May 2021
35 closed SFR’s thus far with 22 under contract prior to May 1st which could close this week
Median of $1.81M
Carmel Valley is clearly a higher priced market and always has been. There are still a whole bunch that could close this week and pull that median up but as it stands it is looking like 20% y-o-y.
The price action up here is substantially faster this year. Id guess it is because location close to work is less important now. But more importantly our housing stock up here is newer with bigger homes and bigger lots that appeal more to refugees from the North. Just a guess but id bet a nice dinner on that if there was some way to prove it.
Every week that passes it seems like there is more of a fundamental shift going on up here. Im not gonna post all the numbers but 92127 (Del Sur/4S) is seeing almost as strong appreciation (27%) as NCC. There too the housing stock is newer with bigger homes though lot sizes are more similar to CV.
