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Carmel Listings Fall 10.8 Percent in November, 2012

The Carmel real estate market didn’t fare so well in November, 2012. Not that there weren’t some improvements, but overall, the market was down not only versus the previous month, but last year as well. Total sales, for example, fell 10.7 percent, from 112 closings in October to 109 in November. But compared to last November’s total of 118 this is a 7.6-percent decrease in sales. The one bright spot: An average of 123 closings took place each month, from September through November of this year, relative to this same period last year, which translates to a 16-percent improvement.

The latest stats for pending sales were no better; in fact, they were worse. The most recent total of 75 pending transactions represents a significant 35.3-percent decrease versus the previous month’s total of 116. Compared to last November’s total of 95 this is a 21.1-percent decrease in pending sales. At least the average number of reported pending sales was up 7 percent, to 107, compared to this same quarter in 2011.

Unlike closed and pending sales, the latest figures for total listings were a ray of light in an otherwise gloomy November real estate market. There were 546 homes for sale in November, which represents a 10.8-percent decrease versus the previous month’s total of 612. Compared to last November’s total of 697 listings this is a decrease of nearly 22 percent—a trend that hopefully continues. Also, from September through November of this year, 610 homes were listed for sale each month, 19.3 percent fewer, versus this same quarter 1 year ago. And of the 546 homes listed for sale in November, 101 came in the form of new listings. This is down 21.1 percent versus the previous month’s total of 128, and down 14.4 percent versus last November’s total of 118. Over the past year, 168 listings have been added to the Carmel market each month on average.

View the complete, original report here.