The median price in Newport Beach is $2,299,000.
The Market Action index has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market.
Supply and Demand
While prices have recently plateaued, this is a buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.
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.
