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 indicators for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. While still a buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a seller’s market.
Despite this week’s tick down, prices have been trending up lately. We are below the market’s high point, and we’ll investigate the Market Action Index later on to see whether to expect this week’s blip to become a downward trend.