The prices in real estate in Newport Beach, in the California region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Newport Beach has increased strongly during the last 6 months. In March, the average price per sq.feet was $905. In the following month the price per sq.feet decreased to $844. The price for the following two months in (May, June) had a considerable increment of 165 %. The price per sq.feet has increased 114 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $1,157.75 to $1,325.5 during July, and August.
Based upon to the price in Newport Beach (cities), this has gone up in the last 6 months. The average price for March is $2,533,790. During April the price had a considerable reduction till $2,037,921. During the following two months (May, June) the average price had a considerable increase of 125 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $2,898,502 they are 57 % more affordable than the average price for Newport Beach. The properties with the highest average price have 1 bedroom, Their price is 11 % more costly than the average. After that we have properties with 4 bedrooms priced at $2,383,075.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $563 / sq.feet, with an average $997 / sq.feet price in Newport Beach. The properties with the highest average prices have 1 bedroom. They are 2 % more expensive than the average followed by properties with 3 bedrooms with a price at $721 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $2,898,502 it is 32 % cheaper than the average price in Newport Beach. "Condo" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Duplex". At a price of $4,047,139 it is 51 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $918 / sq.feet followed by "House" priced at $979 / sq.feet. "Duplex" is the most costly type of property with a $1,552 / sq.feet cost followed by "Commercial" with an average price of $1,266 / sq.feet.