Corona Del Mar: November 30, 2012

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Median List Price

The median list price in Corona del Mar this week is $2,547,000. Even though days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. However, because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially resume their climb from there.

Price     

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks. At this point, we will be looking for an up-shift in the Market Action Index as a leading indicator for a trough in prices.