Median List Price
The median list price in NEWPORT BEACH this week is $1,799,000. Even though 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 have been exceeding new inventory for several weeks. While still a buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a seller’s market.
Price
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice upward trend in general over the past several weeks.
