The median list price in Newport Coast this week is $4,572,500. 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
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Price
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high- water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
