The median list price in Newport Beach this week is $2,395,000.
Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
Supply and Demand
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Price
Prices appear to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
