Market View: April 13, 2012 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,850,000. With inventory and days-on-market basically unchanged and the Market Action increasing, the market is not sending strong directional signals for the near-term outlook.

 

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

This week prices 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.