In the last 60 days, the Sandicor MLS reports that 34 four-bedroom detached homes closed escrow in the 92130 Carmel Valley zip code. Sale prices ranged from $695,000 to $2,800,000, square footage ranged from 1,895, to 5,800, sale price per square foot ranged from $247.76 to $482.76, and days on market ranged from 4 days to 413 days!
There are currently 23 pending listings, 7 contingent listings, and 69 active listings (all detached homes with 4 total bedrooms in 92130).
Assuming that homes will continue to sell at the same pace they sold in the last two months, we can assume that it will take about four months to sell all the current inventory (69 active listings) of 4-bedroom homes in Carmel Valley. In other words, Carmel Valley has four months of inventory of 4-bedroom detached homes. Of course, not every home will sell in the next four months. Some will sell very soon, some won't sell at all, and others will sit on the market for a long time before they sell, but we can use these numbers to gauge the health of the housing market in specific areas. How fast are homes selling? What's the supply, and what's the demand? I would consider a 4-month supply to be a healthy market, but this isn't jaw-dropping news for those familiar with Carmel Valley (and for those who know the desirability of this community).
The other thing to consider is that different price ranges, sizes, ages, and neighborhoods have different supply and demand. To really understand your marketplace, you need to dive in and look at statistics and trends on a hyper-local level. This is something we look at with all new clients during our Buyer Strategy Session. It's important as a buyer to understand the marketplace that you are purchasing in, so that you can form the proper expectations for your home search and prepare a smart negotiating plan to get you the right home at the right price.
All data reported in this post was found today in the Sandicor MLS.
Justin Gramm is the founder and principal broker of Globella Buyers Realty, your San Diego Exclusive Buyer Brokerage. He also writes this blog, "For San Diego Home Buyers."
Exclusive Buyer Agents do not list homes for sale and never represent sellers. They have no "inventory" to try to sell you. They can represent you in purchasing any home. They are specialists at representing buyers only on the buyers' side of the transaction. Exclusive Buyer Agents work to get buyers the best price and terms when they buy a home.
If you have excellent credit and plan to buy a home or condo in San Diego County within 90 days, contact Justin Gramm to hire an agent on your side of the transaction. Call Justin at (858) 437-2662 or E-mail.
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