The median price in Newport Beach for the week ending April 8 is $2,144,000. Inventory is tightening, and days on market are falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
This week saw relatively little price change from last week. However, prices continue to demonstrate a trend upwards in general over the last several weeks.