Market View: June 17, 2011 Laguna Beach

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    Median List Price

    The median list price in LAGUNA BEACH, CA 92651 this week is $1,950,000. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

    Supply and Demand

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

    Price

    This week prices in this ZIP code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.