Nov
13
Carmel Real Estate Market Update
ByThird Quarter Real Estate Market Update for Carmel, Carmel Valley, Pebble Beach, South Coast & Highway 68 Corridor
The Carmel area real estate markets (see towns included) have a huge oversupply of unsold homes. The number of months supply (meaning how long it would take to sell the current inventory based on prior sales, not including new listings.) is very high. Carmel has the lowest number of months supply at 12 months. The South Coast/Big Sur area has had so few sales it would take over 4 yrs or 50 months to sell the current inventory.
On the other hand the low to mid range markets in Monterey, Pacific Grove, Marina & Seaside have a fairly low supply of homes for sale ranging from a low of 2.7 in Seaside to 6.92 in Pacific Grove.
| 2009 | 2008 | |
| Carmel Real Estate Market Statistics | ||
| Total Homes Sold: | 46 | 35 |
| Current Inventory: | 186 | 151 |
| New Listings: | 86 | 68 |
| Number Months Supply | 12.13 months | 12.months |
| Carmel Valley Real Estate Market Statistics | ||
| Total Homes Sold: | 21 | 16 |
| Current Inventory: | 131 | 137 |
| New Listings: | 69 | 58 |
| Number Months Supply | 18.71 months | 25.70 months |
| Pebble Beach Real Estate Market Statistics | ||
| Total Homes Sold: | 20 | 18 |
| Current Inventory: | 120 | 115 |
| New Listings: | 49 | 54 |
| Number Months Supply | 17.99 months | 19.17 months |
| South Coast/Big Sur Real Estate Market Statistics | ||
| Total Homes Sold: | 4 | 1 |
| Current Inventory: | 67 | 62 |
| New Listings: | 28 | 19 |
| Number Months Supply | 50.39 months | 187 months |
| Highway 68 Corridor Real Estate Market Statistics | ||
| Total Homes Sold: | 37 | 27 |
| Current Inventory: | 152 | 167 |
| New Listings: | 84 | 82 |
| Number Months Supply | 12.33 months | 18.56 months |
| Prior Report- Monterey Real Estate Market Update (Includes Pacific Grove, Marina & Seaside) Third Quarter 2009 |