Market View: June 10, 2011 Laguna Beach

0
1453

Median List Price

The median list price in LAGUNA BEACH, CA 92651 this week is $1,990,000. With inventory trending up but days-on-market and the Market Action Index essentially flat recently, conditions do not seem to have strong up or down pull.

Supply and Demand

The market has settled in at a relative stasis in inventory and sales conditions. It’s a Buyer’s market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.

Price

Again this week in this ZIP code we see a downward notch 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 for a trough in prices.