The market just keeps bubbling

Like the Energizer bunny of old, the Newport-Mesa real estate

market just keeps going, and going and going.

As of last week, for instance, house hunters had 15 choices if

they wanted to move to Balboa Island (and who doesn’t?). Average

price: a cool $2.5 million.

Across Newport Beach, fortunately enough for those without

millions to spend, the median home price is a far more reasonable

$900,000. In Costa Mesa, prices are climbing almost as steadily,

reaching a median of nearly $420,000.

It’s good news for people selling homes, and it’s doubtless a

reason why the economy here on Orange County’s gold (maybe at this

point it should be platinum) coast is weathering the slowdown storm.

There are worriers out there, of course, who see the real estate

bubble bursting. But there are no danger signs yet.

Just “For Sale” ones.