Market View: April 13, 2012 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $3,532,800. Days-on-market has been trending up recently, but the Market Action Index and inventory levels are basically flat and not providing strong indications for the market.

 

Supply and Demand

The market has settled in at a relative stasis in inventory and sales conditions. It’s a buyer’s market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.

 

Price

this week’s bump in median price bucks the recent downward trend. The Market Action Index may be especially telling at this point to help determine if we’re in for a long downward trend.