The median list price in Newport Coast this week is $4,162,500.
The Market Action Index has been climbing lately while days on market are trending down. These point to a positive near-term outlook for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However, prices have not stopped falling. Since the market is already in the seller’s zone, expect prices to level off very soon. Should the sales trend continue, expect that prices could climb from there.
Prices in Newport Coast seem to have “plateaued” here at the all time high. When we see these conditions, we pay close attention to the Market Action Index to gauge the leading indicators and whether prices will fall from here.