Market View: January 21, 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 but the market Action Index is falling also. With days-on-market increasing, these are relatively negative indications for the market.

Supply and Demand

In terms of supply and demand, the market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks, prices have been moving higher. Since it it technically a buyer’s market, this price trend may be a result of improved quality of the homes being listed.

Price 

This week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.