The median list price in Newport Coast this week is $4,395,000
Inventory is up and the Market Action Index is trending down recently. While days-on-market is trending lower, the overall conditions are weakening.
Supply and Demand
The market has been consistently cool for several weeks. Demand levels are low relative to inventory. It’s a buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise.
Price
While this week the median price in this zip code remained relatively flat. Price trends have us pulling back from the market’s high point. Keep an eye on in the Market Action Index for a leading indicator of the duration of the down trend.
