The median list price in Newport Coast this week is $3,991,500.
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 has been consistently cool for several weeks. Demand levels are low relative to the available inventory. It’s a Buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.