The median list price in Newport Coast this week is $3,746,500.
Inventory has been lightening lately and the market action index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. Since this is a buyer’s market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the seller’s zone, and we are likely to see upward pressure on pricing.
Price
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the market action index before we see prices deviate from these levels.
