Mon May 17 2021
This week the median list price for Newport Coast, CA is $8,000,000 with the market action index hovering around 41. This is an increase over last month's market action index of 37. Inventory has decreased to 42.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$8,000,000|
|Median Price of New Listings||$3,507,500|
|Per Square Foot||$1,202|
|Average Days on Market||119|
|Median Days on Market||60|
|Slight Seller's Advantage|
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$24,550,000||11,654||0.5 - 1 acre||6||10||13||0||1||168|
|$13,000,000||8,690||0.25 - 0.5 acre||6||8||8||1||1||101|
|$5,988,000||5,654||0.25 - 0.5 acre||5||6||22||1||1||42|
|$2,895,000||3,100||4,500 - 6,500 sqft||4||4||21||6||2||28|