Corona del Mar (June 28, 2013)

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This Week

The median list price in Corona del Mar this week is $3,195,000.

Inventory is tightening, and days on market are falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

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 these current levels. Look for a persistent change in the Market Action Index before we see prices deviate significantly from here.

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