Corona Del Mar: February 15, 2013

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The median list price in Corona del Mar this week is $2,475,000.

Demand measured by the Market Action Index is increasing and days on market are trending downward. Even as more properties come available, these are positive trends for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. However, because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a buyer’s to a seller’s market.

Price

Prices in Corona del Mar 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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