The median list price
in Laguna Beach this week is $2,495,000. Inventory is tightening and days on market are falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely we will see downward pressure on pricing.
We continue to see prices in Laguna Beach settled at a plateau. This week prices bumped down a bit but not significantly enough to change the overall outlook. Look for a persistent change (up or down) in the Market Action Index before we see prices significantly deviate from these levels.