Market View: December 16, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,890,000. Inventory has been decreasing lately, but the market Action Index is falling, also. With days-on-market climbing, these are relatively negative indicators for the market.

Supply and Demand

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

Price          

Prices have been on a downward trend recently, and this week, while essentially flat, doesn’t break us out of that cycle.