The median list price in Newport Beach is $2,495,000.
Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive market trends.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Price
Prices appear to be hovering around their high point. Look for a persistent downward shift in the Market Action Index before we see prices deviate from these levels.
