Real Estate Trends for Newport Coast August 2013
The median sales price for homes in Newport Coast CA for Jun 13 to Aug 13 was $1,580,000. This represents a decline of 15.1%, or $280,000, compared to the prior quarter and a decrease of 2.8% compared to the prior year.
Sales prices have depreciated 8.3% over the last 5 years in Newport Coast. The average listing price for Newport Coast homes for sale was $6,094,141 for the week ending Sep 04, which represents an increase of $1,385, compared to the prior week and an increase of 5.8%, or $331,947, compared to the week ending Aug 14.
The month of August saw a decrease in homes sales due to the threat of increased interest rates and an increase in home prices over the previous months. As the inventory of homes increases we should see the market soften and move to more of a neutral or even a buyer's market.
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