With some long overdue rain forecasted for this weekend, we’re excited for a stormy break from a recent string of sunny days. Activity continues to pick-up as we transition into our primary selling season. Carmel awoke from a 2 week slumber stealing the show with 6 closed escrows and 4 new sales- a solid week by any standard. Another highlight came from Quail Meadows which has recently ignited with 2 more new sales this week. As always, a few comments on the week below:
Although light on new sales (1) this week, Pebble still had a respectable week with 5 closed escrows- 2 off-market. The top closed escrow was an off-market deal on 17 Mile Drive, just across from the entrance to The Lodge. A vintage Pebble Beach estate with ocean and golf views that closed off-market at the full price of $5.599M. Demand for Spanish Bay condos remains high with an off-market deal closing this week at the full price of $3.595M- won’t be long before the other two pop as well. The other closed escrows include a recently built Traditional-style home on MPCC’s Dunes course that closed at $1.7M (9% off of list price); a recently remodeled Traditional-style home with ocean views on Mora Ln that closed at $1.7M (9% off of list price) and a tear down just inside the 68 gate that closed at the full price of $759K. The sole new sale is an large Contemporary-style home just below Spyglass Hill on 17 Mile Drive with an ask of $6.7M. That area has seen a big uptick in activity over the last year- just one active listing left.
Carmel dons the crown this week with a very robust week as Monte Verde ignites with 4 closed escrows. The top closed escrow is a charming cottage on a corner lot of Monte Verde that closed at $2.55M (2% off of list price). The other closed escrows include a Contemporary-style home on Monte Verde in NW Carmel that closed at the full price of $2.35M; a tear-down on a corner lot near downtown (on Monte Verde) that closed at $1.615M (5% off of list price); and two tear-downs on the outskirts of Carmel that closed at $897K and $750K. The top new sale is a recently built cottage in SE Carmel with an ask of $1.949M- the market still favors cottages in Carmel-By-The-Sea. The other new sales include another recently built cottage in NW Carmel with an ask of $1.795M; a major fixer on Mesa Dr in Hatton Fields with an ask of $1.325M and a dated Ranch-style home on Atherton Dr with an ask of $1.195M. Despite lack of inventory, Carmel rolls along with good velocity throughout.
The Highlands market appears to be calming with another week without activity. After a very robust year in 2015, things have quieted down in the Highlands. We’ll keep an eye on that market but no major concerns yet.
The talk of the town is the recent surge of activity in Quail Meadows. After being dormant for a couple of years, demand for the ‘Meadows has risen substantially recently. We are thrilled to represent both the seller and buyer of a truly one-of-a-kind property at 5493 Oak Trail. A stunning mix of Contemporary and Ranch-styles on 11 acres and an ask of $6.1M. The other new sale in Quail Meadows is a custom built French-style home on one of the best lots with an ask of $5.295M. Quail Lodge stays hot with a tear-down on the 6th hole of Quail go into escrow with an ask of $1.297M.
Cheers to the rain and have a good weekend,
Mike, Jess & Nic
CLOSED ESCROW – SE Corner of Monte Verde & 11th, $2.55M (2% off of list price), DOM=74
CLOSED ESCROW – Monte Verde 3NE of 4th Ave, $2.35M (Full price), DOM=2.35M
CLOSED ESCROW – NW Corner of Monte Verde & 7th, $1.615M (5% off of list price), DOM=14
CLOSED ESCROW – SW Corner of Torres & 9th $1.6M (6% off of list price), DOM=47
CLOSED ESCROW – 3015 Alta Ave, $897K (1% off of list price), DOM=0
CLOSED ESCROW – Monte Verde 3NE of 2nd Ave, $750K (6% off of list price), DOM=78
NEW SALE – Santa Fe 3NE of 8th, $1.949M, DOM=7
NEW SALE – 24759 Dolores St, $1.795M, DOM=332
NEW SALE – 26189 Mesa Dr, $1.325M, DOM=16
NEW SALE – 26133 Atherton Dr, $1.195M, DOM=44
ACTIVE LISTINGS= 55 Homes (11 in Golden Rectangle, 9 in Carmel Point, 8 in NW Carmel, 14 in NE Carmel, 6 in SE Carmel, 7 in Hatton Fields), 3 Lots
CLOSED ESCROW – 3211 Palmero Wy, $5.599M (Full price), DOM= Off-Market
CLOSED ESCROW – 71 Spanish Bay Cir, $3.595M (Full price), DOM= Off-Market
CLOSED ESCROW – 1175 Arroyo Dr, $1.875M (1% off of list price), DOM=7
CLOSED ESCROW – 4030 Mora Lane, $1.7M (9% off of list price), DOM=41
CLOSED ESCROW – 4188 Sunridge Rd, $759K (Full price), DOM=328
NEW SALE – 3129 17 Mile Dr, $6.7M, DOM=235
ACTIVE LISTINGS= (26 in MPCC area, 31 in Central Pebble, 13 in Upper Pebble), 22 Lots
NEW SALE – 5493 Oak Trail, $6.1M, DOM=125
NEW SALE – 5464 Quail Way, $5.295M, DOM=208
NEW SALE – 7017 Valley Greens Cir, $1.297M, DOM=30
ACTIVE LISTINGS= 7 Homes (4 in Quail Meadows, 3 in Quail Lodge), 1 Lot
No news to report in the Highlands
ACTIVE LISTINGS= 17 Homes (5 oceanfront), 3 Lots