Dana Point (November 8, 2013)
The median list price in Dana Point this week is $1,274,500.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us of that cycle.