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Corona Del Mar
Corona Del Mar
MARKET UPDATE
CORONA DEL MAR, CA
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City Overview Single Family Homes in
Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
8,001 -
Top/First $ 6,945,000 3950 10,000 sqft 4.0 4.0 48 30 1 1 268 Most expensive 25% of properties
6,501 -
Upper/Second $ 3,200,000 3150 8,000 sqft 4.0 3.5 16 30 2 0 282 Upper-middle 25% of properties
6,501 -
Lower/Third $ 1,995,000 2545 8,000 sqft 4.0 2.5 52 31 3 3 250 Lower-middle 25% of properties
4,501 -
Bottom/Fourth $ 1,389,000 2150 6,500 sqft 3.0 2.0 41 31 1 1 248 Least expensive 25% of properties
Median Price
Despite this week's up 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.
Quartile Prices
Prices have generally settled at a plateau, although Quartile 3 is on a bit of an up trend in recent weeks. We'll need to see a
persistent shift in the Market Action Index before we see prices across the board move from these levels.
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized by
analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage
zone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.
Days on Market
The properties have been on the market for an average of 262 days. Half of the listings have come newly on the market in the
past 217 or so days.