June 2022

June 2022

Stabilizing Summer Market

"More than one in five home sellers dropped their price while several measures of homebuyer demand posted largest declines since spring 2020"
May marked a turning point in the pandemic housing frenzy, as buyers regained some control over the market. This limited sense of control comes at a great cost, as 5% mortgage rates and record-high prices have edged many buyers out of the market. Pending sales posted their largest annual decline since spring 2020. The number of homes for sale climbed to a new high for this year, posting its smallest decline since April 2020. A growing share of sellers are recognizing the new limits to their power. More than one in five dropped their price, the highest rate since October 2019.

“The sudden surge in mortgage rates led to a sudden and significant cooldown in the housing market in May,” said Redfin Economics Research Lead Chen Zhao. “However, mortgage rates are now stabilizing and homes remain in short supply, so while we do expect home-price growth rates to decline, we don’t expect prices to fall much at the national level. For homebuyers trying to determine the best timing this year, the main benefit of waiting is that there may be less competition as supply starts to build up.“

Read the full article at https://www.redfin.com/news/housing-market-update-homebuyers-gain-some-control/

Janicke Swanson


Our 4th Annual Client Appreciation Party

Our 4th Annual Client Appreciation Party at Ballast Point was a huge success! Thankful for all of our wonderful clients who came out for good food, drinks, and laughs. Our clients are the heart of our business, and we wanted to show thanks and appreciation to everyone who has worked with us along the way. Thanks again to everyone who came out and we'll see you again next year!

THE NEWS

Housing Market Update: Homebuyers Regain Some Control as Supply Grows and Demand Pulls Back

Why the Growing Number of Homes for Sale is Good for Your Move-Up

RECENT ACTIVITY

PENDING
13227 Petunia Way l Carmel Valley
3 BED l 2.5 BATH l 1,830 SF
Listed at $1,599,000
Representing Seller

PENDING
7190 Shoreline Dr #6302 l UTC
2 BED l 2 BATH l 848 SF
Listed at $699,000
Representing Seller

PENDING
3985 Carmel Springs Way l Carmel Valley
2 BED l 2 BATH l 1,236 SF
Off Market - Asking $1,249,000
Representing Buyer and Seller

SOLD
727 Sapphire #404 l Pacific Beach
STUDIO | 1 BATH | 360 SF
Listed at $569,000 | Sold at $560,000
Representing Seller

SOLD
3937 Carmel Brooks Way l Carmel Valley
3 BED | 2.5 BATH | 1,738 SF
Listed at $1,600,000 l Sold at $1,610,000
Represented Seller & Buyer

SOLD
3415 Lake Park Ave l Fallbrook
3 BED | 2.5 BATH | 1,868 SF
Listed at $715,200 l Sold at $730,000
Represented Buyer

SOLD
252 Saratoga Ct l Vista
3 BED | 2.5 BATH | 1,777 SF
Listed at $799,000 l Sold at $775,000
Represented Buyer

SOLD
12183 Caminito Mira Del Mar l Carmel Valley
3 BEDROOMS | 2.5 BATH | 1,333 SF
Listed at $1,159,000 l Sold at $1,200,000
Represented Buyer

SOLD
5159 Renaissance Ave #A l UTC
3 BEDROOMS | 2.5 BATH | 2,282 SF
Listed at $1,299,000 l Sold at $1,485,000
Represented Seller

SOLD
4070 Caminito Meliado l La Jolla Colony
3 BEDROOMS | 2.5 BATH | 1,427 SF
Listed at $1,249,900 l Sold at $1,300,000
Represented Buyer

SOLD
225 Fir St l Mammoth Lakes
5 BEDROOMS | 5 BATH | 5,565 SF
Sold at $3,837,500
Team Member DeDe Maw Represented Seller

SOLD
217 Starwood Drive l Mammoth Lakes
4 BEDROOMS | 4.5 BATH | 3,802 SF
Listed at $2,599,000 l Sold at $2,650,000
Team Member Peter Maw Represented Seller

SOLD
1855 Magdalene Way l Bay Park
4 BEDROOMS | 2 BATH | 2,341 SF
Listed at $1,390,000 l Sold at $1,650,000
Representing Buyer - Beat 10+ offers

SOLD
12674 Carmel Country Rd #45 l Carmel Valley
3 BEDROOMS | 2.5 BATH | 1,535 SF
Listed at $1,250,000 l Sold at $1,440,000
Representing Buyer

SOLD
7160 Shoreline Dr #4308 l UTC
2 BEDROOMS | 2 BATH | 848 SF
Listed at $659,000 l Sold at $725,000
Representing Seller​​​​​​​

SOLD
2285 El Amigo | Del Mar
4 BEDROOMS | 4.5 BATHS | 3,684 SF
Listed at $3,650,000 l Sold at $3,400,000
Represented Buyer

SOLD
6759 Kenmar Way | Carmel Valley
5 BEDROOMS | 4.5 BATH | 3,226 SF
Listed at $1,999,000 | Sold at $2,175,000
Represented Seller

BUYER NEEDS

- Carmel Valley. & Rancho Penasquitos - Detached up to $1.6M
- UTC/Carmel Valley - condo $750,000 -
- Carmel Valley - Detached up to $2M