The median list price in Laguna Beach this week is $2,495,000.
The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening 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.
Prices in Laguna Beach have been on a downward trend recently, and this week, while essentially, doesn’t break us out of that cycle.