Our local market continues to impress with strong demand and increasing sales prices. Inventory levels are down significantly. For all of Carmel, the number of active listings is down 38% from March and down 35% in Pebble Beach. In Carmel, there are only two single family homes on the market under $1M and only 24 under $2M. Furthermore, last month sellers in Carmel received an average of 111% of their asking price!
The absorption rate is another way we evaluate the strength of the market. The absorption rate is the number of sales per month divided by the number of listings. Traditionally, an absorption rate over 20% signals a seller's market, while a rate under 15% indicates a buyer's market.
Absorption Rates | 2020
Carmel 93921 and 93923
ACTIVES
SALES
Absorption Rate
June
151
26
17%
July
139
52
37%
Aug
121
74
61%
Sept
119
64
54%
Oct
94
65
69%
Pebble Beach 93953
ACTIVES
SALES
June
66
13
20%
July
58
19
33%
Aug
50
16
32%
Sept
51
26
51%
Oct
48
22
46%
The moral of the story is that buyer's need to be prepared for a competitive landscape with limited choices. But the question everyone is asking is how long do you think this will this last?
Carmel Realty Company Honored to Receive Two LRE Awards
Who's Who in Luxury Real Estate held their 2025 Luxury Real Estate Fall Conference from September 14th through the 17th at the iconic Hotel Del Coronado in Coronado, CA. The Annual LRE(R) Awards Celebration, now in its 18th year, took place on Wednesday, September 17th, where prestigious brokers from across the globe gathered to share knowledge, experiences, connect with fellow members, and honor the best in the industry. We are proud to have received two of their prestigious awards!
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