The median list price in Newport Coast this week is $1,499,000.
Inventory is up, and market action is trending down recently. While days on market appear to be trending lower, the overall conditions are weakening a bit.
Supply and Demand
In the last few weeks, the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the seller’s market zone so watch changes in the Market Action Index. If the market heats up, prices are likely to resume an upward climb.
This week prices bumped up a bit, but the trend of recent weeks is generally downward. The Market Action Index is a good leading indicator for the durability of this trend.