The median list price in Newport Coast this week is $4,012,500.
The Market Action Index has been climbing lately while days on market are trending down. These point to a positive near-term outlook for the market.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
While the median price in Newport Coast didn’t fluctuate much this week, we are relatively close to the market’s high-water mark. Watch for a persistent downward shift in the Market Action Index to the buyer’s zone as a leading indicator of the price strength subsiding.