Newport Coast (June 7, 2013)

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This Week

The median list price in Newport Coast this week is $4,395,000.

Inventory has been decreasing lately, but the Market Action Index is falling also. With days on market climbing, these are relatively negative implications for the market.

Supply and Demand

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

Price

While this week the median price in Newport Coast didn’t fluctuate much, we continue to sit at all time high prices. 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.

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