Corona del Mar (August 2, 2013)

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This Week

The median list price in Corona del Mar this week is $3,079,000.

Inventory is tightening, and days on market are falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

Supply and Demand

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Price

Again this week in Corona del Mar, we see a downward notch for prices. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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