Dana Point (August 30, 2013)

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This Week

The median list price in Dana Point this week is $1,329,000.

Demand measured by the Market Action Index is increasing, and days-on-market are trending downward. Even as more properties come available, these are positive trends for the market.

Supply and Demand

The market has been consistently cool for several weeks. Demand level is 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. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

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