The median list price in Newport Coast this week is $3,899,000.
Inventory has been decreasing lately but the Market Action Index is also falling. With days on market climbing, these are relatively negative implications for the market.
Supply and Demand
The market has been consistently cool for several weeks. Demand levels are low relative to the available inventory. It is a buyer’s market and prices continue to fall. Look for a persistent shift in market action before prices plateau or begin to rise again.
This week prices in Newport Coast continued to pull back from their recent highs. Keep an eye on the Market Action Index to look for signs of an extended down trend.