Carmel October sales of 17 slowed from the previous month’s total of 20, and were off 40% from the 28 sales in October of 2010. Although Carmel has been this year’s leader in sales on the Monterey Peninsula in comparison to prior years, in October the economic headwinds took a bite out of Carmel’s otherwise improving year. Year to date October sales of 171 are running 17.9% ahead of last years YTD sales of 145.
The median and average sales prices were both down compared to the prior month and October 2010 prices. The selling price versus the original listing price has been holding steady in the 94% range for the last three months. Please see the Market Action Report – Carmel YTD October 2011 for a complete discussion of current trends.
As we enter the 6th year of this real estate cycle, we can expect Carmel to continue to slowly improve in prices and number of sales. Many buyers also enjoy our spectacular Fall weather on the coast and use this Season to finally keep that promise to have a home in Carmel.