Market View: March 2, 2012 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,195,000. Inventory has been tightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market.

Supply and Demand

Home sales have begun to exceed new inventory. While still a buyer’s market, prices seem to have already started to respond. If the trend continues, expect prices to keep marching upward.

Price  

Despite this week’s downward tick, price trends have generally be moving up lately. We are below the market’s high point, and we’ll investigate the Market Action Index late on to see if we can expect this week’s blip to become a downward trend.