Market View: September 30, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,969,500. 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 emand. 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  

The local market continues its bounce again this week. We’re a long way from the market’s high point, so watch the Market Action Index to predict how long this trend will last.