The median list price in Newport Coast this week is $4,496,500
Inventory has been decreasing lately but the Market Action Index is falling also. With days on market climbing, these are relatively negative implications for the market.
Supply and Demand
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the seller’s market zone and prices have been moving upward as evidence.
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 subsiding price strength.
