Newport Coast:December 14, 2012

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The median list price in Newport Coast this week is $3,947,000.
Inventory is tightening, and days on market are falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices

Supply and Demand
Home sales have been exceeding new inventory for several weeks. However, because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a buyer’s market to a seller’s market.

Price
This week prices in Newport Coast continued to pull back from their recent highs. Keep an eye on the Market Action Index to look for signs of an extended down trend.

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