Newport Coast (as of Friday, May 3)

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This Week:

The median list price in Newport Coast this week is $4,100,000.

Inventory is up, and market action is trending down recently. While days on market appear to trending lower, the overall conditions are weakening a bit.

Supply and Demand:

The market has been consistently cool for several weeks. Demand levels are low relative to the available inventory. It’s 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.

Price:

Prices in Newport Coast have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.

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