Corona del Mar (January 3, 2014)

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This Week

The median list price in Corona del Mar this week is $3 million.

The Market Action Index has been trending down lately, while inventory and days on the market is increasing. The trends imply a weakening market.

Supply and Demand

The market has been cooling off in recent weeks, as more homes are available and demand is less. Prices are moving lower as a result. Expect this trend to continue especially if the index falls to the buyer’s zone.

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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