Market View: August 12, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,895,000. Inventory has been tightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves in the Seller’s zone, and we are likely to see upward pressure on pricing.

Price   

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.