With a more subdued week- the local market slowed from its torrent pace leading up to Easter weekend. Not uncommon for activity to slow around holidays. Pebble seized the lead this week with 3 closed escrows and 2 new sales as Carmel stalled with only 1 one of each. A few comments from the week below:
As mentioned, a quiet week in Pebble with a couple noteworthy sales. After being on the market for over 400 days and multiple reductions, a major fixer on the East side of Padre just closed at $4.25M (3% off of List Price). The other closed escrows include an off-market deal on Portola that closed at the full price of $4.25M and a Ranch-style tear down near the 68 gate that closed 3% over the ask price of $747K. The two new sales (both in Upper Pebble) came in under $1M- one a tear down and the other a condo.
Carmel definitely shifted down gears with only 1 closed escrow and 1 new sale. The sole closed escrow came from the outskirts of Northern Carmel- an off-market deal on Cabrillo that closed at $1.998M. The new sale comes from Carmel Point- a two-story Cottage-style home with filtered ocean views and an ask of $3.995M. Perhaps the most quiet week in Carmel-By-The-Sea in 2016.
No news to report in the Highlands
The writing is on the wall- Quail Meadows is red-hot right now. We are thrilled to represent both sides of a beautiful French-Country estate in Quail Meadows- listed at $2.995M. We’ll keep track of this and others in Quail and will report as they progress. Again, great to see Quail is already on pace for a banner year- quite the opposite from recent history.
Hope all are able to enjoy some family time this weekend,
Mike, Jess & Nic
CLOSED ESCROW – 1211 Padre Ln, $4.25M (3% off of List Price), DOM=405
CLOSED ESCROW – 4071 Portola Rd, $4.25M (Full Price), DOM=Off-Market
CLOSED ESCROW – 4071 Crest Rd, $747K (3% over List Price), DOM=46
NEW SALE – 4137 El Bosque Dr, $699K, DOM=35
NEW SALE – 53 Shepherd’s Knoll, $529K, DOM=140
ACTIVE LISTINGS= 63 Homes (24 in MPCC area, 32 in Central Pebble, 7 in Upper Pebble), 24 Lots
CLOSED ESCROW – 24651 Cabrillo St, $1.998M (Full Price), DOM=Off-Market
NEW SALE – 26355 Ocean View Ave, $3.995M, DOM=14
ACTIVE LISTINGS= 73 Homes (11 in NW Carmel, 25 in NE Carmel, 16 in the Golden Rectangle, 6 in SE Carmel, 9 in Carmel Point, 6 in Hatton Fields), 1 Lot
ACTIVE LISTINGS= 10 (4 in Quail Meadows, 6 in Quail Lodge), 1 Lot
NEW SALE – 5461 Quail Meadows Dr, $2.995M, DOM=64
ACTIVE LISTINGS= 18 Homes (5 oceanfront), 5 Lots