The median list price in Corona del Mar this week is $2,896,500. Inventory is up and market action is trending down recently. While days on market appear to be trending lower, the overall conditions are weakening a bit.
Supply and Demand
In terms of supply and demand, the market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been mobbing higher. Since it is technically a buyer’s market, this price trend may be a result of improved quality (newer, larger) or the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
In Corona del Mar, this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.