Corona del Mar (as of Friday, May 3)

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This Week:

The median list price in Corona del Mar this week is $3,145,000.

The Market Action Index has been basically flat recently, and days on market are decreasing. There are not strong signals for the direction of the market.

Supply and Demand:

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Price:

Price trends in Corona del Mar continued their recent uptrend this week. While still below the market’s high point, we’ve seen a nice run recently.

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