Market View: December 16, 2011 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,100,000. Inventory has been decreasing lately, but the market Action Index is falling, also. With days-on-market climbing, these are relatively negative indicators for the market.

Supply and Demand

The market has been cooling in recent weeks. Since this is a buyer’s market, where there is excess inventory to satisfy the demand level, prices have also been moving lower. Look for a persistent shift in Market Action before prices plateau or begin to rise again.

Price    

Again this week we see a downward tick in prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator of a trough in prices.