The median list price in Laguna Beach this week is $2,495,000.
Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. Since this is a buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the seller’s zone, and we are likely to see upward 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.