The median list price in Newport Beach this week is $2,369,950.
Even though the days-on-market is trending higher, so is the market action index at these inventory levels, providing a neutral outlook for the market.
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
The market seems to have paused around this plateau. The market action index is a good leading indicator for the durability of this trend.
