Newport Coast (November 22, 2013)

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This Week

The median list price in Newport Coast this week is $4,519,000.

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

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 that and begin to fall. Expect price to fall if the index persistently falls into the seller’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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