Is Carmel, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$1,935,000
$905/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Carmel was $1,935,000 in May 2024, up 12.2% from last year, and the median price per square foot was $905.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $550K | $620K | +12.7% |
2 Bedrooms | $1.0M | $1.1M | +7.4% |
3 Bedrooms | $2.0M | $2.3M | +17.9% |
4 Bedrooms | $3.2M | $3.2M | +0.8% |
5+ Bedrooms | $3.7M | $3.6M | -2.2% |
Summary: Carmel housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Cities
Carmel | $1.7M | $1.9M | +12.2% |
Monterey | $1.0M | $1.0M | +2.9% |
Pebble Beach | $2.7M | $2.7M | 0.3% |
Carmel Valley | $1.6M | $1.6M | -0.5% |
Carmel-by-the-Sea | $2.4M | $2.2M | -8.7% |
Housing Supply in Carmel, CA
How many homes are available in Carmel, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
96 | 103 | +7.3% |
Summary: The Carmel real estate market had 103 homes for sale in May 2024, a 7.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 29 | 26 | -10.3% |
3 Bedrooms | 30 | 32 | +6.7% |
4 Bedrooms | 25 | 26 | +4.0% |
5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Carmel housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 22 | -4.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Carmel in May 2024, down by 4.3% month-over-month. Of the 22 sold homes, 59% were sold under asking, 32% were sold at asking, and 9% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 44 Days | +61.2% |
Summary: Homes in Carmel had an average of 44 days on market in May 2024, up by 61.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Carmel; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.