Market View: Mrch 16, 2012 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $3,697,000. Inventory is up and the Market Action Index is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Supply and Demand

The market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks, prices have been moving higher. Since it is technically a buyer’s market, this price trend may be a result of improved quality of the homes being listed.

Price   

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