Market View: February 10, 2012 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,799,000. Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.

Supply and Demand

The market is showing signs of warming up, with sales demand recently increasing faster than inventory. Prices have not yet responded, as the market is still working through excess inventory. It’s unlikely that we’ll see prices level off or move higher until the Market Action Index sustains its upward trend and maybe not until the inventory is depleted enough to create a seller’s market.

Price   

Prices have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. Watch the Market Action Index for any signs of demand increasing.