Celebrating its 75th anniversary, the Carmel Bach Festival is in town and in the middle of its two-week tribute to all things Bach. In the local real estate world, Carmel’s market roared ahead while Pebble stalled; the Highlands continues to chug along while the Quail area remains silent.
Although a quiet week from a volume perspective, Pebble’s market had some notable sales none-the-less with 2 closed escrows and 1 new sale. The top closed escrow came from the highly sought-after frontlines just below Spyglass Hill’s 3rd-5th holes – a 50’s ranch style home overlooking Fanshell Beach, Cypress Point and beyond that closed at $6M (25% off of List Price). The other closed escrow was a newly remodeled French Country estate, one street back from MPCC’s Shore Course that closed just 2% off of the list price of $2.495M. The lone new sale comes from increasingly popular Padre Lane – an 80’s contemporary style home on the East side that drew 4 offers, listed at $4.195M. Great to see activity in the upper price brackets pick-up in Pebble’s market.
Posting one of the highest weekly totals this year, Carmel’s market revved-up with 5 closed escrows and 8 new sales. Worth noting that all but 1 sale came under the $2.5M marker as the bottom of the market remains hot. The top closed escrow was a 20’s Bungalow style fixer in a great location (Casanova & 8th) that closed at $2.1M (6% off of List Price). The other closed escrows included a recently remodeled and well-maintained cottage in NW Carmel that sold for $2.05M (2% off of List Price); another remodeled 30’s cottage with peaks of the ocean, also in NW Carmel, that closed at $1.95M (7% off of List Price); a dated 40’s bungalow in SE Carmel that traded for $1.275M (4% off of List Price) and a teardown in NE Carmel that sold for the full list price of $975K. The top new sale comes from San Antonio Ave in the Golden Rectangle (thoroughfare one block up from the beach) – a recently built cottage with peaks of the ocean and an ask of $3.295M. The other new sales included a newly built cottage near downtown Carmel, offered at $2.375M; a renovated bungalow in the outskirts of NE Carmel with an ask of $1.575M; an oversized house/lot in Carmel Point, built in the 50’s with good bones and an ask of $1.495M; a cosmetically updated ranch style home in NE Carmel with an ask of $1.425M and a couple of major fixers in the NW and NE areas with list prices of $1.35M, $1.075M and $895K. Impressed by the level of activity at the bottom of Carmel’s market.
The Highlands posted another closed escrow this week as it steadily advances through the summer season. The lone closed escrow came from the East side of Highway 1 on Peter Pan Rd – an 80’s traditional style house with distant ocean views that finally closed at $2M after falling out of escrow multiple times.
CLOSED ESCROW – 1164 Signal Hill, $6M (25% off of List Price), DOM=39
CLOSED ESCROW – 3081 Bird Rock Rd, $2.45M (2% off of List Price), DOM=18
NEW SALE – 1271 Padre Ln, $4.195M, DOM=112
CLOSED ESCROW – Casanova 4SW of 8th, $2.1M (6% off of List Price), DOM=13
CLOSED ESCROW – Monte Verde 2NE of 4th, $2.05M (2% off of List Price), DOM=18
CLOSED ESCROW – Mission 2NW of 1st, $1.95M (7% off of List Price), DOM=70
CLOSED ESCROW – NE Corner of Santa Fe & Mountain View, $1.275M (4% off of List Price), DOM=24
CLOSED ESCROW – 24747 Valley Way, $975K (Full Price), DOM=10
NEW SALE – San Antonio 3SE of 9th, $3.295M, DOM=103
NEW SALE – Dolores 4SE of 8th, $2.375M, DOM=16
NEW SALE – Lobos 3NW of 4th, $1.575M, DOM=147
NEW SALE – 2713 15th Ave, $1.495M, DOM=14
NEW SALE – SE Corner of Torres & 5th, $1.425M, DOM=4
NEW SALE – Camino Real 2SW of 2nd, $1.35M, DOM=6
NEW SALE – Santa Rita 4SW of 3rd, $1.075M, DOM=8
NEW SALE – Lincoln 3NE of 5th, $895K, DOM=8
CLOSED ESCROW – 224 Peter Pan Rd, $2M (1% over List Price), DOM=87
No activity to report in the Quail & Preserve areas