Newport Heights Market Update January 2018
Newport Heights monthly sales activity for the month of January showed a significantly reduced number of listings, pending sales and closed sales for detached homes. The median sales price was significantly higher, but with just 1 closed sale in January 2018, the sample is much too small to compare. Inventory levels and average days on market are similar to January 2017 numbers.
Newport Heights attached home sales and new escrows are up, while new listings are down, causing a tight supply of attached homes, condos and townhouses in the neighborhood. The median sales price is up 20.7 percent from the same month in 2017, while inventory and months supply of inventory are low. This causes short-term upward pressure on valuation and would indicate a good time to list a property for sale.