Price per Sq. Ft.
12530 Carmel Creek Rd., Unit 143 SOLD for $650,000 ($752.31 per square foot) on December 7th, 2022.
The 2 bed 2 bath lower level unit was listed for $669,000 on September 5th, 2022 and was on the market for 68 days before going into escrow. This unit closed escrow in 30 days. The unit sold for $19,000 under list price. The Buyer obtained a loan for $450,000 or 69% of the purchase price or loan-to-value allowing the Buyer to stay well within conventional loan down payment limits and avoiding private mortgage insurance (PMI).
In terms of upgrades, this home had modest improvements. The most noticeable being engineered wood flooring in the living/dining room, new lighting and (white) painted cabinets in the kitchen.
Despite being well marketed (e.g. photographs, staging, etc.), we see a noticeable drop in the price per square foot - dropping to $752.331 PPSF (vs the 2022 average of $859.46 PPSF). The PPSF average includes 6 other equivalent (2 bed 2 bath) Del Mar Villas unit transactions. This extended days on market (DOM) could have been for a variety of different reasons, but coincides with the end to the Seller’s Market which we happened around the June/July 2022 timeframe and resulted in a “pause” in market activity as we saw interested rates dramatically increase to numbers we haven’t seen since the early 2000s.
Inside information from the
#1 condo agents in Carmel Valley.
No stairs (ground floor unit).
SW oriented unit will capture the most sunlight, especially during the winter months.
Quick and convenient access to multiple parking areas and walkways secluded side of Del Mar Villas (near Camino Mira Del Mar).
None we can see.
This sale represents the end of the "Sellers Market", with shifting market conditions (towards a “Buyers Market”). Despite being one of the most highly sought after condominium communities in Carmel Valley, we start to see a dramatic increase in the days on market (DOM) and a drop in the price per square foot (PPSF). A great opportunity for Buyers in a position to invest and are playing the long-game.
Identifying the upgrades, the PRO's and the CON's of each unit and each sale and then knowing these sales comparables intimately is the key for your agent to plead your case to a seller and help you negotiate and then buy at the absolute lowest price point possible, without this in depth homework, you do not have a strategic advantage to negotiate. DO NOT put your trust in anyone other than the most experienced condo buyers agents that you can find. Put your trust in Brant Lee and Chaco Clotfelter the #1 condo agents in Carmel Valley to help you identify opportunities, competitively navigate and then negotiate the offer process and then enjoy a position of control once in escrow.
We encourage you to give us an hour of your time and we will give you a one-hour driving tour of Carmel Valley condo complexes and we guarantee that you'll learn more in an hour with one of us than you will searching for information about Carmel Valley condos on the internet for a month. We strive to provide value and arm those that trust us with the most valuable and compelling insight into each complex to help you find the right fit in a complex and then negotiate on your behalf to help you achieve the best possible outcome in the market.
When looking for the “right” agents to list your home, make sure they have in-depth knowledge and insight of your community, nearby communities, and the surrounding area, including floor plans, community pros and cons, HOA CC&Rs, rules and regulations, state/local laws and other factors that may effect the sale of your property.
Expect more from your real estate agent. DO NOT put your trust in real estate agents that treat you like another transaction. Any licensed real estate agent can run comparative reports, but do they really know your community inside and out?
We specialize in the 32 townhome/condominium communities in Carmel Valley.
Put your trust in Brant Lee and Chaco Clotfelter the #1 townhome/condominium agents in Carmel Valley to help guide you through the selling process. Our experience and in-depth market knowledge can help you competitively price your property, assist with property preparation and presentation, finding buyers, and successfully negotiating and dealing with them. All of this matters as it relates to our goal to get you the highest and best price possible for your home, and earn a client for life.
We encourage you to give us a call to discuss how we can help you sell your home.
12530 Carmel Creek Rd unit 143, San Diego, CA, USA