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Thursday, 17 January 2019 22:32

Newport Coast Mansion

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The Newport Crest appraisal was very complex as the comparable homes were in excess of 10,000 square feet and of the highest quality. Appraisal was completed Jan. 2019. The general market conditions was as follows: Living areas for sales over the past 2 years range from apx. 3,346 to 17,000 SF, average was apx. 4,838 SF. Lot areas were from 7800 to 543,193 SF, average was apx. 13,135 SF. Days on the market was from 0 to 758 and the average was 84 days.  Sale/List price ratio was 93.04%. Of the 8 comps included in my report, the lowest sales price was: $10,286,000 | highest: $24,100,000 | mean: $16,354,500 and the median was: $16,250,000. After adjusting all 8 comps, the mean became: $17,471,875 | median became $17,400,060. I have been appraising Orange County Real Estate for over 30 years.

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