Median List Price
The median list price in NEWPORT COAST this week is $3,074,500. Inventory has been decreasing lately, but the Market Action index is falling, also. With days-on-market climbing, these are relatively negative indicators for the market.
Supply and Demand
In terms of 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.
Prices continued their recent upward trend this week. While still below the market’s high point, we’ve seen a nice run recently.