Median List Price
The median list price in Newport Coast this week is $3,995,000. Inventory has been lightening lately and the Market Action Index is also trending up. Though days on the market is increasing, these are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding inventory for several weeks. While still a buyer’s market, prices seem to have responded by moving upward. If the demand trend continues, expect prices to keep marching upward.
While the price in this zip code did not fluctuate much, we continue to sit at all time high prices. Watch for a persistent down trend in the Market Action Index into the buyer’s zone as a leading indicator of the recent price strength abating.