Single family home sales rose 75% over the previous year (56 sales). Condo sales volume also increased, but home values remained about constant compared with last year. There was a significant drop off in the prices compared to October, September and August. This could indicate a slow down in the price appreciation although the volume of sales would indicate otherwise. Look for the average price to be up in December, even knowing that its a slow month for real estate.
Please contact us at 1-800-287-1808 if you?re in the market for real estate in Newport Beach California.
Source: http://capropertyfinder.com/newport-beach-real-estate-report-for-november-2012/
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