Corona del Mar (January 31, 2014)

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2075

This Week

The median list price in Corona del Mar this week is $2,575,000.

Inventory is up and the Market Action Index trending down recently. Overall conditions are weakening.

Supply and Demand

The market has been cooking off a bit in recent weeks as more homes are available and demand is less. Prices are moving lower as a result.

Price

Again this week we see a downward notch in prices, continuing to pull back from market highs. At this point, we will be looking for a persistent upward shift in the market as an indicator for a trough in prices.