Well, it’s official. Our local Eastside Costa Mesa, Newport Beach, Newport Coast, and Corona del Mar real estate prices have recovered. Completely. Quickly. Even shockingly. If you look at our high point in 2007, you’ll see an average sales price of $2,287,871. As of the end of September 2014, our average sales price is now $2,287,418. I apologize for being $453 off.
Also of note is the recovery in sales volume from the lows of 2010 of 772 back up to 1,149. A little below the rush of 2012 and 2013, but never-the-less healthy numbers. With interest rates still low and our economy still growing, albeit slowly, I expect pricing to remain relatively flat to slightly increasing in the low single digit percentages.
Whether you are in a condo, a traditional single family neighborhood, or a luxury waterfront or view property, the likelihood is high that you could sell for a near record high price. If selling your home is at all a topic of conversation at the dinner table, these numbers bode well for you. Now is the time to discuss how Bixby Residential can help with your listing.
Call me directly for an update on your neighborhood: 949.677.0111.