Newport Coast (July 12, 2013)

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This Week

The median list price in Newport Coast this week is $4,590,000.

Even though the days on market are trending higher, so is the Market Action Index at these inventory levels, providing a neutral 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.

Price

This week prices in Newport Coast remained relatively flat. However, the recent trends have us pulling back from the market’s high points. Keep an eye on the Market Action Index for a leading indicator of the duration of this down trend.

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