Newport Coast (November 15, 2013)

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This Week

The median list price in Newport Coast this week is $4,647,000.

Inventory is up and Market Action Index is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Supply and Demand

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Price

Price trends in this zip code continued their recent uptrend this week. While still below the market’s high point, we’ve seen a nice run recently.

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