Market View: December 9, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,860,000. 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

The market has been consistently cool for several weeks. Demand is low relative to available inventory. It’s a buyer’s market, and prices continue to fall. Look for a persistent shift in the Market Action Index before prices plateau or begin to rise again.

Price       

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