This Week
The median list price in Newport Beach this week is $2,497,000.
Demand measured by the Market Action Index is increasing and days-on-market appears to be trending downward. Even as more properties come available, these are positive trends for the 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.
