The median list price in Laguna Beach this week is $2,495,000.
The Market Action Index has been trending down lately, while inventory and days on market are climbing. The trends imply a weakening market.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
In the last few weeks, we’ve seen prices in Laguna Beach bouncing around this plateau. Look for a persistent downshift in the Market Action Index before we see prices deviate from these levels.