According to an article on Orange County Register reviewing DataQuick’s findings concerning the first quarter of this year, home prices and sales are rising. 73% of the Orange County market has had increased pricing. Both Corona del Mar and most of Newport Beach have had significant price increases on properties that have sold this year.
Corona del Mar has a 3.3% increase, bumping the average price up to $1,446,500. Three out of the four zip codes in Newport Beach have also experienced higher home prices; zip code 92660 had an increase of 24.1%, with the average selling price being $1,055,000. 92661 zip’s average home price was $2,000,000 after a 60% increase. In zip code 92664, prices moved up 54.2% into the $975,000 range. Newport Coast has risen 15.6% to $1,676,500.
All zip codes within Newport Beach (including Corona del Mar) have had a significant increase in home sales as well.
Please go to the Orange County Register for more information on not only the Orange County market, but also our local area of Newport Beach.