Market View: September 2, 2011 Laguna Beach

0
1254

Median List Price

The median list price in LAGUNA BEACH this week is $1,849,500. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications 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  

Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.