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Sales Activity: Sales activity in Carmel Valley remains consistently active. There were 53 closed sales during the past month, raising the total number of closings year-to-date from 400 to 453. The number of homes in escrow increased to 123 compared to 119 a month ago. Of those, 39 are contingent sales, the majority of which are “Short Sales”.
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Inventory levels: During the last month, the total number of homes listed for sale dropped to 271 from 298 a month ago. The inventory level remains just at a 5 – month supply across all price points. This indicates a fairly stabilized market.
The Silver Lining: Carmel Valley’s supply / demand ratio continues to show a stabilized market. This is great news for both the Buyers and Sellers. Carmel Valley remains one of the most stable communities within its geographic area. The favorable balance of the number of home sales and the number of homes available to purchase, continues to provide both sellers and buyers a level of comfort in making their selling and buying decisions.
Mike has had over 31 years of real estate and banking experience. Early on in his career, he spent gaining knowledge in the Savings and Loan industry where he successfully lead several institutions through the Savings and Loan crisis of the early 90′s. Real estate experience came earlier on in Mike’s career as he managed and supervised real estate loan matters as well as REO Sales. It wasn’t until 1997 that Mike made the switch and became one of the county’s most successful real estate agents. Mike has a unique perspective and overall knowledge of the industry by having spent more than 31 years in real estate sales and real estate banking.