The median list price in Corona del Mar this week is $2,462,500. The Market Action Index has been trending down recently, but, as days on market decrease also, there are not strong signals for the direction of the market.
Supply and Demand
The market has been consistently cool for several weeks. Demand levels are low relative to available inventory. It’s a buyer’s market, and prices continue to fall. Look for a persistent shift in market action before prices plateau or begin to rise again.
Price
Again this week in Corona del Mar, we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
