First Team Real Estate Announces Newport Beach Houses Selling over 10% Faster Than a Year Ago
Irvine, CA (PRWEB) July 11, 2013 -- Beach, sand, sun, and great homes are just four of the things that put Newport Beach on the list of many house hunters. Today on its market leading website, firstteam.com, California's largest independent real estate broker, First Team Real Estate released a market trends report that showed just how hot the market is for Newport Beach real estate.
Compared to this point last year, Newport Beach homes have become more expensive, sell quicker and there are a lot fewer available for sale. On average, Newport Beach homes sell roughly two weeks quicker, about twelve days or 10% faster, and for prices that are up 12% in just the last 90 days according to the Market Trends report.
And the best news for those thinking of listing their homes?
There are 30% fewer homes on the market in Newport Beach than a year ago, meaning a lot less competition.
"Prices are continuing to improve which of course attracts more home owners into selling," said Chris Pollinger, Senior Vice-President of First Team. "The really key statistic is that in a market where supply is up, the time on market is down by double digits, meaning that even with more houses out there, properties are moving even more quickly. The market for homes in Newport Beach has a lot of momentum."
Earlier this month, First Team Real Estate reported that it had claimed a market share for listings in Orange County of over 15%, outpacing the growth in the market area by double digits.
"Our market share has continued to improve because sellers and buyers see the tools our agents and brokerage have developed to gain them the best value and they trust us," continued Pollinger.
This report on Newport Beach real estate was generated using the Market Trends tools available on firstteam.com to the public in general for communities across California. Over the last year, thousands of home buyers and sellers have used the tools available on firstteam.com to identify key market aspects like neighborhood amenities, high quality schools, and real estate market trends in the area.
For more Market Trends on Newport Beach real estate, go to http://ow.ly/mu2E5.
ABOUT FIRST TEAM REAL ESTATE
Growing from a single office in Huntington Beach, CA in 1976, First Team Real Estate is now Orange County's largest and most trusted private real estate agency with offices across California. In 2011 and 2012, First Team was recognized as Best Real Estate Company by the annual Orange County Register survey of 100,000 Southern California households. We can be reached at (888) 236-1943.
ABOUT FIRSTTEAM.COM
Firstteam.com is the official website of First Team Real Estate, and is used daily by thousands of unique users who trust its property and market analysis data which is updated four times daily on average. According to independent rating organizations of Internet usage and reach, firstteam.com is the most used brokerage property web site serving Southern California. For more information, go to http://ow.ly/lZH0G.
JEFF GIBSON, First Team Real Estate, (949) 851-8511, [email protected]
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