The median price
in Newport Beach is $1,795,000.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
Home sales continue to outstrip supply, and the Market Action Index has been moving higher for several weeks. This is a seller’s market so watch for upward pricing pressure in the near future if the trend continues.
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.