ESCAPING THE HEAT

ellen Weekly Blog

With one of the hottest weeks in recent memory passing through town, locals and tourists alike flocked to the beaches and pools to escape the heat. The local market picked-up somewhat from the previous week as the prime parts of Carmel leapt ahead to seize the weekly crown. As always, a few highlights worth noting below:

Pebble’s market was more subdued this week with just 1 closed escrow and 3 new sales. The lone closed escrow came from one of Pebble’s thoroughfares (Forest Lodge Road) – an 80’s traditional style fixer that sold for $970K (3% off of List Price). We’re honored to represent the buyers of this week’s top new sale, which comes from the Country Club East area on Mestres Driev A well-maintained 80’s contemporary-ranch style home offered at $1.475M. Other new sales include a midcentury modern home in the heart of the MPCC area on the interior side of Rodeo, listed at $1.45M and a 70’s rustic home in the Upper Forest with an asking price of $895K.

Carmel’s market maintained a healthy pace this week with 3 closed escrows and 5 new sales. The top closed escrow came from the prized Carmelo St, just South of Ocean Ave – a newly built cottage designed by Braden Sterling that closed at $3.85M (1% off of List Price). Other closed escrows included a teardown with great upside in NW Carmel that sold 3% over the asking price of $1.35M and a condo in downtown Carmel that closed at $1.225M (2% off of List Price). The top new sale came from Carmel Point – a custom built, 3-level cottage with filtered ocean views and an ask price of $3.65M. The other new sales include a partially updated ranch style home in NE Carmel, listed at $1.475M; a modestly updated 30’s cottage in NE Carmel, offered at $1.075M and a couple of teardowns on main arteries (Ocean Ave & Carpenter) in Carmel with ask prices of $879K and $875K respectively.

No news to report in the Highlands, Quail and Preserve areas this week.

Pebble Beach
CLOSED ESCROW – 2877 Forest Lodge Rd, $970K (, DOM=36
NEW SALE – 1147 Mestres Dr, $1.475M, DOM=12
NEW SALE – 1041 Rodeo Rd, $1.45M, DOM= Off-Market
NEW SALE – 4117 Pine Meadows Wy, $895K, DOM=27
ACTIVE LISTINGS= 87 Homes (Country Club West=13, Country Club East=18, Central Pebble=30, Lodge=16, Upper Forest=10), 17 Lots

Carmel
CLOSED ESCROW – Carmelo 4SW of Ocean, $3.85M (1% off of List Price), DOM=58
CLOSED ESCROW – Camino Real 2SW of 2nd, $1.39M (3% over List Price), DOM=6
CLOSED ESCROW – SE Corner of Mission & 4th, $1.225M (2% off of List Price), DOM=10
NEW SALE – 26255 Ocean Ave, $3.65M, DOM=17
NEW SALE – NE Corner of Santa Fe & 4th, $1.475M, DOM=20
NEW SALE – Santa Rita 4SW of 3rd, $1.075M, DOM=41
NEW SALE – 3424 Ocean Ave, $879K, DOM=1
NEW SALE – Carpenter 2SE of 1st, $875K, DOM=20
ACTIVE LISTINGS= (NW Carmel=18, NE Carmel=11, Golden Rectangle=19, SE Carmel=9, Carmel Point=14, Hatton Fields=12), 9 Lots

Quail/Preserve
No news to report
ACTIVE LISTINGS= 18 Homes (Preserve=14, Quail Meadows=1, Quail Lodge=3), 43 Lots (Preserve=41, Quail Meadows=2)

Highlands
No news to report
ACTIVE LISTINGS= 30 Homes (9 oceanfront), 8 Lots