The median list price in Laguna Beach this week is $2,695,000.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. Since this is a buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the seller’s zone, and we are likely to see upward pressure on pricing.
Price
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the market action index before we see prices deviate from these levels.
