Market View: August 26, 2011 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $2,795,000. Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper negative trends.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. While still a Buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller’s market.

Price 

In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.