San Diego Real Estate Update - Carmel Valley - November 2024

Inventory in Carmel Valley is coming down as pending sales stay steady. Hang out with me for the next few minutes and I will show you what's going on. If you're new to this channel, please hit that like button and subscribe so you don't miss any of these updates. We are bringing you San Diego zip codes each and every week and we are all over San Diego County and once a week we will bring you San Diego Market Watch where we take a look at the entire San Diego County real estate market and if you have a property to sell anywhere in San Diego County, send us a message. Give us a call. We know your zip code and we know the numbers. Let's jump right into those numbers for Carmel Valley. We are looking at 134 total properties here. 67 of those are active which is lower than what we had last time we looked which was about a month ago. 31 are pending so still about twice as many active depending but again that ratio has come down and 32 sold in the last 30 days which shows you that the demand for prop the demand for property in Carmel Valley is steady and the number of new listings has come down therefore the overall number of homes for sale is down slightly. Now let's take a look at the longer term trends here. First taking a look at median price going back to January of 2021 when Carmel Valley was at $1.682069 million and San Diego County was at $741,000 for a detached home so obviously $92130 way above the San Diego County median for detached homes and then in the spring of 2022 Carmel Valley had ballooned up to $2.675 million and currently at $2.605 million which is lower than that high in 2022 which is interesting. Now let's look at percent of original list price to final closed sale price and like just about every other zip code in San Diego County that buyer enthusiasm and exuberance ended after the spring of 2022. Carmel Valley looks like it peaked out in February of 2022 at 113.3 percent of original list price to final closed sale price and then sliding downhill all the way to 87.6 percent by the fall of 2022. Carmel Valley was on sale in the fall of 2022 amazing and then back up again to 105.7 by March of this year and then it has been going down ever since then we've had this inventory imbalance and the original list price ratio to the final closed sale price currently at 94.6 95 so that is what's happening with closed sale prices when we look at market time it is up San Diego County at 34 days Carmel Valley currently at 44 days with this slight drop in inventory we will see if those market times start to come down again but for now that's what's happening in Carmel Valley if you like this content please remember to like share subscribe and comment so you and drop your zip code in the comments if we haven't covered it yet and we will get to it so we will be bringing you more great real estate information soon stay tuned for that until then have a great day talk to you soon