Prices continue to creep up. Sales are still decreasing over the last couple quarters but inventory keeps shrinking in Laguna Beach.
However, demand continues to outpace inventory levels. Over the next 6 month current demand for homes can and will support significant increasing in still historic low inventory.
One of the most important factors to look at when deciphering the above data is that Days on Market (DOM) is significantly shrinking, which supports the notion that strong demand for homes is still here.