Market View: March 30, 2012 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,699,000. 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

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

 

Price

Again this week we see a downward tick in prices. Pricing has been weak in recent weeks and versus its 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.