Newport Coast has sustained downward pressure on home sold prices, just like other areas of Orange County and Southern California. People who own expensive homes are not immune from economic pressures. On the other hand, most of the owners at Crystal Cove are people with significant income and wealth, and they are not forced to sell when markets slide. We don't expect much hysterical home selling to take place at Newport Coast.
I recall from some of your other questions that you are not a homebuyer or seller. However, if you are interested to be a homebuyer at Crystal Cove and Newport Coast, contact a qualified and experienced REALTOR to help you with that.
Harrison K. Long, Explore Group, Coldwell Banker Previews.
The early July interest rate spike, though apparently short lived, has had an impact mildly slowing some sales but by the third week in July activity is as brisk has been in recent months and probably will continue through the fall at least.
Please check back with me for future updates, thanks.
My recent blog post was about Corona del Mar real estate and home seller price nostalgia March 2011 @ http://livecoronadelmar.com/2011/03/07/corona-del-mar-real-e
Harrison K. Long, Realtor and broker associate, Coldwell Banker NRT, South Orange County, CA
A good website to check out is http://www.CrystalCove.com. They post the current inventory of homes for sale and for lease in Crystal Cove, and they also have 2010 sales data for closed transactions.