The median list price in Newport Coast this week is $4,195,000. Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
Supply and Demand
Home sales have begun exceeding inventory. This is a buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the seller’s zone, we may 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 downshift in the Market Action Index before we see prices deviate from these levels.
