Corona del Mar (November 15, 2013)

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This Week

The median list price in Corona del Mar this week is $2,887,000.

Inventory is up and Market Action Index is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Supply and Demand

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

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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