Market View: May 11, 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. The Market Action Index has been basically flat recently, and days-on-market decreasing, so there are not strong signals for the direction of the market.

 

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

This week saw no price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.