Market View: Newport Coast September 14

0
1174

Median List Price

The median list price in NEWPORT COAST this week is $3,195,000. Inventory has been tightening lately, and days-on-market is falling. But demand as measured by the Market Action Index is also trending down. There are no strong up or down signals in these data.

Supply and Demand

The market has been consistently cool for several weeks. Demand is low relative to the available inventory. It’s a buyer’s market, and prices continue to fall. Look for a persistent shift in the Market Action Index before prices plateau or begin to rise again.

Price           

Again this week we see a downward tick in prices. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.