Here’s a snapshot of the trends and changes we’re seeing:
Newport Beach
- Homes Sold: 65
- Change: Up 6% year-over-year (YoY)
- Median Home Price: $3,195,000
- Change: Down 3% YoY
In Newport Beach, we’ve seen a notable increase in the number of homes sold compared to last year, reflecting a resilient demand in this sought-after area. However, the median home price has seen a slight decline, suggesting a potential shift in the pricing dynamics or changes in the types of properties sold.
Costa Mesa
- Homes Sold:47
- Change: Down 9% YoY
- Median Home Price: $1,350,000
- Change: Up 8% YoY
Costa Mesa experienced a drop in the number of homes sold this August, indicating a slower pace in the market. Despite this, home prices have risen by 8%, signaling strong demand for properties and potentially tighter inventory.
Corona Del Mar
- Homes Sold: 15
- Change: Down 28% YoY
- Median Home Price: $4,495,000
- Change: Up 22% YoY
Corona Del Mar saw a significant decrease in the number of homes sold, a trend attributed to high prices or limited inventory. Despite the drop in transactions, the median home price has surged by 22%, highlighting the area’s high demand and premium market status.
