The median price in Newport Beach is $1,799,000.
Inventory has been tightening and days on market are decreasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.
Supply and Demand
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index as it can be a leading indicator for price changes.
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift..