Market View: August 26, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,850,000. Inventory has been decreasing lately, but the Market Action Index is falling also. With days-on-market climbing, these area relatively negative implications for the market.

Supply and Demand

The market has been consistently cool for several weeks. Demand level is 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.

Price   

This week, prices in this zip code bumped up a bit, but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.