3…2…1…HAPPY NEW YEAR!!

ellen Weekly Blog

2017 is just around the corner and with it comes New Years’ resolutions, goals and reflections of the year we had in ’16. The market continued to strengthen this year, building on the momentum gained in ’14 and ’15. Both market velocity and median sales prices rose again for the 3rd year in a row- both good signals of a healthy market. As always, a few highlights from the week below:

Central Pebble led the way this week with 2 of the 3 closed escrows- both in near proximity to The Lodge. The top closed escrow was a Mediterranean-style spec deal on Ondulado (built in ’07) that closed at $3.5M (12% off of List Price). The other closed escrows included a teardown with ocean views on Palmero Wy that closed at $2.3M (8% off of List Price) and a 80’s ranch-style home in the Country Club East area that sold for $1.324M (2% off of List Price). No new sales to report.

As anticipated, Carmel slowed from the previous week, but was still able to route Pebble to retain the weekly crown for the entire month of December. The top closed escrow came from the quiet Bay View Ave- a 1930’s bungalow with filtered ocean views, ideally located just a block from the beach that sold for $2.48M (1% off of List Price). The other closed escrow was an English-Country cottage in the lesser-known Southeastern Carmel, that closed at $1.673M (6% off of List Price). The top new sale is a custom built, tastefully designed Mediterranean-style home on Santa Lucia Ave (main artery) with an ask of $3.99M. The other new sale is an oversized ranch-style fixer on upper Ocean Ave, that’s listed at $1.495M.

Pebble Beach
CLOSED ESCROW – 3331 Ondulado Rd, $3.5M (12% off of List Price), DOM=219
CLOSED ESCROW – 3168 Palmero Wy, $2.3M (8% off of List Price), DOM=234
CLOSED ESCROW – 1096 Sawmill Gulch, $1.324M (2% off of List Price), DOM= Off-Market

Carmel
CLOSED ESCROW – 2448 Bay View Ave, $2.48M (1% off of List Price), DOM=213
CLOSED ESCROW – Torres 2NW of 11th, $1.673M (6% off of List Price), DOM=141
NEW SALE – 2568 Santa Lucia Ave, $3.99M, DOM=47
NEW SALE – Ocean, 3SE of Forest, $1.495M, DOM=211

Quail
No news to report

Highlands
No news to report

Best,
Mike, Jess & Nic