Market View: January 13, 2012 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $2,999,000. Inventory has been tightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.

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

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.