The median list price in Corona del Mar this week is $3,425,000.
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Supply and Demand
The market has been cooling, prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market. 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.
