The median price in Newport Beach is $2,295,000.
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 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 this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
