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.
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
CURRENTLY ACTIVE – 5
10/9 – TEDX at the Santa Catalina School
Open This Weekend
Saturday 1:30-3:30: 5445 Quail Way, Carmel
Sunday 1:30-3:30pm: 3937 Ronda Road, Pebble Beach
Mike, Jess & Nic