Laguna Beach (October 25, 2013)

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This Week

The median list price in Laguna Beach this week is $2,682,500.

Inventory is tightening and days-on-market is 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

Home sales have been exceeding new inventory for several weeks. While still a Buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller’s Market.

Price

In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend over the last several weeks.

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