Market View: May 4, 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. While still a buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a seller’s market.

 

Price

We saw no price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.