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February 19, 2011

No big trend shift in Carmel Valley 92130 Stats!
The market inventory of detached single family homes in the Carmel Valley area is growing as can be expected in February and March. The median price for the last week is off a bit at $999,000. This price trend has been continuing for the last few weeks, but is not seen as unusual for this season and time of the year and the trend is seen as flat. Twelve new listings came on to the market last week with fourteen being absorbed. Most of the listings and sales were in the $700,000 to $1,200,000 price range (which does not to include condo sales).

While most would label this as a strong "Buyer's" market the average time on market for a home listed for sale is 133 days (adjusted for re-listed properties this equals 152 days). Nobody is suggesting huge discounts, as asking price, and time on market are showing little or no change. Prices seasonally increase starting in March and peak in July, an indication that this maybe an ideal time to consider selling and buying for the move up buyer. The pressure of increasing interest rates may show a shift in the market, but it will take a strong surge in buyers entering the market to change this picture it appears.



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