Market View: March 2, 2012 Newport Coast

0
1515

Median List Price

The median list price in NEWPORT COAST this week is $3,397,250. Inventory is tightening and days-on-market decreasing. The Market Action Index has been basically flat. The market is not giving strong up or down signals in these data.

Supply and Demand

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Price 

Prices continued their recent up-trend this week. While still below the market’s high point, we’ve seen a nice run recently.