Newport Coast (August 2, 2013)

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This Week

The median list price in Newport Coast this week is $3,999,000.

The Market Action Index has been trending down lately, while days on market are climbing. The trends imply a weakening market.

Supply and Demand

The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the seller’s market zone, and prices have been moving upward as evidence.

Price

Again this week in Newport Coast we see a downward notch for prices. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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