Newport Beach Housing Market Update - January 2015

Posted by Kristin Barry on Thursday, January 22nd, 2015 at 3:56pm

Remember that Newport Beach housing inventory that hit the market in the first week of January 2015?

Well, a lot of it is already gone. At least, the good ones!

Much of that can be credited to sellers pricing their homes accordingly but let’s not forget that this is a buyer’s market. Buying smart with an educated local professional plays a huge part too!

So far this year, we have seen homes in Newport Shores, West Newport, Corona Del Mar, Peninsula Point and Lido Island go on the market and into escrow within a week of listing. Everything from new construction to remodels to development opportunities have come and gone.

Combine that knowledge with the banks loosening their lending standards (and rates remaining consistently low), this trend should continue for the rest of 2015 with home sales expected to grow 3% in Newport Beach and countywide (Orange County).

So, what are you waiting for?

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