The median list price in Newport Coast this week is $4,695,000
The Market Action Index has been trending down lately, indicating demand falling along with supply. Conditions point to mildly negative trends for the market.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Price
While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high water mark. Watch for a persistent shift in the Market Action Index into the buyer’s zone as an indicator of subsiding price strength.
