Market View: April 8, 2011 Newport Coast

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Median List Price

The median list price in NEWPORT COAST, CA 92657 this week is $2,849,000. With inventory trending up but days-on-market trending down and the Market Action Index essentially flat recently, conditions do not seem to have a strong up or down pull.

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

Prices in this ZIP code have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.