I would not wait blindly when the numbers already show a clear pricing gap.
If you are trying to decide your next move in Newport Beach, CA, the question is simple do you act now or wait for more clarity? My answer is to pay close attention to price and pace, because last month a typical sale landed at $2,732,500 while the typical active list sat at $4,772,500.
Last month in Newport Beach, CA, the gap between a typical asking price and a typical sale price was large enough to shape the conversation fast. A typical sale took 29 days last month, which tells me buyers were still willing to move, but they were not rushing into every property.
For sellers, that spread matters because the market is asking for realism, not wishful thinking. When active pricing sits well above where closed sales are landing, I would treat the first weeks on market as the time to earn attention, not test patience.
Price with purpose.
Lead with condition and presentation.
If you are buying, compare each home against the closes, not the wish list.
