Car Week is in full gear and the best is yet to come this weekend as car enthusiasts from around the world congregate in Carmel/Pebble for all things cars. The local real estate market saw an uptick in activity in the higher price brackets across the markets we cover, which is great to see as the higher price brackets were a bit sluggish of late. The prime parts of Carmel stole the show this week with a rush of closed escrows and new sales above the $2M threshold. As always a few highlights from the week below:
Pebble’s market stalled this week with just two closed escrows and zero new sales. The top closed escrow came from the inner part of Coral Dr – one of MPCC’s frontline streets – a Mediterranean style home with peaks of the ocean and golf course and sale price of $2.7M (11% off of List Price). The other closed escrow, also a Mediterranean style home, came from the Upper Forest area with distant ocean views that closed at $2.668M (8% off of List Price).
Carmel’s market saw a wide range of activity with 3 closed escrows and 4 new sales, ranging from $6.995M down to $795K. The top closed escrow came from San Antonio Ave (main thoroughfare 1 street from beach) – a custom built (’07) cottage with ocean views from the upper level that sold for $3.25M (1% off of List Price). The other closed escrows included a newly constructed cottage just South of town on Dolores that closed at $2.303M (3% off of List Price) and an oversized cottage (2,411 sqft) built in ‘92 in the Southern part of the Golden Rectangle that closed at $2.2M (4% off of List Price). We’re honored to represent the buyers of this week’s top new sale – a 60’s rustic contemporary with expansive ocean views, plenty of potential and an ask price of $6.995M. The other new sales include an oversized house (2,631 sq.ft.) on the coveted Bay View Ave, built in ’03 with ocean views and a list price of $4.65M; another oversized house (2,216 sq.ft.) in the heart of the Golden Rectangle on Dolores with an ask of $3.495M and a teardown on an artery in NE Carmel, listed at $795K.
The Quail/Preserve area had activity to report this with 2 new sales in the Preserve and Meadows. We’re very excited and honored to represent the buyers/sellers of the top new sale – a tastefully designed ranch-contemporary style home with a guest house, studio and barn on 11 acres in the Meadows with an ask of $5.85M The other new sale is a Spanish-Colonial style home built in ’06, near the amenities on Rumsen Trace, listed at $4M. Worth noting that makes two in escrow up the long-dormant Preserve market. We’re collectively excited to see activity picking up in that sub-market.
Pebble Beach
CLOSED ESCROW – 963 Coral Dr, $2.7M (11% off of List Price), DOM=38
CLOSED ESCROW – 4055 Sunridge Rd, $2.668M (8% off of List Price), DOM=349
Carmel
CLOSED ESCROW – San Antonio 3SE of 9th, $3.25M (1% off of List Price), DOM=103
CLOSED ESCROW – Dolores 4SW of 8th, $2.303M (3% off of List Price), DOM=16
CLOSED ESCROW – Monte Verde 3SE of 13th, $2.2M (4% off of List Price), DOM=3
NEW SALE – 26263 Scenic Rd – $6.995M, DOM=157
NEW SALE – SW Corner of Dolores & 11th, $3.495M, DOM=124
NEW SALE – 2360 Bay View, $4.65M, DOM=274
NEW SALE – Carpenter 2SE of 3rd, $795K, DOM=202
Carmel Highlands
No news to report.
Quail Lodge/ Preserve
NEW SALE – 5493 Oak Trl, $5.85M, DOM=185
NEW SALE – 4 Rumsen Trace, $4M, DOM=453