MONARCHS ON THE MOVE

ellen Weekly Blog

One of the Pacific Grove’s staple events is upon us tomorrow – the Annual Butterfly Parade – heralding the return of Monarchs to town with a celebratory parade and bazaar (Always a fun time). The local market flip-flopped from the previous week as Pebble stalled while Carmel gained momentum. As always, a few highlights from the week below:

A bit of a shock, but Pebble hosted only 1 closed escrow this week – clearly the slowest week this year. The lone closed escrow came from the Country Club East area on Raccoon Trl – a 60’s Spanish Colonial that closed at $1.175M (13% off of List Price). No major concerns on Pebble’s market as we anticipate it to bounce back from the previous week.

Carmel’s market saw a slight increase in activity this week with 2 closed escrows and 5 new sales. We’re very honored to have the opportunity of representing both the buyers and sellers of this week’s top sale. In the heart of the Golden Rectangle on Casanova & 13th, with tons of opportunity to lies a 12,000 sqft lot that closed at $3.6M (6% off of List Price). The other closed escrow came from the NW area of Carmel – a tastefully remodeled, oversized home (2,890 sqft) on the East side of Monte Verde that closed at $3.4M (3% off of List Price). The top new sale – also from NW Carmel – on the West side of Lincoln is a partially updated (in ’13) English cottage with an ask of $2.9M. The other new sales include a partly updated cottage (1,024 sqft home) in the NE Area of Carmel, offered at $1.425M; a teardown in a great Golden Rectangle location on Lincoln & 11th with an ask of $1.335M; a traditional style home in Central Hatton Fields that went back into escrow at $1.259M and another traditional style fixer in Lower Hatton Fields listed at $1.05M.

The Highlands area had activity to report this week with 2 closed escrows. The top closed escrow came from the quiet Yankee Beach Wy – an updated rustic-contemporary home with ocean views that closed at $2.8M (14% off of List Price). The other closed escrow was a major fixer with expansive ocean views on the West side of Hwy 1 (non-oceanfront inlet) that sold for $2.8M (14% off of List Price).

Pebble Beach
CLOSED ESCROW – 2818 Raccoon Trl, $1.175M (13% off of List Price), DOM=42
Active Listings: 88 Homes (Country Club West: 12, Country Club East: 20) Lots: 19 Lots

Carmel
CLOSED ESCROW – NW Corner of Casanova & 13th, $3.6M (6% off of List Price), DOM=32
CLOSED ESCROW – Monte Verde 4NE of 3rd, $3.4M (3% off of List Price), DOM=50
NEW SALE – Lincoln 3NW of 3rd, $2.9M, DOM=7
NEW SALE – SE Corner of Torres & 5th, $1.425M, DOM=70
NEW SALE – Lincoln 2NW of 11th, $1.335M, DOM=20
NEW SALE – 3530 Oak Pl, $1.259M, DOM=227
NEW SALE – 3583 Oliver Rd, $1.05M, DOM=10
Active Listings: 86 Homes (NW Carmel: 19, NE Carmel: 12, SE Carmel: 11, Golden Rectangle: 18, Carmel Point=15, Hatton Fields: 11) Lots: 8 Lots

Highlands
CLOSED ESCROW – 2 Yankee Beach Wy, $2.8M (14% off of List Price), DOM=169
CLOSED ESCROW – 186 Van Ess Wy, $1.875M (25% off of List Price), DOM=461
Active Listings: 33, Oceanfront Listings: 9, Lots: 5

Quail
No news to report
Active Listings: 11 (Preserve:9, Quail Meadows:1, Quail Lodge:2) Preserve Lots: 35, Quail Meadows Lots: 4