Newport Beach (October 18, 2013)

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This Week

The median list price in Newport Beach this week is $2,399,000.

Inventory has been tightening and days-on-market is 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 sign of prices changing from their current trend.

Price

This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.

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