Dana Point (August 16, 2013)

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This Week

The median list price in Dana Point this week is $1,389,000.

Inventory and days on market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.

Supply and Demand

The market has been consistently cool for several weeks. Demand levels are low relative to the available inventory. It’s a buyer’s market, and prices continue to fall. Look for a persistent shift in market action before prices plateau or begin to rise again.

Price

Again this week, we see a downward notch for prices. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.

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