MAYBE THE BEST YEAR EVER!

by James Frangella
written on November 8, 2009 @ 7:00am

The best year ever? For some Peninsula cities, yes it will be. There is one city in particular that will sell more single family homes, condos and multi-dwellings this year than ever since 1998. The affordable community of Seaside is taking the cake.

There is no doubt that the average selling price year-to-date has dropped for just about every town including Carmel.  Click HERE to review the averages as of the 3rd quarter for 2009.  But one thing I’ve said for the last 18 months is … so what if the averages have dropped! The point is that homes are still selling.

As of December the 20th, Seaside has already sold 291 units, which includes homes, condos and apartments. 2009 projections will easily surpass the 276 units of 2008, which was Seaside’s best.  Click HERE to review year-to-date units sold for the Peninsula.

NEWS FLASH!  Just checked the MLS and as of December the 31st, Seaside has sold 299 units!  That's it!  Seaside is having its best year ever!  But so are some of the other Peninsula towns.  So far, the combined total exceeds the totals for 2006, 2007 and 2008!!

Here’s an interesting fact: About 25% of the properties sold so far this year in Seaside were all-cash sales! Why are these all-cash folks buying in Seaside? I bet there are also all-cash sales happening in other Peninsula cities as well.

By the way, Seaside leads the Peninsula cities in total units sold as of 2009.  But in total sales volume year-to-date, Carmel still comes in strong with over 220 million dollars*!  Pebble Beach is in second place with $109.6 million* and in third place, Seaside at $86.9 million*.

With the $8,000 home buyer’s tax credit extension through the new year, 2010 may just be another boom time for the Peninsula.  Looks as if it might be a boom time nationwide too.  Click HERE for an article titled, "Home Sales Surge to Nearly Three Year High". 

Sure wish I had a crystal ball!

* MLS statistics