The 2015 annual sales and median SPs looked pretty good – we know that declining sales are the precursor of a downturn, but only Carmel Valley has a noticeable drop.
There are more new homes for sale than ever in Carmel Valley, and those aren’t all reported as closed sales on the MLS. They have to be soaking up some of the demand for resales:
Annual Number of Sales/Median Sales Price
|Town or Area|
The reason I think we’ll have fewer sales in 2016 is because 2015 was so dang good – it will be hard to keep up!