Market View: November 4, 2011 Laguna Beach

0
1221

Median List Price

The median list price in LAGUNA BEACH this week is $1,650,000. Demand as measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. However, because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a buyer’s market to a seller’s market.

Price                                                                                                     

This week, prices bumped up a bit, but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.