Newport Beach real estate – Home Sales and Lease Values update – February 2011
691 Newport Beach homes were sold during 2010.
- Average sold price was $1,417,530
- Average interior size was 2,232 SF
- Average time on market was 131 days
- 94 of those sold were short sales (13.6% of market)
- 61 of those sold homes were REO
604 Newport Beach homes were leased during 2010.
- Average leased price was $3,593 per month
- Average annual lease cost was $43,116
- Average cost of annual lease was 3% of average cost of sold Newport Beach home during 2010
- Average interior size was 1763 SF
- Average time on market of 51 days
At the end of the January, 2011 @ Newport Beach
- 139 Newport Beach homes were listed for lease
- Average list price was $5,421 per month
- So average annual lease list price was $65,052
- Newport Beach owners asking 50% more money at for lease listing than average completed lease price
- Average time on market of 114 days
This is for information only and data from Southern California Multiple Listing Service, which does not include FSBO, new homes sales by the builders, and homes sold at trustee auction sales at end of foreclosure.
If you are interested to sell, buy, or invest in homes and real estate at Newport Beach and Orange County, California, please contact me. Harrison K. Long – solutions for real estate and business – REALTOR® and broker associate, Coldwell Banker Residential Brokerage– 949-854-7747 (phone) – ExploreProperties@gmail.com (email) – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs®.