Dana Point (July 26, 2013)

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This Week

The median list price in Dana Point this week is $1,499,000.

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 cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices moves 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 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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