Abalone Landing Terrace in Carmel Valley has had a typical frenzy – low inventory and rapidly rising prices. There were two sales that closed in 2020 – one $1,650,000 in July and $1,780,000 in October.
At the end of May, 2021 a new listing hit the open market at $1,950,000, and was promptly bid up to $2,120,000. It closed on July 8th, and it must have gotten other residents thinking.
Four new listings have hit the market in the last week:
https://www.compass.com/listing/10545-abalone-landing-terrace-san-diego-ca-92130/827464186068610169/
https://www.compass.com/listing/10569-abalone-landing-san-diego-ca-92130/825523085738089617/
https://www.compass.com/listing/10540-abalone-landing-terrace-san-diego-ca-92130/826913112627057657/
https://www.compass.com/listing/10448-abalone-landing-terrace-san-diego-ca-92130/831161978141937465/
This is a street of 50 homes, with about half of them still owned by the original purchaser from 2002-2003. After having only three sales in the last two years, the four new listings in a week is shocking!
It’s Carmel Valley, so there probably won’t be an issue with these selling. But it shows how quickly the market can change, and provide the buyers with even more data to consider.
