Here’s another example of how the frenzy has taken a different path in each area.
Carlsbad, Encinitas, La Jolla and Rancho Santa Fe are rolling along with about the same or more pendings than last month – which should have been the peak – but the wheels have come off the wagon in Carmel Valley. There hasn’t been single-digit pendings in the 92130 since we started checking this two years ago! But there are homes for sale, which must mean the prices need some adjustment.
In 2020, there were 400+ pendings from June 22nd to Nov. 30th – with a peak of 491 pendings on Sept. 7.
The main reason most people live there is because of the schools. It’s not very hip or trendy. People with kids can’t really afford it in addition to all the other lifestyle choices that come with that type of income.
The main reason most people live there is because of the schools. It’s not very hip or trendy. People with kids can’t really afford it in addition to all the other lifestyle choices that come with that type of income.
In Carmel Valley? People live there because of the schools but people with kids can’t afford it?
I suspect the same issue in the CV as in Carlsbad and Encinitas: Baby boomer empty-nesters make up a large segment of the population.