Market View: March 9, 2012 Laguna Beach

0
1136

Median List Price

The median list price in LAGUNA BEACH this week is $1,797,000. 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 Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand, however, it is likely that we will see downward pressure on pricing.

Price

We continue to see prices hovering around the current level, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.