The median list price in Laguna Beach this week is $2,497,000.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
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a seller’s market, so watch for upward pricing pressure in the near future if the trend continues.
In the last few weeks we’ve seen prices in Laguna Beach bouncing around this plateau. Look for a persistent downshift in the Market Action Index before we see prices deviate from these levels.