
What's happening down at the beach? Historically, properties in this market sell at a 33.2% premium. Today's premium is 26.2%. This market is 7.0% undervalued. Median home price is $1,668,500, and resale $/SF is $790/SF. Prices rose 4.0% year-over-year. Monthly cost of ownership is $7,660, and rents average $6,245, making owning $1,402 per month more costly than renting. Rents rose 6.0% year-over-year. The current capitalization rate (rent/price) is 3.6%. Market rating = 9 [gview file="http://ochousingnews.com/wp-content/uploads/2017/03/2017-04-Newport-Beach.pdf" height="840px" width="640px" save="1"][READ MORE]