The median list price in Dana Point, CA this week is $1,469,000. The Market Action index has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market.
Supply and Demand
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Price
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
