The median list price in Dana Point this week is $1,395,000.
The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.
Supply and Demand
In the last few weeks, the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the seller’s market zone so watch changes in the Market Action Index. If the market heats up, prices are likely to resume an upward climb.
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.