The median list price in Laguna Beach this week is $2,798,880. Demand measured by the Market Action Index is increasing and days-on-market is holding steady. With more properties coming available, conditions are mildly positive.
Supply and Demand
The market shows signs of warming up, with sales demand recently increasing faster than inventory. Prices have not yet responded as the market is still working through excess inventory. It’s unlikely that we’ll see prices level off or move higher until the MAI sustains its upward trend and maybe not until the inventory is depleted enough to create a Seller’s market.
Price
Again this week we see a downward notch for prices in this zip code. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
