Market View: October 7, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,895,000. Inventory has been decreasing lately but the Market Action index is falling also. With days-on-market climbing, these have relatively negative implications for the market.

Supply and Demand

The market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a buyer’s market, this price trend may be a result of improved quality of the homes being listed (e.g. newer or larger homes).

Price  

Despite this week’s tick down, price trends in this zip code have generally been moving up lately. We are below the market’s high point, and we’ll investigate the Market Action Index later on to see whether we can expect this week’s blip to become a downward trend.