Well, it looks like the AT&T market bump did materialize in Pebble Beach this year: 7 new sales this week and one closed sale. We represented the buyer of the unique contemporary on Padre Lane with an asking price of $4.6M. Two Townhomes at The Lodge sold this week – pretty extraordinary – both had previously been on the market for a long time and in need of renovation, asking prices of $3.25M and $2.195M. The other 4 new sales in Pebble were all under $1.5M, extending that hot streak down at Pebble’s entry level. The lone closed sale was a well-priced home in the MPCC part of The Forest at $1.14M.
The prime parts of Carmel remained steady, with 2 new sales: a dated but large home on Carmel Point in need of complete renovation with an asking price of $2.299M and a smaller cottage on the easterly edge of the Golden Rectangle with an ask of $1.63M. The closed sale was a very interesting older home in a prime walk-to-town/water location – large home (2,700 sq ft) on a large lot (8,000 sq ft) – that sold for $3M. That product – larger home/larger lot also continues to find favor, frequently by those who’ve tried the classic Carmel cottage (+/- 1600 sq ft, on a standard 40×100 lot), love the benefits of in-town living but, would like a little more elbow room in and out. We see a lot of these move-up buyers in Carmel and demand is solid for the limited supply of those properties.
Of course, the story this week is the AT&T Golf Tournament, followed closely behind by the launch of the 4th generation of our website. The weather is forecast to be spectacular this weekend – hope you can head out and enjoy the festivities. Click here for a link to our pairings/schedule sheet for your convenience.
And, we’d love to hear your comments on the new website.
Mike, Lynn & Jessica