Corona del Mar (January 24, 2014)

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This Week

The median list price in Corona del Mar this week is $2,796,500.

Inventory is tightening and days on market falling. The Market Action Index shows demand is heating up. These are mildly positive indications for the market.

Supply and Demand

The market has been cooking off a bit in recent weeks as more homes are available and demand is less. Prices are moving lower as a result.

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.