many of these homes have slips available for their yachts.

The bayfront homes located on Lido Isle in Newport Beach have incredible views of Newport Harbor. Many of these homes do have slips, however there are some that do not.

Currently, there are  18 active listings on Lido Island in Newport Beach, 7 in back up status, and 1 pending sales, and 4 sales for the month of July, 2012. 

The average sales price for the past one year is $2,295,483 with a price per square foot of $750.73.

18 Listings compared to 22 listings in July, 2012 - down -4
7 Back Up compared to 7 listings in July, 2012 - the same
1 Pending compared to 2 in July, 2012 - down -1
4 Sold compared to 2 in July, 2012 - up+2

Inventory has remained consistent from the prior month, and the trend on Lido Island in Newport Beach. View the absorption rate on Lido Island.

View prior month's market reports on Lido Island in Newport Beach. 

August, 2012
July, 2012
June, 2012
May, 2012
April, 2012
March, 2012
February, 2012
January, 2012
December, 2011
November, 2011
October, 2011

Search the MLS for Lido Island homes for sale, and real estate for sale on Lido Island in Newport Beach.

Originally posted at NewportBeachRealEstateCafe.com

Are you looking for a quality new home in one of Newport Beach's water front communities? Lido Isle was developed starting in 1928 so new homes are rare but the Isle has such lasting value as a water front neighborhood that builders continue to invest in buildiing new homes. Recently one of Southern California's finest custom builders, Rutter Development, built a new home here on Lido Isle. 

Rutter has a 75-year history in new home construction and in an effort to keep their excellent contractors employed have begun building a few custom homes when lots can be found. They have built this home in Lido and have others planned in Newport Heights. Why did they choose Lido Isle for one of their homes? Some of the management have a long history here but they found the "right" lot and it also made sound financial sense. 

Lido Isle's sales have cluster in the $1.0 million to $4.0 million price range. Home sales for homes on interior lots remain strong at price ranges betwen $3.0 and $4.0 million and average$1.9 million. The price range Rutter Development decided to target with this home falls into a price range with strong demand.

Out of 44 home sales I surveyed, water front homes comprised 23 percent of the total. Water front sales started at a low of $2.4 million averaged $5.5 million in sales price. Nice to be across the street from a $5.0 million home - something about prestige and value fall into place to pull up property values.

As of August 21, 2012 there were seven homes listed for sale ranging in price from $1.9 milion to $3.2 milion for listings on interior lots. The one water front home listed for sale was priced at $4.3 million (3,171 square feet). Rutter Development's new home, priced at $3.2 million is about $690,000 over homes of smaller size (2,400 square feet Vs. 3,171 square feet) that are four to eight years older. It is priced $1.2 million under the one water front listing. 

On a price per square foot basis, the Rutter home is listed at $996/square foot. Recent sales of homes built in the last five years range between $819 and $950 per square foot. But the Rutter home has additional premiums.

Yes, 600 Via Lido Soud by Ritter Development has some exceptional features that support the asking price. 

It is a  new home built by a quality builder you can trust. The architectural design is excelent, the floor plan flows, each window in each room is designed for privacy while capturing any potential views.

The finishing details are supurb and the ameinites what a descriminating buyer demands; including a walk-in wine cooler and a kitchen designed for the gourmet and a spacious master bedroom and bath. Since it is on a corner lot, the home has a wide front elevation to the street, creating the feel of a home of quality and substance. You see only a 26 foot front elevation on most interior homes, here you see the full 80 foot expanse. And the corner location gives you more open walls for privacy and view.

Perhaps more exciting is the fact this home has a water view from the living room and master bedroom. It is across the street from a pocket park that provides access to a small park, beach and the water front. It is a "REALORS" view but nice and fronting on Via Lido, a wide street in Lido, opens the distance between homes. 

Ask yourself, what portion of the $2.0 million water front premium that typifies Lido Isle is captured with this view and location? Clearly the view and location adds value to this quality new home.

It you are interested in 600 Via Soud, Lido Isle, please contact me - Robert Deane, Real Estate Broker, License #01881999 - mobile 949-607-8771. My full contact information is below and be sure to visit my websiteNewportBeachLifeRealEstateServices.com

This is a follow up to a recent post about Lido Isle in Newport Beach. I spoke about the water front homes and the challenges of selling homes on interior lots. We all know water front lots sell for a premium; but how large is it?

This is a brief case study of sales price trends between on water and interior homes. If you are a buyer, it will give you some perspective on the market, if you are a realtor, it may provide some assistance with pricing or working with apprasors.

I have used a scattergram to display the sales of water front and interior home sales made over the last 18-months. Each home sale is plotted based on the sales price and home size. A "market average" trend line was plotted to provide a measuring point between the two home types, interior lot and water front.

The analysis indicates that the average water front home of 3,125 square feet sold for approximately double the price of a home of similar size on an interior lot. That is a $2.3 million dollar or approximately a 100 percent premium for a water front home. 

Lido Isle's sales have cluster in the $1.0 million to $4.0 million price range. Out of 44 home sales I surveyed, water front homes comprised 23 percent of the total. Water front sales started at a low of $2.4 million averaged $5.5 million in sales price; interior lot sales prices $1.9 million. 

As of August 21, 2012 there were seven homes listed for sale ranging in price from $1.9 milion to $3.2 milion for listings on interior lots. The one water front home listed for sale was priced at $4.3 million (3.171 square feet). 

Of the choices you have currently there is  a home I highly recommend you see.

It is a  new home built by a quality builder. The architectural design is excelent, each window in each room is designed for privacy while capturing any potential views.

