It seems that everyone is looking for $400/sf around Carmel Valley now. At this pace, it may only take a few more months!
Carmel Valley Annual Stats
| Year | Median SP | Avg $/sf | Avg DOM |
| 2010 | |||
| 2011 | |||
| 2012 | |||
| 2013 |
The Carmel Valley YTD sales are 32% higher than last year at this time, and the pendings look strong too. There are 89 detached homes in escrow, with list prices averaging $381/sf and a median list price of $1,025,000. They average only 20 days on market.
So buy or not buy?
Yes if you can find the right house at the right price. It is harder than it looks, especially in Carmel Valley.
The median SP for the sales closed over the last 30 days is $1,007,500 – the prices are rising so fast it is difficult to keep a level head!
I’d like to help you with that – can I be your realtor?
with prices rising so fast have you seen anyone try to sell a home to another person while they are still in escrow?
Have you done many sales in your career where a person trys to flip a house before they even close escrow?
None – that’s illegal.
You can bet that otrher people try it though!
why is that illegal? What law says that? If someone has a contract to buy a house cant they sell that right to someone else before they close escrow? I’ve heard of people doing it. Is that just hearsay?
You can’t sell something you don’t own. The escrow companies won’t open the next escrow unless your name is on title.
If you had an official option to purchase, you could sell that, but if you are in escrow to buy a house, you have to close the transaction before you can sell it again.
You can informally arrange future events, but no escrow company will process it until it’s official.
ok thx jim
That is good information to have. always heard of people talking about it but I think they were full of beans.
Maybe you can be our relator at some point. Right now we are spooked by this market