The median list price in Newport Beach is $2,395,000.
The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Price
The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.
