As May comes to an end, we take a look ahead to the summer real estate market in Carmel Valley. Looking strictly at these statistics, an initial impression would be that the market appears to be softening up, but our experience recently has been quite the opposite with properties that are priced well, particularly with homes that fall near the 2nd segment. The $1.5-2.5M range was very hot in Spring, and we anticipate similar activity in the summer.
Properties at this price point are in high demand from out of town buyers looking for a second home. Single level homes are appealing for buyers looking to retire in Carmel Valley, and when priced well, they are selling quickly! Buyers are seeking out offerings in premier valley neighborhoods such as Rancho, Miramonte, Country Club Drive, and Sleepy Hollow.
Pools are a benefit to some, a liability to others. Guest houses are always a plus. Many homes with big valley views have been listed recently, and those views attract the likes of many, but some buyers are looking for more level land in order to have more opportunities for outbuildings. Sometimes we see a rare offering that checks many of the boxes and is priced at market value, encouraging multiple Carmel Valley buyers to compete for the property.
Listed and under contract in less than a week!
Summer Real Estate Market Anticipation | Spring Activity
First time buyers are finding nice opportunities in the Carmel School District. Seaside, Marina and Monterey homeowners are buying in the 700k-900k range in Carmel Valley contingent on the sale of their residence. Those peninsula markets are moving quickly as well, so some Carmel Valley sellers at that price point are working with those kinds of deals.
We’ve seen higher end properties come on the market above $2,000,000, and some get into escrow quickly with such strong interest from qualified buyers in the city looking for a weekend retreat.
Summer Real Estate Market | Lending Update
While rates are, historically, still very low they are going up. Here’s an update from Chad Hawker.
We anticipate great activity as we approach summer. We have a few new listings coming on over the next couple months in the valley as well as the Highlands, so keep an eye out for more from The Heinrich Team.