Market View: January 27, 2012 Newport Beach

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Median List Price

The median list price in NEWPORT BEACH this week is $1,595,000. Inventory has been tightening and days on market increasing recently. The Market Action Index have been basically unchanged, not providing strong indication for market conditions.

Supply and Demand

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes, as it can be a leading indicator of price changes.

Price       

Despite this week’s uptick, the market seems to have paused around this plateau. The Market Action Index is  good leading indicator for the durability of this shift.