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 till temper the negative trends.
Supply and Demand
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a seller’s market so it is likely that the downward pricing pressure will be a light or variable. Watch for an up-shift in the Market Action Index before price stability is achieved.
This week prices bumped up a bit, but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a change in the market.