Market View: May 25, 2012 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,999,000. Inventory is tightening and days-on-market falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

 

Supply and Demand

Home sales have been exceeding new inventory for several weeks. Since this is a buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market well move into the seller’s zone, and we are likely to see upward pressure on pricing.

 

Price

We saw no price change from last week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.