Carmel Valley January sales were 5, down 44% from 9 in January 2011 and 61% lower than the 13 sales last month. The total inventory of properties for sale in January was 70, down 36.9% from January of 2011. This reduced inventory is one factor in the lower sales for the month. A balanced inventory is a first step in establishing a return to more stable pricing.

The median sales price in January was $905,000, up 23.5% from January 2011, and 40% higher than the prior month of December. For a complete review of the market please see the Market Action Report – Carmel Valley January 2012.