Market View: December 2, 2011 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $2,999,497. Inventory has been decreasing lately, but the market Action Index is falling, also. With days-on-market climbing, these are relatively negative indicators for the market.

Supply and Demand

The Market Action Index has been trending lower for several weeks, while prices have remained relatively stable. If inventory continues to grow relative to demand, however, it is likely that we will see downward pressure on pricing.

Price  

Recently, prices have settled at a plateau, even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.