Dana Point (July 5, 2013)

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This Week

The median list price in Dana Point this week is $1,439,000.

The Market Action Index has been trending down lately, while inventory is climbing. These 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

This week prices bumped up a bit, but the trend of recent weeks is generally downward. The Market Action Index is a good leading indicator for the durability of this trend.

_DANA POINT