Market View: July 29, 2011 Laguna Beach
Median List Price
The median list price in LAGUNA BEACH, CA 92651 this week is $1,950,000. Inventory has been tightening and days-on-market has been increasing recently. The Market Action Index has been basically flat, not providing a strong indication for market conditions.
Supply and Demand
Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.
The market for this ZIP code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.