Open house over the weekend provided more reminders of the following:

  • Buyers are educated – they know the comps.
  • Buyers hope that higher rates mean lower prices.
  • Buyers are resigned to paying more than last year.

Those that will benefit, and could see values continue higher:

1.  Carmel Valley, due to thin inventory. Nobody wants to leave!

2.  Newer, cheaper homes.

3.  Fully-renovated, turn-key homes.

4.  Coastal.

The rest will have more of a struggle, but the market is healthy enough to pick up any house with an attractive price.

There have been 1,910 NSDCC detached homes sold, year-to-date.  There are only 1,013 for sale – and 80% of those are above $1,000,000! It leaves about 200 houses for sale under $1,000,000, in an area of 200,000+ people.

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