Corona del Mar (January 17, 2014)

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This Week

The median list price in Corona del Mar this week is $2,845,000.

Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market.

Supply and Demand

The market has been consistently cool for several weeks. Demand levels are low relative to inventory.

Price

Again this week we see a downward notch in prices, continuing to pull back from market highs. At this point, we will be looking for a persistent upward shift in the market as an indicator for a trough in prices.