Market View: November 11, 2011 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $3,074,500. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.

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.

Price

The market continues its bounce this week. We’re a long way from the market’s high point, so watch the Market Action Index to predict how long this trend will last.