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Newport Beach-Corona Del Mar Housing Market: Sale Prices By ZIP Code

Patch 1/21/2022 Local Data

NEWPORT BEACH-CORONA DEL MAR, CA — Home sales dropped nationally from November to December as listings became even more scarce. More homes are coming on the market in January, but competition among buyers will get even more fierce, according to real estate experts.

Home sales dipped by a seasonally adjusted 3.6 percent seasonally-adjusted from November to December, according to Redfin, a national real estate brokerage; it was the largest month-over-month sales decline since May 2020.

“Home sales are slumping, but not for lack of demand,” said Redfin Chief Economist Daryl Fairweather in a release. “There are plenty of homebuyers on the hunt, but there is just nothing for sale.”

More buyers and sellers are entering the market in January, but demand from buyers will outpace supply from sellers, Fairweather predicted.

The median sale price for residential properties nationally was $382,900 in December, which was 15.2 percent higher than December 2020, according to Redfin. Nearly 43 percent of homes sold above list price.

Newport Beach-Corona Del Mar Housing Market

The median sale price for a single-family home in the 92661 ZIP code was about $3.8 million from the beginning of October through the end of December, according to Redfin. That was 17 percent lower than the median price over the same period the previous year.

Redfin tracked 21 home sales during the same period, and 14 percent sold above list price. There were 16 new listings during this time, the firm said.

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ZIP code 92657

The median sale price for single-family homes in the 92657 ZIP code was $5,150,000 from October through December, according to Redfin. That was 2 percent higher than the median price over the same period the previous year.

Redfin tracked 47 home sales during the same period, and 34 percent sold for above list price. There were 42 new listings during this time, the firm said.

Zip code 92660

The median sale price for single family homes in the 92660 ZIP code was $2.7 million from October through December, according to Redfin. That was 13 percent higher than the median price over the same period last year.

There were 85 homes sold during the same period, and 35 percent sold for above list price. Comparatively, 54 homes were newly listed.

Additional single-family home information for Newport Beach-Corona Del Mar ZIP codes. Information is from October-December 2021.

ZIP code 92625

Median sales price: $4,477,500
Median sales price year-over-year change: 19 percent
Homes sold: 48
New listings: 47
Homes sold above list price: 23 percent

ZIP code 92663

Median sales price: $3,737,500
Median sales price year-over-year change: 32 percent
Homes sold: 42
New listings: 28
Homes sold above list price: 24 percent

Editor's note: This post was automatically generated using preliminary data from Redfin. Data is subject to revisions. Redfin is a Patch promotional partner. Please report any errors or other feedback to us.

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