Dana Point this week is $1,300,000
Demand as measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
Supply and Demand
Inventory levels have been relatively consistent to sales. Despite the fact that there is a relatively high amount of inventory, this buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.
Price
While this week the median didn’t fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the buyer’s zone will be a leading indicator of the price strength subsiding.
