GEARING UP FOR CAR WEEK

ellen Weekly Blog

The Monterey Peninsula is warming up for the 68th Annual Concours d’Elegance, entailing an action-packed week filled with events for car enthusiasts. With 3 closed sales in Carmel and 4 in Pebble in addition to 10 new escrows in our subject regions, the market continues to maintain a steady summertime pace. If you’re in the area for Car Week, watch the sun set on Carmel Beach from our Open House on Saturday, 8/18 from 4-7PM at 26317 Scenic Road.

Pebble kept the momentum with four closed escrows and 2 new sales this week. Closings included a single level home with detached guest cottage just off Forest Lodge Road (sale price $1.635M; 2.5% off list price), a dated 2 story home near MPCC selling at 9.4% off list price for $1.2M, a custom 70’s build in the Upper Forest (sale price $1.02M; 2.8% off list price), and a traditional style fixer-upper on the market for just 2 days which sold for $865K (2.3% off list price). The 2 new sales included a remodeled 1970’s-built home in Country Club West listed for $1.515M and a dated family estate on the 8th Fairway of the MPCC Dunes course ($1.165M ask price).

The top closed escrow in Carmel was a tastefully remodeled beach house with clean lines on coveted Scenic Road, which sold for $250K above list price at $7.75M after 11 days on the market. The other 2 closings were a 1950’s era updated Tescher-built home in Carmel Point on the market for 2 weeks (sale price $3.245M; 1.5% off list price) and a vintage remodel opportunity on Highway 1 north of Carmel High School which sold for 4.7% above ask price at $937.5K (DOM = 5). 3 new sales in the region consisted of a partially updated 1930’s-built cottage with filtered ocean views (list price $2.495M; DOM = 12), a rustic modern home in north east Carmel listed for $1.349M, and a cottage near downtown on the market for just 4 days with an ask price of $1.195M.

The Highlands heated up this week with 4 new sales after an otherwise quiet start to the 3rd quarter. These new sales included a 90’s built custom Mediterranean home with elevated ocean views on approximately 1 acre listed for $3.499M, a rustic cabin directly across from Point Lobos State Reserve ($1.595M list price), a remodeled contemporary home with filtered ocean views just off Yankee Point Drive on the market for approximately 8 months ($1.449M list price), and a secluded cottage-style teardown originally built in the 30’s on the East side of Highway 1 with a list price of $895K.

There was no activity to note in Quail or The Preserve this week.

Pebble Beach
CLOSED ESCROW: 2830 Raccoon Trail, Sale Price: $1.635M (2.5% above list price), DOM = 8.
CLOSED ESCROW: 2908 Oak Knoll Road, Sale Price: $1.2M (9.4% off list price), DOM = 93.
CLOSED ESCROW: 4090 Pine Meadows Way, Sale Price: $1.02M (2.8% off list price), DOM = 26.
CLOSED ESCROW: 3044 Larkin Road, Sale Price: $865K (2.3% off list price), DOM = 2.
NEW SALE: 1114 Circle Road, List Price: $1.515M, DOM = 138.
NEW SALE: 1047 Mission Road, List Price: $1.165M, DOM = 66.
ACTIVE LISTINGS: 77 Homes (Country Club West = 14, Country Club East = 11, Central Pebble = 21, Lodge = 17, Upper Forest = 14), 29 Lots.

Carmel
CLOSED ESCROW: Scenic 5 SW of 9th, Sale Price: $7.75M (3.3% above list price), DOM = 11.
CLOSED ESCROW: 2831 14th Avenue, Sale Price: $3.245M (1.5% off list price), DOM = 14.
CLOSED ESCROW: 25068 Hwy 1, Sale Price: $937.5K (4.7% above list price), DOM = 5.
NEW SALE: Carmelo & 12th, NW Corner, List Price: $2.495M, DOM = 12.
NEW SALE: 3083 Lorca Lane, List Price: $1.349M, DOM = 73.
NEW SALE: Junipero 3 SW of 8th, List Price: $1.195M, DOM = 4.
ACTIVE LISTINGS: 59 Homes (NW Carmel = 8, NE Carmel = 11, SW Carmel = 10, SE Carmel = 5, Carmel Point = 12, Hatton Fields = 13), 7 Lots.

Carmel Highlands
NEW SALE: 195 San Remo Road, List Price: $3.499M, DOM = 163.
NEW SALE: 250 Hwy 1, List Price: $1.595M, DOM = 127.
NEW SALE: 122 Carmel Riviera Drive, List Price: $1.449M, DOM = 251.
NEW SALE: 74 Spruce Way, List Price: $895K, DOM = 47.
ACTIVE LISTINGS: 23 Homes (7 Oceanfront), 4 Lots.

Quail/Preserve
No activity to report.
ACTIVE LISTINGS: 20 Homes (Quail Meadows = 3, Quail Lodge = 5, Preserve = 12); 42 Lots (Quail Meadows = 0, Quail Lodge = 2, Preserve = 40).