Newport Coast (May 17, 2013)

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This Week

The median list price in Newport Coast this week is $4,290,000.

Even though days on market are trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.

Supply and Demand

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Price

Prices in Newport Coast hit another all time high this week. You can see that prices continue to march higher. Look for a persistent downtrend in the Market Action Index into the buyer’s zone as a leading indicator of the price strength finally abating.

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