Dana Point (Friday, Aug. 9)

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This Week

The median list price in Dana Point this week is $1,399,000.

The Market Action Index has been trending down lately, while inventory and days on market are climbing. The trends imply a weakening market.

Supply and Demand

The market has been cooling off a bit in recent weeks as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the buyer’s zone. Watch for a persistent up-turn in market action to signal prices rising again.

Price

The market has been on a downward trend recently, and this week, while essentially flat, doesn’t break us out of that cycle.

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