Market View: March 30, 2012 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $3,595,000. With inventory tending up but days-on-market trending down and the Market Action Index essentially flat recently, conditions do not seem to have strong up or down pull.

 

Supply and Demand

Inventory levels have bee 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

While this week the median price didn’t fluctuate much, we are relatively close to the market’s high-water mark. Watch for a persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.