[Please Note: The graphs on this page are updated daily. The links to current listings are current within 15 minutes. The PDF's of sold property are updated every two weeks or so. If you would like more detail about any items mentioned here, send me an email. Thanks, Malone]
As we move into July there are nearly 350 homes for sale in Carmel (Carmel-by-the-Sea and the surrounding area), with properties taking over 180 days to sell.
As the Carmel real estate market has softened I have seen buyers shift their attention from areas such as Carmel Woods or south east neighborhoods of Carmel-by-the-Sea to closer to town and into the “golden rectangle.” Properties are still selling in all neighborhoods but buyers are looking for the perfect home or the near perfect deal. Pricing is an important component of what is selling, and how long it is taking. Correctly pricing a home for sale is more important than ever.
Market Profile
Carmel remains firmly at the “buyer’s market” end of the spectrum. Successful sellers are those that adjust to the changing market by preparing their homes as completely as possible for presentation to buyers and by pricing their homes to differentiate themselves from the competition. If a home meets a buyer’s needs, they should submit a well prepared offer with supporting comparables.
The Market Action Index
The Market Action Index (MAI) measures available supply relative to the current level of demand. Index values above 30 indicate conditions favor sellers, below 30 favors buyers.
Median Price Per Square Foot
Homes in Carmel are not typically priced by “square foot” as there can be a 1,600 square foot home worth $900,000 a block from a home exactly the same size that might be worth $1,800,000. Nevertheless, median and average price per square foot are useful for seeing trends.
Looking at the market by Quartiles
To more accurately describe the sub-markets within Carmel, I report the median price in quartiles. The most expensive 25% of homes make up the first quartile, the next 25% the third quartile, the next 25% the third, and the least expensive 25% are the fourth quartile.
Recent Activity
This section of the report gives you a snap shot of the most recent listings in Carmel. If you have questions about these properties or would like a report covering a specific neighborhood or price range send me an email and I’ll get right back to you. malone@malonehodges.com
Recently Listed
These are the ten most recent most recently listed homes in Carmel
