Laguna Beach 11/23/2012

 Median List PriceThe median list price in LAGUNA BEACH this week is $2,499,000. Inventory is up and the Market Action Index is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.Supply and Demand

The market has been consistently cool for several weeks. Demand is low relative to the available inventory. It’s a buyer’s market ad prices continue to fall. Look for a persistent shift in the Market Action Index before prices plateau or begin to rise again.

Price        Again this week we see a downward tick in prices. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices