Market View: April 6, 2012 Newport Beach

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Median List Price

The median list price in NEWPORT BEACH this week is $1,682,000. Inventory and days-on-market are climbing, while the Market Action Index has been trending down recently. The trends imply a weakening market.

 

Supply and Demand

The market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a buyer’s market, this price trend may be a result of improved quality of the homes being listed.

 

Price

The week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend in general over the last several weeks.