The market saw an uptick in activity from last week with 7 closed escrows and 10 new sales, nearly doubling the previous week’s totals. Pebble had a robust week but still trailed the prime parts of Carmel which continue to be the epicenter of the local market.
Following a quiet week, Pebble saw a resurgence with 6 new sales and 2 closed escrows. We are very fortunate to represent the seller of this week’s top sale- a recently remodeled Mediterranean overlooking the 15th fairway at Pebble with an ask of $8.95M. The other new sales included an elegant Mediterranean on Bonifacio with an ask of $7.988M, a tear down on Lisbon that went back into escrow with an ask of $3.295M, a Spanish Colonial in the MPCC area with an ask of $3.295M and a couple of major fixers in Central Pebble with ask prices of $1.595M and $1.275M. Pebble’s 2 closed escrows included a dated home on Portola Rd that closed at $3.85M (10% off of list price) and a tear down on an artery in Country Club West that closed at $1.315M (3% off of list price).
Carmel’s activity this week reflects the tightening of inventory (25 active listings) and developing trend of off-market sales. Carmel saw 3 new sales this week- 2 previously in escrow on Santa Lucia and Monte Verde with asks of $3.195M and $2.69M respectively and a tear down on Monte Verde with an ask of $1.395M. The top closed escrow this week was an off-market listing on Lincoln- a historical Colonial on a double lot that closed at $3.375M (6% off of original list price). The other closed escrows included a beautifully designed Spec-house on 17th that closed at $2.4M (4% off of list price), 2 on the north side of Ocean that closed at $1.5M and $1.4M (6% and 7% off of list prices) and a tear down on Mission that closed at $1.15M (13% off of list price).
The Highlands market continues to tighten as well with only 17 active listings and 7 of those being ocean front properties. We have seen a resurgence in interest for ocean front properties as of late and will continue to monitor the activity down the coast.
Quail continues to be one of the fastest moving areas in our market with another new sale on River Place with an ask of $1.395M after being on the market for 12 days. The only inventory in the area is in Quail Meadows, which is considered by locals as Carmel’s best kept secret. With Quail Lodge’s newly renovated course, it is no wonder that this has become a hot-spot in our community.
CLOSED ESCROW – 1302 Portola Rd, $3.85M (10% off of list price), DOM=557
CLOSED ESCROW – 2856 Sloat Rd, $1.315M (3% off of list price), DOM=313
NEW SALE – 3353 17 Mile Drive, $8.95M, DOM=56
NEW SALE – 1491 Bonifacio Rd, $7.988M, DOM=138
NEW SALE – 1439 Lisbon Ln, $3.295M, DOM=253
NEW SALE – 1059 Matador Rd, $2.395M, DOM=563
NEW SALE – 3164 Cortez Rd, $1.595M, DOM= 48
NEW SALE – 1150 Chaparral Rd, $1.275M, DOM=7
NEW LISTING – 3313 17 Mile Drive, $8.75M- midcentury modern overlooking 1st hole of PB
Prime parts of Carmel
CLOSED ESCROW – Lincoln 4 NW of Santa Lucia, $3.375M (6% off of list price), Off-Market
CLOSED ESCROW – 2479 17th Ave, $2.4M (4% off of list price), DOM=271
CLOSED ESCROW – San Carlos 3 NW of 2nd, $1.5M (6% off of list price), DOM=71
CLOSED ESCROW – Carpenter 2NE of 6th, $1.4M (7% off of list price), DOM=418
CLOSED ESCROW – 25959 Mission St, $1.15M (13% off of list price), DOM=139
NEW SALE – 2848 Santa Lucia, $3.195M, DOM=98
NEW SALE – Corner of Monte Verde & 10th, $2.69M, DOM=11
NEW SALE – Monte Verde, 3 SW of 12th, $1.395M, DOM=121
No news to report
NEW SALE – 8022 River Pl, $1.395M, DOM=12
Mike, Jess & Nic