This Week
The median list price in Corona del Mar this week is $2,820,000.
Inventory has been tightening and days on the market falling. The Market Action Index shows demand hearing up. These are relatively bullish signs for prices.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Price
While the median price in this zip code dipped a bit this week, the median price hasn’t moved much in the last few weeks and we remain 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 price strength subsiding.
