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Carmel's Tide Rises

Updated: Mar 7, 2019

Photo by Lance Asper on Unsplash

Coming off a strong week, Carmel’s market maintained momentum – posting another robust week for this time of year. We saw activity across all regions this week as the market continues to move at a steady clip. As always, a few highlights from the week below:

Pebble’s market stalled this week with zero closed escrows and just 3 new sales. The top new sale is a partially updated 90’s contemporary with distant ocean views in the MPCC East area with an ask of $1.695M. The other new sales include a major fixer nearby on Strawberry Hill, offered at $1.288M and an ocean view condo in the Upper Forest, listed at $895K.

As mentioned earlier, Carmel’s market kept strong this week with 4 closed escrows and 5 new sales with prices ranging from $7.3M down to $915K. The top new sale comes from coveted Carmelo in the Golden Rectangle – an oversized Nantucket house on an oversized lot that closed at an impressive $7.375M (8% off of List Price). The other closed escrows included a dated bungalow with a guest unit on Carmelo just North of La Playa Inn that sold for $2.689M (4% off of List Price); a standard 50’s cottage on a thoroughfare in NE Carmel that closed at $1.382M and a teardown also in NE Carmel that sold 2% over the ask price of $895K. The top new sale comes from the SE area of Carmel – a recently remodeled oversized house (2,785 SqFt) on a double lot, offered at $3.788M. The other new sales include a historic cottage just South of Ocean on Camino Real that went back into escrow with an ask of $3M; an updated cottage just around the corner, listed at $2.295M; a teardown in Carmel Point with an ask of $1.495M and a valley view fixer in lower Hatton Fields, listed at $1.399M.

The Quail Lodge area had activity to report this week with a closed escrow at 7072 Valley Greens Cir. After selling for $1.19 in ’14, this slightly updated ranch style home sold for $1.81M (1% off of List Price). Impressed by the volume of sales in Quail given such tight inventory levels as demand continues to outpace supply.

The Highlands also had activity to report with a new sale in the Carmel Meadows area – a dated 90’s bungalow on Cuesta Wy with ocean views and an ask of $4.15M.

Pebble Beach
  • NEW SALE – 3057 Forest Wy, $1.695M, DOM=27

  • NEW SALE – 3058 Strawberry Hill, $1.288M, DOM=137

  • NEW SALE – 84 Ocean Pines Ln, $895K, DOM=63

  • ACTIVE LISTINGS = 63 Homes (Country Club West = 12, Country Club East = 10, Central Pebble = 21, Lodge = 11, Upper Forest = 9) 15 Lots.

  • CLOSED ESCROW – NE Corner of Carmelo, $7.375M (8% off of List Price), DOM=59

  • CLOSED ESCROW – Carmelo 2NE of 8th, $2.689M (4% off of List Price), DOM=50

  • CLOSED ESCROW – Santa Rita 4NE of 2nd, $1.382M (11% off of List Price), DOM=110

  • CLOSED ESCROW – Guadalupe 2NE of 5th, $915K (2% over List Price), DOM=

  • NEW SALE – Santa Rita 6SW of Ocean, $3.788M, DOM=7

  • NEW SALE – Camino Real 3NW of 8th, $3M, DOM=67

  • NEW SALE – 7th Ave 2SW of Casanova, $2.295M, DOM=79

  • NEW SALE – 26233 Camino Real, $1.495M, DOM=20

  • NEW SALE – 3662 Lazarro Dr, $1.399M, DOM=37

  • ACTIVE LISTINGS = 59 Homes (NW Carmel = 10, NE Carmel = 10, SW Carmel = 8, SE Carmel = 11, Carmel Point = 9, Hatton Fields = 11), 4 Lots.

Carmel Highlands
  • NEW SALE – Cuesta Way, $4.15M, DOM=39

  • ACTIVE LISTINGS = 21 Homes (7 Oceanfront), 7 Lots.

Quail Lodge/ Preserve
  • CLOSED ESCROW – 7072 Valley Greens Cir, $1.81M (1% off of List Price), DOM=Off-Market

  • ACTIVE LISTINGS = Homes (Quail Lodge = 2, Quail Meadows = 4, Preserve = 13) 39 Lots (all Preserve).

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