Tuesday, March 17, 2009

Laguna Sales Crater - Laguna Beach Has 6.25 Years of Real Estate Inventory

Based on the latest dataquick reports (6 properties sold in Feburary), Laguna Beach has a huge inventory of homes for sale that would take over 6 YEARS to sell. (Redfin indicates 442 properties are on the market right now)

What does this indicate? More huge price corrections to the downside for Laguna Beach home prices. When nothing is selling, sellers must reduce prices or not sell. No one can fight the market direction. Buying a home now at the typical high asking price would be a stupid, catastrophic decision.

1 comment:

Matt said...

Hey Mr.Blue, what's your email? I can send you some Redfin data on the situation if you'd like another data set to look at.

Matt from Redfin
matt.goyer@redfin.com