Monterey Beer Festival


Photo by Dan Gold on Unsplash

We hope you had a happy 4th of July and are rolling into a fun weekend. Saturday, head over to the 18th Annual Monterey Beer Festival at the Fairgrounds for a variety of 80+ brews, tasty local food vendors, and live music in our own backyard. Tickets are $45 in advance or $50 at the door (or $65/$75 for VIP) and the event runs Saturday 7/6 from 12:30-4:00 PM.  Please visit www.montereybeerfestival.com to purchase and have a fun, safe weekend.  Below please find a recap from our local real estate market – we had 6 new sales and 6 closed escrows in our subject regions. Cheers!


Canning Properties Group is honored to represent the sellers and buyers of 56 Spanish Bay Circle, a beloved and meticulously maintained end unit overlooking the golf course which offers convenient proximity to amenities and services at Spanish Bay. This condominium sold for $3.025M, a 5% discount off list price, after 3 months on the market. The 2 new sales in Pebble this week consisted of a dated ranch style fixer opportunity in Country Club East which was on the market for just 2 days (list price: $1.22M) and a renovated 1950’s build in the Upper Forest listed for only 1 week (list price: $9499K).


Of the total activity, Carmel accounted for most of the movement this week reporting 4 closed escrows and 3 new sales. Closings included a traditional new build on a large lot in Hatton Fields (sale price: $2.887M, 8% off most recent list price or 17% off original list price, DOM = 126), a partially remodeled Mid-Century home just north of the Carmel Mission on the market for less than 2 weeks (sale price: $1.67M, 1% discount off list price), a tiny 1 bedroom/1 bathroom teardown in Carmel Point (sale price: $1.23M, 12% off list price, DOM = 35), and a vintage cottage ready for updating in the Golden Rectangle which was on the market for roughly 8 months (sale price: $1.2M, 4% off most recent list price or 14% off original list price). New sales consisted of a recently built home across the street from Sunset Center and less than 2 blocks from town (list price: $3.145M, DOM = 217), a newly remodeled turnkey home in the Golden Rectangle (list price: $2.895M, original: $3.095M), and a charming vintage home in Carmel Point which was only on the market for 4 days (list price: $1.85M).


Quail Meadows and the Preserve rang in activity this week, with 1 closing in the Meadows and 1 new sale in the Preserve: a family compound on over 5 acres in the Meadows sold at $3.75M (12% off most recent list price or 24% off original list price) after 14 months on the market and a Mediterranean near the 13th Fairway in the Preserve went into escrow with a list price of $5.295M (original list price: $5.5M, DOM = 433). 


Pebble Beach
  • CLOSED ESCROW: 56 Spanish Bay Circle, Sale Price: $3.025M (5% off list price), DOM = 105.

  • NEW SALE: 1062 Ortega Road, List Price: $1.22M, DOM = 2.

  • NEW SALE: 4058 El Bosque Drive, List Price: $9499K, DOM = 9.

Carmel
  • CLOSED ESCROW: 26075 Atherton Drive, Sale Price: $2.887M (8% off most recent list price or 17% off original list price), DOM = 126.

  • CLOSED ESCROW: 3017 Lasuen Drive, Sale Price: $1.67M (1% off list price), DOM = 11.

  • CLOSED ESCROW: 2648 15th Avenue, Sale Price: $1.23M (12% off list price), DOM = 35.

  • CLOSED ESCROW: Mission 7 SE of 8th Avenue, Sale Price: $1.2M (4% off most recent list price or 14% off original list price), DOM = 246.

  • NEW SALE: San Carlos 4 SW of 9th Avenue, List Price: $3.145M, DOM = 217.

  • NEW SALE: Lincoln & 11th, SW Corner, List Price: $2.895M (original: $3.095M), DOM = 154.

  • NEW SALE: 26251 Camino Real, List Price: $1.85M, DOM = 4..

Quail / Preserve
  • CLOSED ESCROW: 5452 Quail Meadows Drive, Sale Price: $3.75M (12% off most recent list price or 24% off original list price), DOM = 437.

  • NEW SALE: 2 Long Ridge Trail, List Price: $5.295M (original: $5.5M), DOM = 433.


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