Carmel edged Pebble by a slight margin to retain the weekly crown this week. Overall, the market continues to churn at a modest pace across the board- highlighted by a couple of noteworthy sales in the areas we cover. As always, a few comments from the week below:
Pebble rebounded from the slowest week in ’16 with 2 closed escrows and 3 new sales- back to its seasonally adjusted average. The big storyline this week was the top closed escrow, which came from the famed Pebble Beach Golf Links. A traditional, Eastcoast-style home, ideally located behind the 12th green at Pebble closed at $18.5M after being on the market for a staggering 1,280 days on market. The other closed escrow came from MPCC’s frontlines- a Mills’ Mid Century-Modern fixer with expansive Westerly ocean views that closed at $3.379M (7% off of List Price). The top new sale is a single story Contemporary-ranch style home in Central Pebble with filtered ocean views and an ask of $2.495M. The other new sales include a remodeled ranch-style home on a main artery in the Country Club East area that’s listed at $1.375M and another remodel, also on a thoroughfare (in CCW area), with an ask of $1.259M.
Carmel’s market decelerated slightly from the previous week with 2 closed escrows and 4 new sales. The top closed escrow came from the NW area of Carmel- an extensively remodeled Mediterranean-style home with filtered ocean views that sold for $3.4M (7% off of List Price). We’re proud and honored to represent the sellers of the other closed escrow- a charming bi-level bungalow fixer in Carmel Point that sold for $2.35M (5% off of List Price). The top new sale is a remodeled cottage on the West side of Camino Real in the heart of the Golden Rectangle, listed at $2.895M. The other new sales include a 90’s Country-English Cottage on a quiet section in SE Carmel with an ask of $1.789M; a 20’s cottage teardown with filtered ocean views on an oversized lot on Casanova in NW Carmel that’s listed at $1.45M and a major fixer in the outskirts of NE Carmel with an ask of $1.15M.
Great to report that the Highlands saw activity for the third week in a row. The lone new sale is perched above Highway 1 on quiet Mentone Road with distant ocean views and an ask of $1.5M.
A couple of notable highlights to report in the Quail area this week. First off, the high-water mark for Quail Lodge has officially been crested with the closing of 7075 Fairway Place, which sold for a staggering $2.8M ($105K over List Price). This home is a tastefully remodeled ranch-style home overlooking Quail’s 3rd fairway. The other noteworthy sale this week comes from the Preserve. After falling out of escrow in recent months, 24 Potrero Trail went back into escrow at $5.95M. We’re keeping our fingers crossed that this one closes at it will be the first home sale in the Preserve in over 20 months. Truly hoping that this will be the catalyst for more to come for the Preserve market in 2017.
All the best,
Mike, Jess & Nic
CLOSED ESCROW – 3044 Cormorant Road, $3,379,437 (7% off List Price), DOM = 349
NEW SALE – 1536 Viscaino Road, $2.495M, DOM = 30
NEW SALE – 2870 Congress Road, $1.375M, DOM = 14
NEW SALE – 2912 Oak Knoll Road, $1.259M, DOM = 91
NEW SALE – 3168 Palmero Way, $2.499M, DOM = 234
CLOSED ESCROW – Lopez 2NW of 4th Ave., $3.4M (7% off of List Price), DOM = 91
CLOSED ESCROW – 2436 Bay View Ave, $2.35M (5% off of List Price), DOM = 43
NEW SALE – 3NE Casanova & Ocean, $1.45M, DOM = 3
NEW SALE – SW Corner 1st & Santa Fe St., DOM = 1.150M
NEW SALE – Torres 2NW of 11th, $1.789M, DOM = 141
NEW SALE – 10th 2NW of Camino Real, $2.895M, DOM = 42
NEW SALE – 31 Mentone Road, $1.5M, DOM = 22
CLOSED ESCROW – 7075 Fairway Place, $2.8M (4% over List Price), DOM = 33
12/9-12/18: Sister Act – A Divine Musical Comedy
Golden Bough Theatre
12/9 -1/1 : Ice Skating by the Bay
Custom House Plaza, 4 Custom House Plaza, Monterey
Mon-Sat 11:00 am-10:00 pm, Sun 12:00 pm – 8:00 pm
12/10: Santa’s Fly-In
Carmel Valley Airfield
10:30 am – noon
12/15: Jonny Lang
Golden State Theatre