The Carmel Valley market has already begun it’s correction as sold properties are getting about 10% less than the peak 6-12 months ago. Personally I see Carmel Valley correcting about 30% total, which isn’t bad since it has gone 100% in the last 5 years. But if you bought your Pardee home for 1.5 million it might only fetch just over a million in the next couple years.
