Market View: January 13, 2012 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 lately and the market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. Since this is a buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the seller’s zone, and we are likely to see upward pressure on pricing.

Price 

We continue to see prices bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.