Market View: April 27, 2012 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,595,000. The Market Action Index has been climbing lately, while days-on-market is trending down. These point to a positive near-term outlook 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.