The median list price in Corona del Mar this week is $2,820,000.
Inventory has been tightening and days on the market decreasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the seller’s zone, expect prices to level off very soon. Should the sales trend continue, expect that prices could climb from there.
Price
This week’s prices in this zip code remained relatively flat. However, the recent trends have us pulling back from the market’s high points. Keep an eye on the Market Action Index for a leading indicator of the duration of this down trend.
