The median list price in Corona del Mar in the week of July 28 is $3,550,000.
With inventory trending up but days-on-market and the Market Action Index essentially flat recently, conditions do not seem to have strong up or down pull.
Supply and Demand
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a seller’s market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the buyer’s zone, watch for downward pressure on prices.
Price
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high- water mark. Watch for persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.
