Newport Coast: December 7, 2012

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The median list price in Newport Coast this week is $3,998,800.

Inventory is tightening, and days on market are falling. But demand, as measured by the Market Action Index, is also trending down. The market is not giving strong up or down signals from these data.

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

PricePrices in Newport Coast seem to have reached a plateau at the all time high. When these conditions are present, pay close attention to the Market Action Index to gauge the leading indicators and whether prices will fall from here.