So, you look at sales in 4S Ranch being weak & sales in Carmel Valley being strong and you wonder: why the discrepancy ?
In a downturn, there is always a “flight for quality” and a tendency to “dump the dumps”. That is, prices in the less desirable areas go down first. The more desirable areas are NOT immune to the downturn. They are merely behind the less desirable areas.
The real estate market is like a giant oil tanker. It takes a while for it to change direction. We are in the midst of that process right now.
