Market View: January 21, 2012 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $2,960,000. Inventory has been tightening lately but the Market Action Index is falling also. With days-on-market is increasing, these are relatively negative indications 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.

PriceĀ 

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.