Carmel Valley San Diego Real Estate Market Update

The Carmel Valley real estate market is currently experiencing a high demand with a low supply of inventory, as indicated by the low Months Supply of Inventory at 1.22. This means that there are not enough homes available to meet the needs of potential buyers, leading to a competitive market.

The 12-Month Change in Months of Inventory at -3.17% indicates that the supply of homes has decreased over the past year, further exacerbating the issue of low inventory. This trend suggests that buyers may have a harder time finding the right home as competition increases.

Despite the limited inventory, homes are selling quickly with a median of only 20 days on the market. This rapid turnover can be attributed to the high List to Sold Price Percentage of 99%, indicating that sellers are receiving close to their asking price. This suggests that buyers are willing to pay a premium for the limited inventory available.

The Median Sold Price of $1,970,000 in Carmel Valley reflects the high demand for homes in the market, driving prices up. Sellers are benefiting from the competitive market conditions, while buyers may face challenges in finding affordable options.

In summary, the Carmel Valley real estate market is currently favoring sellers due to low inventory, high demand, and quick turnover of homes. Buyers should be prepared to act fast and potentially pay a premium for the right property. Sellers, on the other hand, may benefit from listing their homes in the current market conditions to maximize their returns.