As we take a look at past sales and home prices for the Newport Beach area, we can see that the prices fall well above that of the national average. With a median home price of $1,850,000 in the 92662 part of Newport Beach, one would think that this exclusive section of the O.C. is not feeling the crunch of the real estate make. Well such is not that case, these prices are actually down 12.40% according to www.dqnews.com. Since January of 2007, 14 homes… yes that is 14 my friends, have sold in this area code, a significant drop of 51.70% from this same time last year. These staggering numbers certainly let you know that Newport Beach is not immune to what the rest of the country is going through. These past sales and what they sold for also provide an accurate barometer for the Newport Beach Market.
505 Avenida Campana: Sold for $814,500, 3 Beds, 2.5 Baths, 1,122 SQ. FT. This residential style home was built in 1964 and was previously sold in 2002 for $632,500.
2004 Barranca: Sold for 585,000, 2 Beds, 2 Baths, 1,342 SQ. FT. Built in 1966, this house had a 2007 property tax of $861.
37 Sea Island Dr. #37: Sold for 595,000, 2 Beds, 2 Baths, 1,197 SQ. FT. This condo style home was built in 1977 and was previously sold in 2007 for $626,000.
1949 Vista Caudal: $920,000, 3 Beds, 2.5 Baths, 1,701 SQ. FT. Built in 1964, this house was last sold for $925,000 and had 2007 property tax of $9,278.
444 E. 16th St: Sold for $710,000, 4 Beds, 2 Baths, 1,903 SQ. FT. This residential style home was built in 1968 and had a 2007 property tax of $1,287.
270 Cagney Ln #302: Sold for $573,000, 2 Beds, 2 Baths, 1,201 SQ. FT. This condo style home was built in 1985, it was previously sold in 2003 for $425,000.