Laguna Beach (December 13, 2013)

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This Week

The median list price in Laguna Beach this week is $2,895,000.

Inventory has been tightening and days-on-market increasing. The Market Action Index has been basically flat, not providing strong indications of the market conditions.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. While still a buyer’s market, prices seem to have responded by moving upward. If the demand trend continues, expect prices to keep marching upward, especially once we see a seller’s market.

Price

You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all-time high. Watch for persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.

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