Carmel Valley Real estate update including a discussion of sales price, inventory and residential home sales.
Real Estate market update for the Monterey California residential market. Including a discussion of home price trends and day on market and inventory comparisons.
Carmel Valley pricing slipped in mid 2007 and early 2008 and then suffered an additional decline from late 2008 through the spring of 2009. By giving back value early, Carmel Valley pricing while not appreciating did appear to have found a plateau in 2010 into early 2011 with a slip in values in late 2011. Much of the pricing variability is in the highest end of the market, discussed below. The “Valley” is the most geographically diverse of our markets … Continue reading Carmel Valley Residential Market Snapshot
Pebble Beach Home Sales Pebble Beach is known internationally for its golf courses, magnificent estates, the Pebble Beach Lodge, and 17 mile drive. It may come as a surprise to learn there are 2,900 developed lots in Del Monte Forest (Pebble Beach) the majority of which are homes under 2,800 square feet. While there are homes of larger size and higher price throughout the forest, the majority of the more expensive homes are located closest to the coast, the Lodge, … Continue reading Pebble Beach Market Snapshot
I often get asked what I think the market value is of a home for sale in Carmel, Pebble Beach or elsewhere on the Monterey Peninsula. If the person asking the question is a buyer, the next question is often if I think it can be purchased for less. Sometimes the answer is “yes,” sometimes “no,” and sometimes “let me see what I can find out.” If it does sell for less, was I wrong about my estimate of the … Continue reading Market Value Versus Market Price
Last week Forbes published their “by zip code” analysis of the most expensive zip codes. As expected, the median price of homes for sale in most zip codes fell over the last year. A year ago California accounted for 96% of the top zip codes, this year…less than 50%. Of the California zip codes still on the 500 most expensive zip codes, 83% had median prices that stayed the same or declined. Pebble Beach Pebble Beach experienced an 8% decline … Continue reading Pebble Beach Real Estate Ranking in Forbes 500
Market Profile There are currently 5 Pebble Beach properties in escrow ranging in list price from $1,745,000 to a vacant lot listed for $300,000. (Current Pebble Beach Pending Sales) There have been 13 closed sales in Pebble Beach since October 1, 2008, ranging in sale price from $3,150,000 to $675,000 (Pebble Beach Sales since 10/1/2008). As with other Peninsula markets, Pebble Beach remains firmly at the “buyer’s” end of the spectrum with 207 average days on market. While Pebble Beach … Continue reading 23 January 2009, Pebble Beach Real Estate Update
November is over. Certainly a slower real estate market on the Monterey Peninsula than in the months leading up to it. Carmel Valley Carmel Valley saw only two homes go into escrow. Then again, in November of 2007 there were only three home sales in Carmel Valley in November. The difference? This year list the list price of Carmel Valley properties were $699,000 and $550,000. Last year: $2,850,000, $1,650,000 and $1,475,000. The orange line represents Median Price 1 Year ago, the … Continue reading November 2008 Home Sales Compared to 2007 in Pebble Beach, Carmel, Carmel Valley
There are 150 properties for sale in Carmel, with properties taking over 180 days to sell….when they sell. These days, the number of sellers that “give up” is well above past years. This is reflected in the higher number of expired and canceled listings. As the 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 … Continue reading Carmel Real Estate Market Update 18 Nov 2008