The median list price in Newport Beach is $2,399,000.

Inventory has been lightening lately and the Market Action Index has been trending up. Though the days-on-market is climbing, these are mildly positive indications for the market.

Supply and Demand

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices.

Price

While this week the median didn’t fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action index into the buyer’s zone will be a leading indicator of the price strength subsiding.

Source: Altos Research