Newport Coast (March 8, 2014)
The median list price in Newport Coast this week is $4,496,500
Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow, it is likely to see downward pressure on pricing.
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 downshift in the Market Action Index before prices deviate from this level.