Dana Point (January 24, 2014)

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1590

This Week

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

Inventory has been lightening lately and the Market Index trending up. Though days-on-market is climbing, these are relatively positive implications for the market.

Supply and Demand

More supply is coming on the market compared to demand. Because we’re still in the seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the buyer’s demand.

Price

This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.