The median list price in Corona del Mar this week is $2,799,999.
Inventory has been lightening lately, and the Market Action Index has been trending up. These are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. Since this is a buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the seller’s zone, and we are likely to see upward pressure on pricing.
We continue to see prices in Corona del Mar hovering around these current levels even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.