Market View: July 8, 2011 Corona Del Mar

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Median List Price

The median list price in CORONA DEL MAR, CA 92625 this week is $2,175,000. Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. While still a Buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller’s Market.

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.