The median price in Newport Beach is $2,695,000. Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.
Supply and Demand
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Price
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.