The finishing details are supurb and the ameinites what a descriminating buyer demands; including a walk-in wine cooler and a kitchen designed for the gourmet. Since it is on a corner lot, it has a wide front elevation to the street, creating the feel of a home of quality and substance.

Perhaps more exciting is the fact this home has a water view from the living room and master bedroom. It is across the street from a pocket park that provides access to a small park, beach and the water front. 

Ask yourself, what portion of the $2.0 million water front premium is captured with this view and location? Clearly the view and location adds value to this quality new home.

It you are interested in 600 Via Soud, Lido Isle, please contact me - Robert Deane, Real Estate Broker, License #01881999 - mobile 949-607-8771. My full contact information is below and be sure to visit my website NewportBeachLifeRealEstateServices.com

Lido Island Homes for Sale in Newport Beach | Market Report June, 2012

Lido Island in Newport Beach is a highly sought after community of homes in Newport Beach which is actually an island. Access to Lido Island is via a bridge going to Lido Island, or Lido Isle as it is also referred to as. Lido Island has bay front homes and many of these homes have slips available for their yachts.

The bayfront homes located on Lido Isle in Newport Beach have incredible views of Newport Harbor. Many of these homes do have slips, however there are some that do not.

Currently, there are  29 active listings on Lido Island in Newport Beach, 2 in back up status, and 1 pending sales, and 7 sales for the month of June, 2012. Of the sales in June, one was a short sale.

Average sales price for last month was $3,034,285 with an average price per square foot of $912.81. The average sales price for the past one year is $2,391,631 with a price per square foot of $812.65.  The trend for sales price is increasing.

Listings are the the same since May, 2012 
Back Up is up +1 since May, 2012
Pending property is the same since May, 2012
Sold property up +5 since May, 2012

Inventory has remained consistent from the prior month, and the trend on Lido Island in Newport Beach. Regarding the absorption rate on Lido Island, one month is generally not a trend and there were 7 sales in June, 2012, and now the three month trend is 7.3 months which is a stable market.

View prior month's market reports on Lido Island in Newport Beach. 

May, 2012
April, 2012
March, 2012
February, 2012
January, 2012
December, 2011
November, 2011
October, 2011

Search the MLS for Lido Island homes for sale, and real estate for sale on Lido Island in Newport Beach.

Originally posted at NewportBeachRealEstateCafe.com

Lido Isle

Lido Isle is often mistakenly referred to as Lido Island. This a lovely community, located in Newport Beach is a man-made island, with nearly 800 homes and almost 1800 residents. Lido is ocated in the middle of Newport Bay, and approximately 25% of Lido Isle's homes are located on the water. Thie island is accessed via a short bridge.

The residents of Lido Isle takes full advantage of its location on the Newport Bay, which is better known as Newport Harbor. Newport Harbor has one of largest and finest pleasure yachting harbors in the world.

The island residents are all members of the Lido Isle Community Association. The association offers a clubhouse with a private beach on the bay, tennis courts, boat dock, boat storage areas, playgrounds and a snack bar. The beach has a swim float which is a perfect distance for swimming to and then taking a break in the sun. The Lido Isle Yacht Club is the social center of the community and was incorporated in 1928.    

In addition to being a lovely place to live year round, Lido Isle also offers a perfect place from which to watch the annual Newport Beach Christmas Boat Parade.  

Lido Isle was one of the first master planned communities in California. W.K. Parkinson purchased a sandbar in 1923. It was called Huntington Island at that time, and he spent over $250,000 dredging the surrounding harbor and creating the island. After the dredging was completed, the island was renamed Lido Isle as a tribute to Lido di Venezia. The developers wanted to create a Mediterranean themed resort, most of the homes on the island today still reflects this with their style.

Development of the island was stymied by the Great Depression. By the end of World War II, only 50 homes and been built on the island. The post war boom was a boon which brought many new residents to the island who were happy to build their new homes on lots that averaged 3600 square feet.

Children who reside on Lido Isle generally attend schools in the Newport Mesa Unified School District - Newport Elementary, Horace Ensign Intermediate School, and Newport Harbor High School.

Shopping is available just over the bridge in Lido Village which features several restaurants, small shops, and a Starbucks.

Please see homes currently for sale on Lido Isle by clicking the map below.

Please call Christine Donovan at 714-319-9751 if you would like to sell or buy a home on Lido or have questions about Lido Isle.

Lido Island Homes for Sale in Newport Beach | Market Report April, 2012

Lido Island in Newport Beach is a beautiful community of homes in Newport Beach which is actually an island. There is a bridge going to Lido Island, or Lido Isle as it is also referred to as. Lido Island has bay front homes and many of these homes have slips available for their yachts.

The bayfront homes located on Lido Isle in Newport Beach have incredible views of Newport Harbor. Many of these homes do have slips, however there are some that do not.

Currently, there are  25 active listings on Lido Island in Newport Beach, 4 in back up status (two property in back up are short sales), and 3 pending sales, and 2 sales for the month of April 2012.

The average sales price for the past one year on Lido Island in Newport Beach is $2,316,277 with a price per square foot of $791.60 which is an increase in price per square foot from the prior month.

Listings are the same from March, 2012 
Back Up is down from March, 2012 -3
Pending properties are up from March, 2012 +2
Sold property is up March, 2012 +2

Inventory has remained consistent from the prior month, and the trend on Lido Island in Newport Beach. Regarding the absorption rate on Lido Island, one month is generally not a trend and there were two sales in April, 2012.

Past months market reports
March, 2012
February, 2012
January, 2012
December, 2011
November, 2011
October, 2011

Search the MLS for Lido Island homes for sale, and real estate for sale on Lido Island in Newport Beach.

Originally posted at NewportBeachRealEstateCafe.com