Market View: June 23, 2011 Newport Coast

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Median List Price

The median list price in NEWPORT COAST, CA 92657 this week is $2,995,000. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening 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                              

We continue to see prices in this ZIP code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.