So, what’s been happening with Carmel Valley detached home sales as the year closed out? It all starts with examining the inventory levels because that analysis will lead to understanding all other aspects of the market, such as prices, the number of homes that sell and how long homes are on the market.
In December, there was 4 months of inventory for detached homes priced up to $1.2M. I’ve been using this criteria for my analyses over the last few months, because it is a good predictor for the health of the Carmel Valley market.
The 4 month mark was lower than the previous few months, probably because there were 17 homes that sold and therefore came off the market and there were fewer new listings in December. 4 months on inventory to begin 2011 is a good thing. Check out the chart below which depicts the current inventory.
Of course, call us with any questions you have. Happy New Year. Here’s wishing you a good 2011 in all of your real estate endeavors!
Kevin & Diane Cummins
858-750-9577
2 Years of Inventory Data