The median price in Newport Beach is $2,380,000. The Market Action Index has been climbing lately while days-on- market are trending down, these point to a positive near-term outlook for the market.
Supply and Demand
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
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.
