The median list price
in Laguna Beach this week is $2,495,000. The Market Action Index has been climbing lately, while days on market are trending down. These point to a positive near-term outlook 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 to a seller’s market.
This week, prices in Laguna Beach bumped up a bit, but the trend of recent weeks is generally downward. Keep an eye on the Market Action Index for a leading indicator of the duration of this downward trend.