Market View: November 25, 2011 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 decreasing lately, but the market Action Index is falling, also. With days-on-market climbing, these are relatively negative indicators for the market.

Supply and Demand

The market has been consistently cool for several weeks. Demand is low relative to the available inventory. It’s a buyer’s market and prices continue to fall. Look for a persistent shift in the market Action Index before prices plateau or begin to rise again.

Price    

Again this week we see a downward tick in prices, which have been weak in recent weeks and versus their absolute-high level. At this point, we are looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.