Market View: January 27, 2012 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,799,500. Inventory has been tightening and days-on-market decreasing recently. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals in these data.

Supply and Demand

The market has been cooling in recent weeks. Since this is a buyer’s market where there is excess inventory to satisfy the demand levels, prices have also been moving lower.

Price  

Again this week we see a downward tick 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 of a trough in prices.