Median List Price
The median list price in NEWPORT BEACH this week is $1,749,000. Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications 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 trend continues, expect prices to keep marching upward, especially once we see a seller’s market.
This week saw no price change from last week. However, prices continue to demonstrate a nice up trend in general over the last several weeks.