Corona del Mar (October 25, 2013)

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This Week

The median list price in Corona del Mar this week is $3,245,000.

Inventory has been decreasing lately but Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.

Supply and Demand

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Price

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

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