FAREWELL TO “THE KING”

ellen Weekly Blog

This week we pay tribute to a golf legend, Arnold Palmer, who’s infectious passion and energy helped transcend the sport into what it is today. The golfing community, both locally and worldwide, will be forever grateful for his contributions to this wonderful game.

Our local market continues to wind down with another subdued week as we conclude the final days of Q3. Little activity across the board with just a couple of highlights from the week.

Pebble slid below weekly averages for the first time in September with only 2 closed escrows and 2 new sales. The top closed escrow came from the Upper Forest- a contemporary-style home with ocean views just off of 17 Mile Dr that closed at $1.58M (4% off of List Price). The other closed escrow was a Ranch-style fixer in the Country Club East area that closed at $1.3M (13% off of List Price). The top new sale is the ranch-style home on MPCC’s Shore Course’s 18th fairway that recently fell out of and re-entered escrow with the previous list price of $2.35M. Will be interesting to see if that one closes this time around. The other new sale is a recently remodeled ranch-style home on Bird Rock Rd, that also overlooks (not golf-front) the Shore Course’s 18th fairway- listed at $2.15M.

Carmel’s market is also witnessing a slowing as it registers one of the slowest weeks in Q3 with just 5 combined sales (3 closed & 2 new). The top closed escrow came from the NW area- a recently remodeled cottage, aptly labeled “Gunsmoke”, that closed at $2.1M (8% off of List Price). The other closed escrows included an oversized home/lot (also in NW Carmel) that sold 6% off of the list price of $1.695M and a slightly remodeled cottage close to town, that closed at $1.5M (5% off of List Price). The top new sale is a 1940’s ‘Wright-inspired’ Midcentury Modern that’s listed at $1.9M. The other new sale is a teardown on the upper section of Ocean Ave with an ask of $699K.

Quail Lodge’s market remains very active with 1 closed escrow and 1 new sale this week. The lone closed escrow is a ranch-style home with vaulted ceilings along the 7th fairway of Quail that closed at $1.6M (6% off of List Price). The new sale comes from a quiet cul-de-sac on Fairway Pl and is a tastefully remodeled ranch-style home with an ask of $2.35M. That corner has seen a surge in activity over the recent months.

It’s worth mentioning that the first new sale in 19 months in the Preserve occurred this week- a stunning Mediterranean-style home that’s close to that gate with an ask of $5.95M.

No news to report in the Highlands

Around Town:
09/30 – 10/02: Harvest Festival Weekend
1 Old Ranch Road

09/30: Library Wine Tasting
Galante Family Winery
4:00 pm – 6:00 pm

09/30: Tracy Morgan
Golden State Theatre
8:00 pm
$53 – $86

10/01: Annual Butterfly Parade
Downtown Pacific Grove
10:30 am

10/01: Carmel Valley Wine Experience Harvest Festival
1 Old Ranch Rd
1:00 pm – 4:00 pm
$95

10/01: Make a splash at cooking for solutions “The Party”
Monterey Bay Aquarium
7:00 pm – 11:30 pm
$125

10/02 – 10/03: Oktoberfest Monterey Bay
Monterey Fair Grounds
12:00 pm – 10:00 pm
$20

10/06: Taste of Carmel
Carmel Mission Courtyard
6:00 pm – 9:00 pm

Pebble Beach
ACTIVE LISTINGS= 83 Homes (Country Club West=20, Country Club East=14, Central Pebble=27, Lodge=15, Upper Forest=6), 20 Lots
CLOSED ESCROW – 4016 El Bosque, $1.58M (4% off of List Price), DOM=29
CLOSED ESCROW – 2832 Paradise Park Rd, $1.3M (13% off of List Price), DOM=119
NEW SALE – 1072 San Carlos Rd, $2.35M, DOM=45
NEW SALE – 3025 Bird Rock Rd, $2.15M, DOM=58

Carmel
CLOSED ESCROW – Monte Verde 2SW of 4th, $2.1M (8% off of List Price), DOM=34
CLOSED ESCROW – NE Corner of Dolores & 3rd, $1.6M (6% off of List Price), DOM=5
CLOSED ESCROW – Lincoln 4SW of 7th, $1.5M (5% off of List Price), DOM=157
NEW SALE – 26222 Camino Real, $1.9M, DOM=123
NEW SALE – 3504 Ocean Ave, $699K, DOM=451
ACTIVE LISTINGS= 99 Homes (Carmel Woods=8, NW Carmel=17, NE Carmel=15, Golden Rectangle=19, SE Carmel=13, Carmel Point=14, Hatton Fields=14), 5 Lots

Highlands
No news to report in the Highlands
ACTIVE LISTINGS= 31 Homes (24 in Highlands- 10 oceanfront, 7 in Meadows- 1 oceanfront), 9 Lots

Quail
CLOSED ESCROW – 7007 Valley Greens Cir, $1.6M (6% off of List Price), DOM=47
NEW SALE – 7076 Fairway Pl, $2.35M, DOM=7
* NEW SALE – 24 Potrero Trl, $5.95M, DOM=561 (*Santa Lucia Preserve)
ACTIVE LISTINGS= 5 Homes (4 in Quail Meadows, 1 in Quail Lodge), 2 Lots

Best,
Mike, Jess & Nic