Corona del Mar (June 21, 2013)

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This Week

The median list price in Corona del Mar this week is $2,988,000.

The Market Action Index has been basically flat recently, and days on market are decreasing. There are not strong signals for the direction of the market

Supply and Demand

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the seller’s market zone, so watch changes in the Market Action Index. If the market heats up, prices are likely to resume an upward climb.

Price

In the last few weeks we’ve seen prices in Corona del Mar bouncing around this plateau. Look for a persistent downshift in the Market Action Index before we see prices deviate from these levels.

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