The median price in Newport Beach is $1,950,000.
Demand measured by the Market Action Index is increasing and days on market are holding steady. With more properties coming available, conditions are mildly positive.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Prices continue their climb again this week. We’re a long way from the market’s price highpoint, so watch the Market Action Index as an indicator of how long this trend will last.
[…] Originally published in Coastal Real Estate Guide […]