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.
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.