Let's Ask Katie - June 2025

Let’s Ask Katie

Expert Advice for all your Real Estate questions from Katie Machoskie

Hello Katie,

Everytime we are out and run into a realtor, we ask, “How’s the market?” We thought it would be interesting to hear from you on this topic as well! So, how’s the market?

Monique and Dan, Corona del Mar

Hello Monique and Dan! 

The quick answer is usually, “depends on your perspective and your local market!  Are you buying, selling, or leasing as a tenant or landlord?  However, below are a few of the topics I find myself discussing most often with friends, neighbors and clients!

The median sale price for homes in Newport Beach has increased significantly, reaching approximately $3.9 million, marking a 29% rise compared to last year. The median price per square foot averages approximately $1,425. Homes are spending an average of 43 days on the market, down from 56 days in 2024, highlighting increased buyer interest and competition.

Homes along Newport Harbor, Balboa Peninsula, and Lido Isle are appreciating 8-12% year-over-year due to the beach lifestyle appeal of boating and ocean views. Limited supply in these areas further drives demand. One of my clients said to me years ago, “God’s not making more oceanfront, Katie!” Scarcity drives prices up.

The demand for properties accommodating multi-generational living has increased. Features like separate guest suites or dual-primary suite floorplans have become popular due to changing family dynamics and remote work trends.

Newport Beach's tourism boom is enhancing the market for short-term rentals, with properties near the harbor yielding 6-8% annual returns. However, recent regulations have capped the number of short-term rental permits.