Market View: September 16, 2011 Newport Coast

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Median List Price

The median list price in NEWPORT COAST this week is $2,797,000. Inventory has been decreasing lately, but he Market Action Index is falling also. With days-on-market climbing, these have relatively negative implications for the market.

Supply and Demand

The Market Action Index has been rending lower for several weeks, while prices have remained relatively stable. If inventory continues to grow relative to demand, however, it is likely that we will see downward pressure on pricing.

Price  

The market for this zip code continues its bounce again 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.