Laguna Beach Home Price Market Slides Back to Mid 2004

The March home sale prices for Laguna Beach have been put into Zillow's Zindex market gauge. The results? More decline.

If you track the present value back via the horizontal line, then go down to the time scale, you can see that the fair value in Laguna beach has rolled back to June, 2004. Many houses in Laguna are not selling. Why? They are priced much more than June 2004 values. Not good news for homeowners, but either they want to sell or they don't - it is that simple.

Zillow Index Shows 14% Decline for Laguna Beach

Hot of the presses:

The Zillow index for Laguna Beach shows a decline of about 14% year over year. For someone with a $2,000,000 house value as of last January, the value has declined a whopping $280,000 in 12 months. You can view the index here.

Think about it. That's a $23,000 or so loss EVERY MONTH for a year. Yikes!! ....and the trend is down. Look out below for Laguna Beach home prices. This could be good for Laguna Beach real estate agents, as lower prices eventually will mean more sales, and right now there are pitifully few sales.