Is Carmel, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Carmel has remained a Seller's Market.
Housing Prices in Carmel, CA
How much do homes in Carmel, CA cost?
Median Sold Price
$1,835,000
$878/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Carmel was $1,835,000 in March 2024, down 0.8% from last year, and the median price per square foot was $878.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $550K | $620K | +12.7% |
2 Bedrooms | $1.1M | $1.1M | -3.2% |
3 Bedrooms | $2.2M | $2.3M | +3.6% |
4 Bedrooms | $3.1M | $3.2M | +3.2% |
5+ Bedrooms | $3.7M | $4.2M | +12.0% |
Summary: Carmel housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
Carmel Valley | $1.6M | $1.6M | +2.6% |
Pebble Beach | $2.6M | $2.7M | +1.4% |
Monterey | $1.0M | $1.0M | 0.5% |
Carmel | $1.8M | $1.8M | -0.8% |
Housing Supply in Carmel, CA
How many homes are available in Carmel, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
70 | 84 | +20.0% |
Summary: The Carmel real estate market had 84 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 25 | 26 | +4.0% |
3 Bedrooms | 25 | 30 | +20.0% |
4 Bedrooms | 15 | 22 | +46.7% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Carmel housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 17 | +13.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Carmel in March 2024, up by 13.3% month-over-month. Of the 17 sold homes, 47% were sold under asking, 35% were sold at asking, and 18% were sold over asking.
Days on Market for Carmel, CA
How long does it take to sell a home in Carmel, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 50 Days | +20.0% |
Summary: Homes in Carmel had an average of 50 days on market in Mar 2024, up by 20% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 17 homes were sold in Carmel; 65% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.