Carmel Valley Housing Market Forecast
Many recent Carmel Valley open house visitors have been asking about the market and where it’s going. We wanted to provide a quick update to our friends in Carmel Valley. There are many free real estate data tools used to find real estate statistics, trends, and market updates. These tools are helpful, but sometimes it is best to hear the perspective from a real estate professional, or in our case – a team of Realtors.
Carmel Valley is a good market for both buyers and sellers. Sellers are getting great prices for their homes as we have such limited inventory and strong demand. Buyers are getting into the Carmel School District, one of the best school districts in the nation, and property values continue to increase.
Carmel Valley Housing Market Forecast | Is it a Good Time to Sell in Carmel Valley?
We believe so, as home values in Carmel Valley have increased 4.4% in the last year. Sellers, as of July 2017, are receiving 98.4% of list price. The median sales price has increased 8% in the last three months from $1,138,000 to $1,225,000.
Carmel Valley Housing Market Forecast | Is it a Good Time to Buy in Carmel Valley?
We believe so, as values continue to increase and we don’t anticipate signs of slowing down. Carmel Valley will always be a retirement destination, a place of interest for those local Carmel, Pebble Beach, and Pacific Grove residents to relocate to a sunny environment and escape the fog, and a place for young families looking to put their children through the Carmel School District who want more land and square footage than the aforementioned cities.
We live in a second home market with many nuances not reflected in the general market trends of California. Consider the beautiful scenery, great school districts, and healthy local market when making your decision when considering a real estate transaction in Carmel Valley. As always, we are here to help however we can.