Market View: August 19, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,800,000. Inventory has been tightening days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.

Supply and Demand

The market has settled in at a relative stasis in inventory and sales conditions. It’s a Buyer’s market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.

Price     

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.