Newport Beach Market Update

Newport Beach, CA

This week the median list price for Newport Beach, CA is $5,900,000 with the market action index hovering around 63. This is an increase over last month’s market action index of 62. Inventory has increased to 55.

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.

Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.