The Newport Beach Real Estate Market Continues to Show Strength in Early 2025.

The Newport Beach real estate market continues to show strength in early 2025, with home prices trending upward. The median listing price now hovers around $5 million, an 8.6% increase from last year. While buyers still have room for negotiation, with homes selling slightly below asking price, demand remains steady, and properties are spending an average of 84 days on the market. With a balanced market dynamic, both buyers and sellers have opportunities to make strategic moves in this competitive coastal market.
 
As always, please reach out if you have any questions or comments regarding your local market.
 

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The app formerly known as Twitter, which owner Elon Musk wants to be an “everything app,” recently announced a deal with Visa as the first partner for its forthcoming digital wallet and payments service. Much like Venmo or Zelle, “X Money” will allow X users to connect their debit cards and bank accounts to send money to their friends and family. According to CNBC, the service is expected to launch in the first quarter and could have more financial partners. (Morning Brew)

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The world's wellness economy is worth $6.3 trillion and forecast to reach $9 trillion by 2028. About $2 trillion is spent in the US alone... (Global Wellness Institute)

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What are the cheapest sources of energy?  Industrial Gas turbines/combined turbines, solar power, wind power, diesel, battery. The most expensive are coal, fuel cells, nuclear (mostly due to high upfront costs and waste management), and biomass.

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New developments, including those who lost their homes in the recent LA fires, are focused on building safer, fire-resistant options.  At the forefront is NileBuilt...it's patented building system uses proprietary composite reinforcing and recycled content to lower the cement carbon footprint by 65%, resulting in a non-combustible and net-zero operating home. Sustainable building options will impact the insurance and finance sectors and provide affordable housing options.  NileBuilt hopes to transform the industry with its Non-Combustible, Net-Zero housing technology.

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In 1982 when Forbes started the FORBES 400 richest people, the entry level net worth was $75 million....today you need at least $3,2 billion! That equates to about 9.15% annual Forbes-400-flation? (FT)

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Will real estate values be impacted by climate-related out-migration? The great climate migration of the coming decades won’t be linear. Americans will likely continue to flock to many of the areas that face the most peril, as local amenities and favorable economic conditions outweigh the mounting costs of climate risk. Climate change will cause a $1.47 trillion decline in U.S. home values by 2055, according to a new study from climate research company First Street. But.... if home values double in the next 30 years—from an estimated $50 trillion today to $100 trillion in 2055—a $1.47 trillion decline would represent only about a 1.5% decrease. First Street’s study projects that average home insurance premiums will rise 29.4% in the next 30 years and that the number of Americans who will consider climate risks when moving will soar from 5.2 million in 2025 to 55 million in 2055. (WSJ)