Market View: March 30, 2012 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,374,500. The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.

 

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 is technically a buyer’s market, this price trend may be a result of improved quality of the homes being listed.

 

Price

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