Market View: July 27, 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. Inventory has been decreasing lately, but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.

 

Supply and Demand

The Market Action Index has been trending lower for several weeks, while prices have remained relatively stable. If inventory continues to grow relative to demand, however, it is likely that we will see downward pressure on pricing.

 

Price

Recently, prices have settled at a plateau, even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.