The Pebble Beach market enjoyed a robust week, led by the closing of the oceanfront Chappellet Estate after 10 years on the market; we were honored to represent the buyers of that exceptional property – it closed at $16.5M. Pebble also saw two additional closed sales, a 10,000 sq. ft. contemporary in MaComber Estates, which closed at $4.5M after being on the market for two years. The third closed sale was an older, fixer on Bird Rock Road with strong ocean views opposite the MPCC shore course – closed at a pretty good value at $2.5M. Pebble’s been hot lately and that continued this week with 5 new sales ranging from $5.499M, $2.85M, $1.99m, $1.285M and $1.265M. This is solid activity, by any standards.
Carmel had an ok week but continues to lag Pebble velocity this year. Zero closed sales in the prime parts of Carmel but there were 3 new sales. Part of Carmel’s ‘problem’ is its ever-contracting inventory levels, creating some distortion in the activity picture. The 3 new sales included a very polished home on Casanova with an ask of $3.65M, which had been on the market almost 2 years, a newer home on Camino Real down near The Point with and ask of $2.295M and a very small cottage on that stretch of Scenic between 8th and Ocean (it had houses down in front of it – significant view and privacy impact) with an ask of $2.895M. Not a bad week in Carmel.
March 7 and 8: Ailey II Dance Company, Sunset Center
March 8 and 9: Art on The Plaza, Custom House Plaza