Laguna Beach (August 16, 2013)

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This Week

The median list price in Laguna Beach this week is $2,395,000.

Inventory and days on market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.

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

Prices in Laguna Beach have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.

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