Carmel Valley San Diego 92130 Market Update (May 2024)

The San Diego real estate market has been quite interesting lately. About 6 weeks ago, there was a half-point increase in mortgage interest rates, which led to a decrease in buyer affordability by about 5% and a 20% reduction in the buyer pool. As a result, properties that are priced aggressively are selling quickly, while those priced at market value or slightly above are staying on the market longer. As we head into June, there is a 10% increase in inventory in San Diego, particularly in Carmel Valley, with a 7% rise in price per square foot, averaging $849 for a single-family home. This means it’s a good time for buyers to explore properties and make offers before the market becomes more competitive. Sellers are advised to ensure their properties are in excellent condition and accurately priced.

If you have any questions about the local real estate market, feel free to reach out.

What is your home worth? click here.

Homes for sale in Carmel Valley click here.

Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379

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