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MLS Listings of Detached Homes in Carmel Valley, 92130:

ACTIVES:  111 

$1,778,211 average list price,  $399/sf,  132 Avg. Days on Mkt.

(25% of those homes on market more than 6 months)

PENDINGS:  63 

$1,163,104 average list price,  $336/sf,  76 Avg. DOM

(41 pending, 22 contingent)

DEC. 09 SOLDS:  47 

$1,032,650 average sales price,  $331/sf,

75 DOM,  96% SP:LP

DEC. 08 SOLDS:  20

$1,092,245 average sales price,  $346/sf

46 DOM,  95% SP:LP

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In areas like CV, I think you can count the contingents as ‘likely-to-close-someday’, because the low inventory and quick sales are causing buyers to hang in longer, and pay more if needed – just to buy something, and conclude the hunt:  

There have been 16 houses listed over $1,000,000 that have gone pending this month in Carmel Valley. In 2009, there were 121 closings over $1,000,000, averaging $338/sf.

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