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Happy Memorial Day Weekend

Updated: Mar 7, 2019

Photo by Andrew Pons on Unsplash

In observance of Memorial Day, Canning Properties Group extends our gratitude toward the bravery of our servicemen and servicewomen. We wish you a happy and safe three-day weekend and hope you have a chance to relax with your loved ones. If you are travelling in our neck of the woods this weekend, you are in luck – the Rio Road work has been put on pause to accommodate holiday related traffic. As always, below please find our update from the preceding week:

Pebble Beach experienced a surge in activity with five new sales and five new escrows, continuing the hot streak in the $1.2-$1.8M range. After over a year on the market, a contemporary/modern/high-tech home in the Estates designed by Conrad Sanchez closed for 14% off list price at $5.3799M. The additional closings in this sub-region included: a contemporary Mediterranean near MPCC on the market for two weeks which sold for $1.85M, a remodeled ranch-style home in Country Club West closing 3.5% off list price at $1.775M, an updated 1970’s-built home with forest views closing for $1.5M, and another ranch-style home near MPCC on the market for just one week (sale price = $1.245M). There were five new sales in Pebble this week, all listed in the $1.3-$1.7M bracket. New sales this week included a re-constructed 1970’s-built traditional home with golf views with an ask of $1.695M, a remodeled ranch-style home on a large corner lot near MPCC listed for $1.6395M, a Country Club East contemporary on the market for 8 months with a sticker price of $1.495M, a dated home in Country Club West (off market listing, list price = $1.395M), and a Post Adobe bungalow with Shore Course Views on the market for just one week at $1.295M.

Carmel maintained the pace this week with three new sales and four closed escrows. Canning Properties Group is honored to represent the top closed escrow in Carmel: a sizeable traditional masterpiece on a lush oversized lot near downtown and the beach at Camino Real 3 SE of 4th (sale price $4.05M; 8% off list price). The three other closings in Carmel included a traditional off-market remodel (selling at full ask price of $2.45M), a custom ocean view home in the Golden Rectangle which went into contract in under a week and closed for $2.4M, and a small beach cottage located a few blocks from Ocean Avenue at $1.165M (less than 3% off list price). New sales in Carmel were as follows: a partially remodeled 1920’s-built ocean view home on Carmelo (DOM = 12, list price = $4.395M), a custom craftsman cottage on a double lot with an ask of $3.995M, and a Mid-Century home on half an acre in Southeast Carmel listed for $1.325M.

Carmel Highlands had one new sale to report this week – after just shy of one year on the market, the custom cabin at 246 Highway 1 cited just south of Point Lobos went into contract with a list price of $3.63M.

Quail had no new sales to report, but the area recorded two closed escrows: a partially updated 1970’s-built home on Valley Greens Circle for $2.06M (off market; 1.5% discount from list price), as well a two-bedroom home with a comfortable floorplan backing the golf course on River Place (3 days on market; closed for $1.881M – 1.5% off asking price). This region continues to experience low days on market and a tight margin between list and sale price.

Pebble Beach
  • CLOSED ESCROW: 3900 Ronda Road, $5.3799M (14% off list price), DOM = 443.

  • CLOSED ESCROW: 3041 Forest Way, $1.85M (2.5% off list price), DOM = 17.

  • CLOSED ESCROW: 1042 Sombrero Road, $1.775M (3.5% off list price), DOM = 18.

  • CLOSED ESCROW: 1114 Sawmill Gulch Road, $1.5M (3% off list price), DOM = 92.

  • CLOSED ESCROW: 2861 Sloat Road, $1.245M (4% off list price), DOM = 9.

  • NEW SALE: 1144 Arroyo Drive, List Price $1.695M, DOM = 110.

  • NEW SALE: 2852 Elk Run Road, List Price $1.6395M, DOM = 109.

  • NEW SALE: 3109 Hermitage Road, List Price $1.495M, DOM = 244.

  • NEW SALE: 1051 Matador Road, List Price $1.395M, DOM = 0 (off market).

  • NEW SALE: 3053 Bird Rock Road, List Price $1.295M, DOM = 6.

  • ACTIVE LISTINGS: 64 Homes (Country Club West = 12, Country Club East = 6, Central Pebble = 23, The Lodge = 12, Upper Forest = 11), 14 Lots.

  • CLOSED ESCROW: Camino Real 3 SE of 4th, $4.05M (8% off list price), DOM = 57.

  • CLOSED ESCROW: 25167 Randall Way, $2.45M (full price), DOM = 0 (off market).

  • CLOSED ESCROW: Lincoln 4 SW of 9th, $2.4M (1.5% off list price).

  • CLOSED ESCROW: Monte Verde 3 SE of 11th, $1.165M (2.5% off list price), DOM = 58.

  • NEW SALE: Carmelo 4 NW of Ocean, List Price $4.395M, DOM = 12.

  • NEW SALE: Torres 3 NW of 8th, $3.995M, DOM = 126.

  • NEW SALE: 3354 7th Avenue, List Price $1.325M, DOM = 49.

  • ACTIVE LISTINGS: 56 Homes (NW Carmel = 8, NE Carmel = 9, SW Carmel = 9, SE Carmel = 11, Carmel Point = 9, Hatton Fields = 10), 4 Lots.

Carmel Highlands
  • NEW SALE: 246 Highway 1, $3.63M, DOM = 355.

  • ACTIVE LISTINGS: 21 Homes (7 Oceanfront), 5 Lots.

Quail Lodge/ Preserve
  • CLOSED ESCROW: 7079 Valley Greens Circle, $2.06M (1.5% off list price), DOM = 0 (off market).

  • CLOSED ESCROW: 8004 River Place, $1.881M (1% off list price), DOM = 3.

  • ACTIVE LISTINGS: Quail Lodge = 1 Home, 0 Lots. Quail Meadows = 3 Homes, 0 Lots. Preserve = 13 Homes, 39 Lots.


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