Market View: April 20, 2012 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,537,000. Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.

 

Supply and Demand

Home sales have been exceeding new inventory for several weeks. While still a buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a seller’s market.

 

Price

The market continues its bounce again this week. We’re a long way from the market’s high point, so watch the Market Action Index to predict how long this trend will last.