Market View: June 29, 2012 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $3,497,000. Even though days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook 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, prices continue to demonstrate a nice upward trend in general over the past several weeks.