Market View: June 29, 2012 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,595,000. Inventory has been lightening 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. However, because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there.

 

Price

Prices have been on a downward trend recdently, and this week, while essentially flat, doesn’t break us out of that cycle.