Laguna Beach: March 29, 2013

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The median list price in Laguna Beach this week is $2,468,000.

Demand measured by the Market Action Index is increasing and days on market are trending downward. Even as more properties come available, these are positive trends for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a buyer’s market to a seller’s market.

Price

Again this week in Laguna Beach, we see a downward notch for prices. We continue to pull back from the market’s highs. 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.

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