Median List Price
The median list price in LAGUNA BEACH this week is $2,585,000. Inventory has been decreasing lately, but the Market Action Index is falling, also. With days-on-market climbing, these are relatively negative implications for the market.
Supply and Demand
The market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a buyer’s market, this price trend may be the result of improved quality of the homes being listed.
Prices are marching upward. Watch for a persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.