Newport Coast (July 5, 2013)

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This Week

The median list price in Newport Coast this week is $4,427,500.

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.

Price

You can see that prices in Newport Coast are marching upward and that we’re getting close to the market’s all-time high. Watch for a persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.

_NEWPORT COAST