Market View: August 5, 2011 Newport Coast

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Median List Price

The median list price in NEWPORT COAST, CA this week is $2,595,000. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

Supply and Demand

The market has been consistently cool for several weeks. Demand levels are low relative to the available inventory. It’s a Buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.

Price                                                                                                     

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