The median list price in Corona del Mar this week is $3,347,500.
Inventory has been decreasing, but the Market Action Index is falling also. With day on market climbing, these are relatively negative implications for the market.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
You can see that prices in Corona del Mar are marching upward and that we’re getting close to the market’s all-time high. Watch for a persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.