The median price in Newport Beach is $2,387,500. Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
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 is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
