Corona del Mar (August 16, 2013)

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This Week

The median list price in Corona del Mar this week is $3,195,000.

The Market Action Index has been trending down lately, while inventory and days on market are climbing. The trends imply a weakening market.

Supply and Demand

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the seller’s zone, prices have not yet begun to drop. It maky take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the buyer’s zone.

Price

In Corona del Mar, this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend over the last several weeks.

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