Market View: February 24, 2012 Newport Coast

Median List Price

The median list price in NEWPORT COAST this week is $3,050,000. Inventory is tightening and days-on-market falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals in these data.

Supply and Demand

The market is getting cooler – more supply is coming on the market relative to the dales 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 market continues its bounce again this week. We’re a long way from the market’s high point, so watch the Market Action Index to predict how long this trend will last.