Market View: December 30, 2011 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,095,000. Inventory has been tightening and days-on-market decreasing recently. The Market Action Index has been basically flat, not providing a strong indication for market conditions.

Supply and Demand

The market has settled in at a relative stasis in inventory and sales conditions. It’s a buyer’s market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.

Price     

This week, prices bumped up a bit, but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.