A Steady Week

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The week after the AT&T tournament was a steady one in the prime Carmel and the Pebble Beach markets. Pebble Beach saw 2 new sales and 4 closed sales – market neither slowing or accelerating – healthy, balanced tempo, which is in line with our broader forecast for the year. The 4 closed sales ranged from $880,000, $1.165M, $1.185M, $2.5M. Demand continues strongest at the bottom of the market; we are keeping an eye on that sector for any significant impact due to the new lending rules which were just implemented. The 2 new sales included an ocean view fixer along Padre Lane (one of Pebble’s most-favored locations) we sold with an ask of $3.95M and an older but well-located home along Riata Road with an ask of $2.595M. Pebble is off to a solid start in 2014.

Carmel woke up this week with 2 new and 2 closed sales. New sales included a fixer-cottage in the Golden Rectangle with an ask of $1.47M and a home down by the Mission Ranch with an ask of $2.15M. Closed sales included a larger home (3,000 sq ft)  on The Point that closed at $3.575M and a classic Carmel cottage in the Rectangle that closed at $2.395M. After going to sleep last week, nice to see resume what had been a fairly steady pace this year.

As mentioned, we’ll be rolling out the revamped website in a week or so. Check out the new calendar for an up-to-date and comprehensive schedule of the year’s activities. The new rental inventory for those wanting to test-drive will also be up shortly.

Finally, check out the Discreet section for a new property we’ll be bringing to the open market later this summer. A sophisticated and polished 4 bedroom beach house on The Point, with great Carmel Bay views. Great property.

About town this week:

2/6-4/28: Bob Kolbrener Celebrates Fifty Years in Photography at the Monterey Museum of Art

2/14-2/16: John Lennon’s “All We Need is Love” art exhibition at the Carmel Plaza

2/14-2/23: Jesus Christ SuperStar at the Golden Bough Theatre

2/20: 3rd Annual Tequila Dinner at the Rio Grill

Best,

Mike, Lynn & Jess.