The other day we sampled a few recent home sales in Carmel Valley, 92130.
Some wondered, “why does CV seem to be beating the odds?” Besides the top-notch schools, another reason is because it’s the only place in North SD County Coastal where there are loads of newer houses. Most home buyers are not experienced in home repair or improvements, and they get the impression that a newer CV tract house would be the best way to avoid a “money pit”. Home sellers in general would be smart to take a page from the CV playbook, and dial in their house before putting it on the market – today’s buyers are picky and are holding out for the gems.
In particular, the affluent buyers want it all, and it appears that 92130 is a primary destination for those with money. Here are the tax-roll stats on the SFR sales between June 1 and August 17th:
| Area-Zip Code | 2009 | 2010 |
| DM 92014 | ||
| RSF 92067 | ||
| SB 92075 | ||
| LJ 92037 | ||
| CV 92130 |
But there are cheaper homes in CV, how does 92130 stack up with the other high-end areas? Here are the number of SFRs that closed over $1 million between June 1 and August 17th:
| Area-Zip Code | 2009 | 2010 | DM 92014 |
| RSF 92067 | ||
| SB 92075 | ||
| LJ 92037 | ||
| CV 92130 |
Carmel Valley nudged out La Jolla and Solana Beach (which includes Fairbanks Ranch and the Crosby) to have the most sales over $1,000,000 this summer so far. Next we’ll look at the recent down payments used to purchase these houses in the CV!
Nobody calls it “North City West” anymore.
Wonder how 4S Ranch 92127 is compared to CV numbers.
I’m wondering if the increased activity in the older neighborhoods is because prices have actually dropped there, even if they are $1M+ houses.
It seems one can get more “bang for the buck” this year vs. last.
It’s so cookie cutter and sterile up there with tracts and monotonous chain store strip centers. I don’t see it. Gimme a fixer in Mission Hills with character any day! Send your kids to private schools with all the money you save on mortgage payments!
In fact pretty much everything east of the 5 north county is cookie cutter, sterile, homogenous, commercialized, no character crap. I don’t know how anyone can take it. The builders of these communities have zero imagination and are just get rich quick and get out, and the city/county lets them do it b/c they are brainless.
Of course I grew up back in New England, and then much of my 20’s and 30’s in San Francisco…both places that are full of character. So I can’t stomach the cookie cutter suburbia junk. I can’t see why we have to turn America into a cookie cutter, homogenous wasteland (most of SoCal, Phoenix, Vegas,…pretty much the whole sunbelt).
The Bay Area and the Pac North West has done a much better job building attractive communities.
Hyperbole much numbers guy? Nice to see you call other people’s homes crap. Mission hills is crap btw.
sdbri, I’m with Numbers Guy! With some exceptions, like RSF and O-hain.
@numbersguy — we prefer our CV non-fixer and north of 52. If you haven’t yet, go ahead and get your Mission Hills fixer and send your kids to pvt schools.
Frankly, i dont know why you moved to this no-character city we call home. Wouldn’t moving back to New England or San Francisco be a better option for you?
In CV, you have a chance of having your house go up in value to some degree.
In Mission Hills, the money you blow on a private school has no chance in growing in equity.
Is CV overpriced? Sure…but comparing that to Mission Hills is pretty ridiculous. The proper comparison is to rent in Carmel Valley vs. buying in Carmel Valley.
Customization = expensive
Skilled labor is more expensive (even when adjusted for inflation) and building codes are more rigourous today = custom homes are more expensive to build.
The rise of planned neighborhoods with similar floorplans/details maximizes the productivity of labor, minimizes the cost of design/adhering to codes, etc. = cheaper home (all else equal).
I doubt the ‘new’ neighborhoods in San Francisco or the east coast have any more ‘character’ than the new neighborhoods in San Diego (adj for building costs).
Also, I really doubt that there is any savings from buying in Mission Hills over CV. If anything, Mission Hills is probably more expensive (adjusting for size and fit and finish).