NEWPORT COAST (OCTOBER 31, 2014)
The median list price in Newport Coast this week is $4,485,000. Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
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.
While the median price in this zip code hasn’t moved much in the last few weeks,we are relatively close to the market’s high-water mark. Watch for persistent downward shit in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.