Corona del Mar (December 6, 2013)

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This Week

The median list price in Corona del Mar this week is  $3,295,000.

Inventory has been lightening lately and the Market Action Index has been trending up.  Though days on the market is trending downward, 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 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.

Price

Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.

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