Carmel Valley Ranch 2Q2024

Spring has sprung this quarter in Carmel Valley Ranch with 5 sold properties, 1 active, and 1 pending. Similar to 1Q2024, this quarter we have seen a very quick turnaround for properties priced competitively. We’re continuing to see properties priced under $2 million have shorter days-on-market and selling close to, if not right at, full asking price. The average list price discount stayed steady at 3%, which is on par for the last two quarters. A few notable sales were 9919 Club Place Lane, 28096 Barn Way and 10472 Fairway Place. Club Place Lane went into escrow the day it came to the market. Barn Way went into escrow in 5 days and Fairway Place sold at list price for $1,950,000 after being on the market for 46 days. Compared to 1Q2024, there was a 47% decrease in days-on-market this quarter, showcasing that the well-priced homes are moving quickly.

For Sellers, this proves the point that pricing is key to get your home sold for the highest number in the shortest amount of time. When you price your home right, history has proven that the sale of the home will be quicker. Listing your home for a premium number, especially in The Ranch, can end up having a negative impact, keeping your house on the market longer and likely resulting in having to do price reductions, thus costing the homeowner more money in the end. For Buyers, these sales show that the market is strong in this price point and it’s important to bring the best offer possible to have a higher chance of winning the bid.

Demand continues to remain strong for well-priced homes in desirable locations like Carmel Valley Ranch. Who you hire matters and having an experienced, knowledgeable, well-respected agent is critical to having a successful and smooth home buying and selling process. It will be interesting to see how the next half of 2024 unfolds while looking at macroeconomics and the current buyer demand and sellers’ motivation. We’re seeing the market lean towards Carmel Valley Ranch as it continues to serve as an attractive community due to the appealing price point and offering resort-like amenities.