This Week
The median list price in Newport Coast this week is $4,648,800
Inventory has been lightening lately and the Market Action Index falling. Days-on-market is climbing, relatively negative indications for the market.
Supply and Demand
Market conditions have been consistently cool- ing in the past several weeks; more supply is coming on the market relative to sales demand. However, in recent weeks prices have been moving higher. Sine it is technically a buyer’s market, this price trend may be a result of improved quality (newer, larger homes) of those being listed.
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 subsid- ing price strength.
