Take a look at the chart below. You will see I have circled the active inventory numbers from April 2013 and 2009. Our current inventory is only 32% of what it was back in 2009. We have seen the majority of the standing inventory in our market (Newport Beach, Eastside Costa Mesa, Newport Coast and Corona del Mar) clear out in the past year. This lack of inventory has created the first positive market for sellers we have seen in a while. Also, take note of the current properties in escrow. While this number has stayed fairly steady over the last 4 years, only 14% are REO or short sale listings.
Contact AJ Olson Whitfield for your home’s market evaluation today (949) 433-8989
Homes for Sale in Newport Beach
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