The median list price in Newport Coast this week is $3,999,440.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days on market are increasing, these are mildly positive indications 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.
Despite this week’s down tic, the price trend in Newport Coast remains upward for several weeks. We’re within sight of the market peak, and we’ll assume this week’s change is just randomness unless we see a persistent downward push of the Market Action Index into the buyer’s zone.