Slow month for Newport Beach compared to November 2012 with 51 single family home sales, down 9%, and 13 condo sales, down 24%. The average price of a single family home sold in Dec 2012 increased 33% from last year’s numbers from $1.46 mil to $1.95 mil. Single family homes and condos both had a 10% increase in average sale price compared to last month. So long as inventory levels remain low, expect prices to continue upward.
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