Market View: July 29, 2011 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR, CA 92625 this week is $2,237,500. Inventory has been lightening and days-on-market is increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.

Supply and Demand

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

 

Price                                                                                                   

The market for this ZIP code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.