Market View: February 17, 2012 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,397,000. 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 begun exceeding new inventory. While still a buyer’s market, prices seem to have already started to respond. If the trend continues, expect prices to keep marching upward.

Price                                                                                                    

Recently, prices have settled at a plateau, even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from these levels.