The median list price in Newport Coast this week is $4,062,500. Demand measured by the Market Action Index is increasing, and days on market are trending downward. Even as more properties come available, these are positive trends for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However, prices have not yet 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.
This week, price in Newport Coast have remained relatively flat. However, the recent trends have us pulling back from the market’s high points. Keep an eye on the Market Action Index for a leading indicator of the duration of this down trend