Newport Coast: March 04, 2013

The median list price in Newport Coast this week is $4,000,000.

The Market Action Index has been climbing lately while days on market are trending down; these point to a positive near-term outlook for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. However, prices have not yet stopped falling. Since the market is already in the seller’s zone, expect prices to level off very soon. Should the sales trend continue, expect that prices could climb from there.

Price

This week, prices in Newport Coast remained relatively flat. However, the recent trends have us pulling back from the market’s high points. Keep an eye on the Market Action Index for a leading indicator of the duration of this down trend.