Wondering how the single family home market in Carmel Valley is doing in 2011? Well, we are just passed the half way point so it is a good time to examine the data and check to see what is happening.
You can see from the attached report that Carmel Valley median prices bottomed out 2 years ago – in the 2nd quarter of 2009. For those wondering “when the bottom will hit”, you already missed that boat – 2 years ago. That said, however, we are still recovering and trying to balance supply and demand in the Carmel Valley market, clear out remaining distressed properties before a fully healthy market can be ushered in.
The price trend might be softening a little (look at the squiggly line) since there is more inventory on the market right now which is typical during the summer selling season. The trend line shows a possible flattening or slight decrease in median price but we’ll have to watch this over the next couple of months before we can declare a “double dip” in median prices.
The number of homes being sold remains steady which is always a good sign – and a requirement – for a stable and balanced market.
Of course, this report shows averages throughout 92130. Your home and neighborhood will undoubtedly have different details and dynamics. Call us today if you would like a free comparative market analysis for your home and neighborhood. Or, if you would like to see the rest of this market analysis report, please contact us today and we’ll send you a PDF file by email.
Enjoy your summer!
