Your #1 source for Carmel Valley San Diego real estate market updates and luxury homes for sale. We follow the trends of both existing Carmel Valley San Diego homes for sale and recent Rancho Santa Fe real estate that enters into escrow. Our goal is to help provide you direction and analysis of the current conditions and future trends.
July 23, 2010…
Below is a snapshot of this week’s activity with Carmel Valley San Diego Homes for Sale:
Carmel Valley MLS Listings on the Market:
Average List Price $1,297,159 …..Trend is down
Asking Price/SqFt. $383
Least Expensive Listing $199,900
Most Expensive Listing $11,500,000
Average Days on Market 68 …..Trend is level
Total Inventory 274 …..Trend is up
The Bottom Line – Carmel Valley San Diego real estate activity is picking up momentum for the fourth consecutive week with more active listings hitting the market and prices trending slightly down. Over the last seven days there were 18 Carmel Valley San Diego homes that went into escrow. With more inventory and lower prices we may well see home sales pick up after an initial summer lull, which is great news for those buyers who missed out on the Homebuyers Tax Credit but can still take advantage of low interest rates. This can result in a net overall savings despite the expiration of the tax credit.
Now that prices are slightly trending downward and closing times are picking up speed, the Carmel Valley San Diego real estate market should remain stable over the rest of 2010. There were 7 homes that sold over the past week, with a couple distressed properties including a bank owned condo in the lower price range, and a short sale which sold for over $2 million. The higher end listings appear to have a solid foundation with buyers showing a preference for more upgrades and better locations. Neighborhoods in the eastern sections of Carmel Valley, like Palacio Del Mar, Costa Del Sol, Santa Barbara, Santa Fe Summit, Carmel Country Highlands and Soliel are selling well.
Now continues to be a unique buying opportunity for investors and move-up buyers in Carmel Valley San Diego. To find Carmel Valley’s next great real estate value call the Dalzell Group at (858) 755-7740 for a private consultation
