Market View: February 24, 2012 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,799,000. Inventory is up and the Market Action Index is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Supply and Demand

While prices have recently plateaued, this is a buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the Market Action Index. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

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.