The median list price in Laguna Beach this week is $2,399,000.
Inventory has been lightening lately, and the Market Action Index has been trending up. Though days on market are increasing, these are mildly positive indications for the market.
Supply and Demand
The market has been consistently cool for several weeks. Demand levels are low relative to the available inventory. It’s a buyer’s market and prices continue to fall. Look for a persistent shift in market action before prices plateau or begin to rise again.
Again this week in Laguna Beach we see a downward notch for prices. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.