The median list price in Corona del Mar this week is $3,992,500. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
The market has achieved a relative stasis point in terms of supply and demand – conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Price
While this week the median price in this zip code didn’t fluctuate much, 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.
