Market View: June 3, 2011 Newport Beach

0
1142

Median List Price

The median list price in NEWPORT BEACH, CA this week is $1,849,000. Demand measured by the Market Action Index is increasing and day’s-on-market is trending downward. Even as more properties become available, there are positive trends 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.

Price

The market has been on a downward trend recently and this week, whole essentially flat, doesn’t break us out of that cycle.