Laguna Beach median sold prices plunged $250,000 in November to $1,450,000. That is a $650,000 drop since August and is the lowest monthly print in over 4 years.
That said, all evidence points to higher prices. With pending prices at almost $2,000,000. My short-term Pending Indicator - which has never been wrong - has just issued a very strong up signal. With the year-to-date at $1,900,000, there is no way 2019 will not be a record year. In fact, 2019 has been so robust, I am now forecasting still higher prices for 2020.
Be sure to join me next month for my special year-end report and check out my new market segment supply charts on page 6.