Newport Coast (August 16, 2013)

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This Week

The median list price in Newport Coast this week is $3,991,500.

Inventory and days on market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.

Supply and Demand

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the buyer’s zone. Watch for a persistent up-turn in market action to signal prices rising again.

Price

This week prices in Newport Coast 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.

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