Median List Price
The median list price in NEWPORT COAST this week is $3,650,000. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Supply and Demand
The market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent week, prices have been moving higher. Since it is technically a buyer’s market, this price trend may be a result of improved quality of the hoes being listed.
This week the median price didn’t fluctuate much. Watch for a persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.