The median list price in Laguna Beach is $2,687,500.
Inventory has been lightening lately but the Market Action Index is trending up. These are mildly positive implications for the market.
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.
While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high water mark. Watch for persistent downward shift in the Market Action Index into the buyer’s zone as a leading indicator of the price strength subsiding.