Newport Coast 11/23/2012

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Median List Price

The median list price in NEWPORT COAST this week is $3,998,800. Inventory has been tightening and days-on-market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals with these data.

Supply and Demand

The market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a buyer’s market, this price trend may be the result of improved quality of the homes being listed.

Price   

Look for a persistent down trend in the Market Action Index into the buyer’s zone as a leading indicator of the recent price strength abating.