4th QUARTER COMMENCES WITH A BANG

ellen Weekly Blog

As we enter the final quarter of 2015, the local market kicked off with a bang bringing in 10 closed escrows and 9 new sales this week- eclipsing last week’s totals of 7 and 10 respectively.  Although a surprising start to Q4, it is too early to tell if this trend will continue through the remainder of the year.  The top of the market remains active with 2 front line sales, one on Scenic and the other on Pebble’s ocean front. Sunny skies and warm days lie ahead lending beautiful days for those beach or course bound.

Pebble’s market had a robust week with 7 closed escrows and 2 new sales this week.  The top closed escrow was one of Pebble’s rare ocean front properties(1 of only 28 properties)- a ranch style home with a guest cottage that closed off-market at $18M (19% off of list price).  The other closed escrows included a Cypress Point golf front home that closed at $7.3M (27% off of list price); 2 ocean view fixers in the Lodge Area that closed at $3.83M (9% off of list price) and $3.35M (full price); 2 tear downs in Central Pebble that closed at $2.94M (11% off of list price) and $1.75M (7% off of list price) and a tear down on a major artery that closed at $854K (1% off of list price).  The new sales included a tear down in the Country Club Area with an ask of $880K and a condo with an ask of $400K.

The prime parts of Carmel saw 3 closed escrows and 5 new sales this week.  The top closed escrow was a triple lot teardown on Scenic that closed at $6.9M (12% off of list price)- prolonging Scenic’s hot streak.  The other closed escrows included an ocean view fixer on Santa Lucia that closed at $2.7M (15% off of list price) and slightly remodeled home on Dolores that closed at $1.875M (1% off of list price).  The top new sale was a partially remodeled 1926 home on San Antonio with an ask of $3.335M. The other new sales included an ocean view cottage in Carmel Point with an ask of $2.398M, 2 charming cottages with asks of $1.699M and $1.495M and a fixer on the quiet Hatton Rd with an ask of $1.599M.  This activity speaks volumes given the historically tight inventory levels in the prime parts of Carmel.

The Highlands continue to benefit from a surge in interest with 2 new sales this week.  We are honored to put 30890 Aurora Del Mar back into escrow, which is one of Otter Cove’s prized lots.  The other new sale is a charming cottage perched above Yankee Point with an ask of $1.423M.

Little to report in Quail other than there are only 5 active listings- 4 in Quail Meadows and 1 in Quail Lodge.  With such high velocity recently in Quail Lodge, the needle continues to tilt towards a sellers’ market.  For those interested in receiving a comparable market analysis for your home, feel free to visit the sellers tab on our website. 

Pebble

CLOSED ESCROW – 3168 17 Mile Drive, $18M, (19% off of list price), Off-Market

CLOSED ESCROW – 1159 Sombria Ln, $7.3M (27% off of list price), DOM= 139

CLOSED ESCROW – 3196 Palmero Wy, $3.83M (9% off of list price), DOM=80

CLOSED ESCROW – 1264 Padre Ln, $3.35M (full price), DOM=4

CLOSED ESCROW – 1439 Lisbon Ln, $2.94M (11% off of list price), DOM=253

CLOSED ESCROW – 4167 Sunset Ln, $1.75M (7% off of list price), DOM=22

CLOSED ESCROW – 2803 Forest Lodge Rd, $854K (1% off of list price), DOM=180

NEW SALE – 3108 Stevenson Dr, $880K, DOM=3

NEW SALE – 54 Shepherds Knoll, $400K, DOM=179

CURRENTLY ACTIVE – 73

 

Prime parts of Carmel – 3 closed escrows, 5 new sales

CLOSED ESCROW – 26264 Ocean View Ave, $6.9M (12% off of list price), DOM=191

CLOSED ESCROW – 2848 Santa Lucia Ave, $2.7M (15% off of list price), DOM=98

CLOSED ESCROW – Dolores 2 NW of 11th, $1.875M (1% off of list price), DOM=193

 

NEW SALE – San Antonio & 10 NE Corner, $3.335M, DOM=254

NEW SALE – 26404 Inspiration, $2.398M, DOM=10

NEW SALE – Santa Rita 4 SW of 2nd, $1.699M, DOM=174

NEW SALE – 25109 Hatton Rd, $1.599M, DOM=66

NEW SALE – Santa Fe 4 SW of Ocean, $1.495M, DOM=8

CURRENTLY ACTIVE – 45

Highlands – 2 new sales

NEW SALE – 30890 Aurora Del Mar, $5.495M, DOM=298

NEW SALE – 32680 Coast Ridge Dr, $1.423M, DOM=65

CURRENTLY ACTIVE – 14

Quail

CURRENTLY ACTIVE – 5

Around Town:

10/9 – TEDX at the Santa Catalina School

10/10 – Cypress String Quartet + Friends at The Sunset Center

10/10 – Opening Reception for October “All-Member Abstract Show” at The Carmel Art Association

10/12 – Portugal and its Islands Travel Presentation by Collete Vacations at the Church of the Wayfarer

10/16 – MOMIX: Alchemia at The Sunset Center

10/9-10/11 – Big Sur Jade Festival at the Pacific Valley School

Open This Weekend

Saturday 1:30-3:30: 5445 Quail Way, Carmel

Sunday 1:30-3:30pm: 3937 Ronda Road, Pebble Beach

Best,

Mike, Jess & Nic