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A Post-Celebratory Lull

Updated: Mar 7, 2019

Photo by Jeremy Bishop on Unsplash

As residents and tourists alike flocked to the beaches for Independence Day celebrations, the local market put a pause on activity with just 5 closed escrows and 3 new sales collectively across all areas.  Not atypical to have this kind of market behavior with a holiday in the middle of the week.  Blue skies are in the forecast for the weekend and as always, a few highlights from the short week below:

Pebble lead all areas with 4 closed escrows and 1 new sale.  The top closed escrow came from the Spanish Bay condo’s frontlines – a mostly original unit, perched atop a knoll with northwestern ocean views from both levels that closed at $4M (6% off of List Price).  Worth noting that this highly sought after unit was on the market for only 20 days.  The other closed escrows included a ranch style home with ‘good bones’ and potential in the MPCC area that closed at the list price of $1.525M; a major fixer with partial ocean views in the Country Club East area that sold for $1.55M (3% off of List Price) and a teardown on Mestres Dr that traded for $935K.  The lone new sale comes from the Upper Forest – a teardown just north of a major artery (Sunridge Rd) that’s offered at $895K.

The prime parts of Carmel contracted this week as the market recovered from a beautiful and sunny 4th of July – only one closed escrow and 2 new sales this week.  The lone closed escrow was a small (1,330 sqft) 30’s cottage on a busy street in SE Carmel that traded for $1.217M (5% off of List Price) – essentially dirt value.  The top new sale comes from the NW area of Carmel – a cosmetically updated 60’s traditional style home with a guest house and an ask of $1.389M.  The other new sale is a small (930 sqft) 30’s cottage teardown in the heart of the Golden Rectangle on Casanova & 10th, that’s offered at $1.249M.

No news to report in either the Highlands or Quail areas.

Pebble Beach
  • CLOSED ESCROW – 18 Spanish Bay Cir, $4M (6% off of List Price), DOM=20

  • CLOSED ESCROW – 1017 Ocean Rd, $1.575M (Full Price), DOM=2

  • CLOSED ESCROW – 2983 Colton Rd, $1.55M (3% off of List Price), DOM=73

  • CLOSED ESCROW – 1126 Maestros Dr, $935K (4% off of List Price), DOM=3

  • NEW SALE – 4095 Sunset Ln, $895K, DOM=278

  • ACTIVE LISTINGS = 81 Homes (Country Club West=15, Country Club East=10, Central Pebble=33, Lodge=17, Upper Forest=6), 16 Lots

  • CLOSED ESCROW – San Carlos 2NW of 10th, $1.217M (5% off of List Price), DOM=75

  • NEW SALE – Mission 2NW of 2nd, $1.389M, DOM=151

  • NEW SALE – Casanova 3SE of 10th, $1.249M, DOM=3

  • ACTIVE LISTINGS =  95 Homes (NW area=18, NE area=11, Golden Rectangle=26, SE area=12, Carmel Point=14, Hatton Fields=14), 6 Lots

Carmel Highlands
  • No news to report.

  • ACTIVE LISTINGS = 27 Homes (8 oceanfront), 40 Lots

Quail Lodge/ Preserve
  • No news to report.

  • ACTIVE LISTINGS = 18 Homes = (14 in Preserve, 2 in Quail Meadows, 2 in Quail Lodge), 8 Lots


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