Median List Price
The median list price in NEWPORT BEACH this week is $1,795.000. Inventory has been tightening lately, band the Market Action Index has been trending up. The Market Action Index has been basically flat, not providing strong indication for market conditions.
Supply and Demand
The market has settled in at a relative stasis in inventory and sales conditions. It’s a buyer’s market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.
The market has been on a downwrd trend recently and this week, while essentially flat, doesn’t break us out of that cycle.