Newport Beach Home Prices Increase

By: Allan Heller ~ November 1, 2007

Here is an interesting excerpt from the otherwise depressing article issued October 24, 2007 by the California Association of Realtors.

  • Statewide, the 10 cities and communities with the highest median home prices in California during September 2007 were: Newport Beach, $1,435,000; Los Gatos, $1,228,000; Cupertino, $1,050,000; Danville, $1,004,000; Redondo Beach, $847,500; San Clemente, $830,000; Yorba Linda, $825,000; Arcadia, $805,000; San Rafael, $797,500; and Santa Monica, $796,500.
  • Statewide, the 10 cities and communities with the greatest median home price increases in September 2007 compared with the same period a year ago were: Tustin, 19.7 percent; Los Angeles, 18.2 percent; Arcadia, 14.2 percent; Carlsbad, 11.1 percent; Laguna Niguel, 10.1 percent; Diamond Bar, 8.7 percent; Cupertino, 8.4 percent; Redondo Beach, 8 percent; Reedley, 7.1 percent; and Newport Beach, 6.3 percent.

This is just another indication that prices of property located in desirable areas are holding steady or increasing even during the current real estate downturn.