Market View: October 21, 2011 Newport Coast

0
1111

Median List Price

The median list price in NEWPORT COAST this week is $2,999,997. Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications 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.

Price     

This 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.