The stage is set for blue skies and a beautiful weekend for those attending the TaylorMade tournament at Pebble Beach. This tournament draws a more casual crowd and unlike AT&T, you can enjoy this tournament alongside both celebrities and tour professionals. The local market continued to slow going into Thanksgiving week with a couple of highlights worth noting.
Pebble had a sluggish week with only 3 closed escrows and 1 new sale-down from last weeks combined total of 7. The top closed escrow was a unique estate on the private and coveted Ballantrae Ln that closed at $4.8M (3% off of list price). The other closed escrows included 2 tear downs in the Country Club area that closed at $1.023M (11% off of list price) and $981K (3% over list price). The lone new sale is a ranch style fixer in Upper Pebble with an ask of $1.195M.
Carmel rebounded this week and retained the lead with 4 closed escrows and 5 new sales- tripling last week’s total of 3. The top closed escrow was a cottage with an oversized lot in Carmel Point that closed at $2.675M (5% off of list price). The other closed escrows included a farmhouse in NW Carmel that closed at full price, a cottage also in NW Carmel that closed at (9% off of list price) and a tear down in the Golden Rectangle that closed at $1.175M (1% off of list price). The top new sale is a well-designed Craftsman style home on the corner of Carmelo & 4th with an ask of $3.95M. The other new sales include a remodeled cottage in NW Carmel with an ask of $2.995M, a charming cottage in Carmel Point with an ask of $2.195M, and 2 fixers in NW Carmel with asks of $1.395M and $1.288M. Carmel Point continues to experience a demand-supply imbalance-tilting the needle more towards a sellers’ market.
No news to report in the Highlands
Quail saw some activity this week-further tightening a fast moving market. A French style home on Quail Meadows Dr closed at $3.4M (12% off of list price), bringing the total closed escrows in the Meadows to the annual average of 2. A major fixer on River Pl went into escrow this week with an ask of $1.395M, leaving that area with only 1 active listing.
CLOSED ESCROW – 3209 Ballantrae Ln, $4.8M (3% off of list price), DOM=15
CLOSED ESCROW – 1064 Majella Rd, $1.023M (11% off of list price), DOM=115
CLOSED ESCROW – 1131 Arrowhead Rd, $981K (3% over list price), DOM=4
NEW SALE – 4020 Ronda Rd, $1.195M, DOM=269
Active Listings= 73 Homes (32 in MPCC, 31 in Central Pebble, 10 in Upper Pebble) 25 Lots
Prime Parts of Carmel
CLOSED ESCROW – 26310 Valley View, $2.675M (5% off of list price), DOM=108
CLOSED ESCROW – 24777 Guadalupe St, $1.995M (full price), DOM=14
CLOSED ESCROW – Santa Rita 4 SW of 2nd, $1.55M (9% off of list price), DOM=174
CLOSED ESCROW – Lincoln, 2NW of 11th, $1.175M (1% off of list price), DOM=67
NEW SALE – Carmelo & 4th NW Corner, $3.95M, DOM=123
NEW SALE – Lincoln 3NW of 3rd, $2.995M, DOM=79
NEW SALE – 2497 San Antonio, $2.195M, DOM=1
NEW SALE – Lincoln 3SE of 5th, $1.395M, DOM=67
NEW SALE – Torres 2NE of 4th, $1.288M, DOM=103
Active Listings= 59 Homes, 2 Lots (18 in Golden Rectangle, 7 in Carmel Point, 24 in Northwest Carmel, 10 in Southeast Carmel)
Active Listings = 16 Homes (7 ocean front), 2 Lots
CLOSED ESCROW – 5453 Quail Meadows Dr, $3.4M (12% off of list price), DOM=96
NEW SALE – 8022 River Pl, $1.395M, DOM=1.395M
Active Listings = 6 Homes (5 in Quail Meadows, 1 in Quail Lodge), 1 Lot
Listing Highlight of the Week:
3937 Ronda Rd, Pebble Beach – Sunday, November 22nd – 1:30PM-3:30PM – 4 Bed/4.5 Bath – 5,063 Sq Ft. House on a .5 Acre Lot.
Natural light and wonderful floorplan make this comfortable 4 bed, 4.5 bath home perfect for the family or a golf foursome. Open kitchen and family room lead out to a private backyard, ideal for entertaining or relax by the fire pit discreetly tucked away on the front patio. Views of the ocean from all upstairs bedroom suites provide beautiful water and sunset views. Close to the Lodge and world class golf, this is the ideal Pebble Beach haven.
11/20-11/22 – Monterey Cowboy Poetry & Music Festival and Cowboy Art & Western Marketplace at the Monterey Fairgrounds
11/20-11/23 – PacRep presents Cats the Musical at the Golden Bough Theatre
11/19-11/22 – TaylorMade Pebble Beach Invitational at the Pebble Beach Golf Links
11/21-11/22 – The Monterey Symphony Concert II at the Sunset Center
11/26 – Thanksgiving Dinners throughout Monterey
11/27 – Cannery Row Tree Lighting Ceremony at Cannery Row
Mike, Jess & Nic