Market View: May 25, 2012 Corona del Mar

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Median List Price

The median list price in CORONA DEL MAR this week is $2,650,000. Inventory is up and the Market Action Index is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

 

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

The market 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.