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Happy 4th of July!

Updated: Mar 7, 2019

Photo by Jametlene Reskp on Unsplash

Canning Properties Group wishes all a wonderful 4th of July weekend. Along with Independence Day just around the corner, so is the start of the 3rd quarter – our market’s busiest season. For the first time in months, Carmel and Pebble’s markets tied in activity with 4 closed escrows and 6 new sales apiece. Also worth noting with the heat wave hitting the Southwest, we’re seeing a rise in activity down the coast. As always, a few highlights from the week below:

Pebble’s market gained momentum from the previous week with an increase in both closed escrows (+1) and new sales (+2). The top closed escrow was an off-market deal in the heart of the MPCC area on Cormorant – a newly designed Mediterranean style home, just across from the Shore Course’s 1st and 2nd holes that closed at $4.6M. The other closed escrows included a major fixer with good ‘bones’ on Sawmill Gulch overlooking a greenbelt that closed at $1.229M (4% off of List Price); a cosmetically updated traditional style home in the Upper Forest that sold for $1.2M (1% over List Price) and a fixer on a major artery (Lopez Rd) that closed at $1.19M (12% off of List Price). The top new sale comes from the Central Pebble area – a classic 1930’s MJ Murphy Spanish Colonial with filtered ocean views and an ask of $4.6M. The other new sales include a rustic ranch style house on Del Ciervo, with views of Stillwater Cove and an ask of $3.495M; a recently remodeled Mediterranean style home with ocean views on the inner side of Coral Dr that’s listed at $3.05M; a partially updated ranch style home on the Shore Course’s 18th green that’s offered at $1.595M; a ranch style fixer in the quiet Valdez Rd with an ask of $1.295M and a dated 50’s ranch style home in the Country Club East area, that’s listed at $1.1M.

The prime parts of Carmel rebounded with vigor, posting more than double the amount of activity from the previous week. The top closed escrow came from the Eastern Carmel Point area – a tastefully designed cottage on an oversized lot (6,000 sqft) that sold for $2.59M (8% off of List Price). The other closed escrows included a teardown on San Antonio – also in Carmel Point – that sold for $2.25M (6% off of List Price) after previously trading at $2.375M; a tastefully renovated 60’s cottage on Carmelo in the Golden Rectangle that closed at $2.15M (9% off of List Price) and a teardown in NE Carmel that sold for $800K – essentially dirt value. The top new sale comes from the NW area – a renovated (’09) and well-maintained cottage with an ask of $2.095M. The other new sales include a 50’s ranch style home on a triple lot in Hatton Fields, offered at $1.65M; a 70’s traditional style home tucked behind the Forest Theatre with an ask of $1.525M; another traditional style fixer in the NW area, offered at $1.389M; a 40’s ranch-style home with a facelift in the SE area, listed at $1.289M and small (903 sqft) 2 bed/1 bath cottage in the outskirts of NE Carmel, listed at $975K.

The Highlands market remained active this week with 1 closed escrow and 1 new sale – both coming from the East of Highway 1. The closed escrow came from just above the Highlands Inn on Boyd Way – a remodeled 80’s craftsman with ocean views overlooking Wildcat Cove that closed at $2.96M. The new sale is a 80’s contemporary designed by Mackenzie Patterson on Peter Pan Rd with north-facing ocean views and a list price of $2.85M.

Pebble Beach
  • CLOSED ESCROW – 2959 Cormorant Rd, $4.6M, DOM= Off-Market

  • CLOSED ESCROW – 1118 Sawmill Gulch, $1.229M (4% off of List Price), DOM=49

  • CLOSED ESCROW – 4122 Sunridge Rd, $1.2M (1% over List Price), DOM=21

  • CLOSED ESCROW – 3045 Lopez Rd, $1.19M (12% off of List Price), DOM=221

  • NEW SALE – 1446 Riata Rd, $4.4M, DOM= Off-Market

  • NEW SALE – 3194 Del Ciervo Rd, $3.495M, DOM=164

  • NEW SALE – 963 Coral Dr, $3.05M, DOM=15

  • NEW SALE – 3029 Bird Rock Rd, $1.595M, DOM=96

  • NEW SALE – 3036 Valdez Rd, $1.295M, DOM=2

  • NEW SALE – 2883 Oak Knoll Rd, $1.1M, DOM=24

  • ACTIVE LISTINGS= 84 Homes (Country Club West=16, Country Club East=10, Central Pebble=32, Lodge=18, Upper Forest=7), 16 Lots

  • CLOSED ESCROW – 2831 14h Ave, $2.59M (8% off of List Price), DOM=61

  • CLOSED ESCROW – 2489 San Antonio Ave, $2.25M (6% off of List Price), DOM= Off-Market

  • CLOSED ESCROW – Carmelo 4SE of 12th, $2.15M (9% off of List Price), DOM=139

  • CLOSED ESCROW – Guadalupe 2SE of 4th, $800K, DOM=3

  • NEW SALE – Monte Verde 2NE of 4th, $2.095M, DOM=18

  • NEW SALE – 3324 Taylor Rd, $1.65M, DOM=150

  • NEW SALE – Santa Fe 2NE of Mountain View, $1.525M, DOM= Off-Market

  • NEW SALE – Mission 2NW of 2nd, $1.389M, DOM=148

  • NEW SALE – NW Corner of Mission & 11th, $1.289M, DOM=9

  • NEW SALE – 24747 Valley Way, $975K, DOM=10

  • ACTIVE LISTINGS= 90 Homes (Golden Rectangle=24, Carmel Point=13, NW Carmel=17, NE Carmel=11, SE Carmel=12, Hatton Fields=13), 6 Lots

Carmel Highlands
  • CLOSED ESCROW – 139 Boyd Wy, $2.96M (1% off of List Price), DOM=100

  • NEW SALE – 228 Peter Pan Rd, $2.85M, DOM=685

  • ACTIVE LISTINGS= 26 Homes (7 oceanfront), 9 Lots

Quail Lodge/ Preserve
  • No news to report.

  • ACTIVE LISTINGS= 18 Homes (14 in Preserve, 2 in Quail Meadows, 2 in Quail Lodge), 44 Lots


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