The median list price in Newport Coast this week is $4,496,500
Inventory has been decreasing lately but the Market Action Index is trending up. These are mildly positive indications for the market.
Supply and Demand
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a seller’s market so watch for upward pricing pressure in the near future.
Price
While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high water mark. Watch for a persistent shift in the Market Action Index into the buyer’s zone as an indicator of subsiding price strength.
