Getting Ready For The Big Week

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Well, Car Week is fast upon us and you can already feel the momentum building.  For those who’ve lived here or frequented the area during Concours week you know how that week has grown over the years – it’s become a full-week rolling extravaganza.  In any event, come Monday the 11th the week will be off and running – next week we’ll post a full schedule of activities for the week.

On the real estate front, the prime parts of Carmel remained fairly quiet while Pebble Beach had two nice closed sales and three new ones – continuing it’s steady, healthy pace.  Pebble’s closed sales were both in the Estates part of The Forest, closing at $3.5M and $3.65M – the $3.65M was a charmingly updated home overlooking Cypress Point – it had been on the market for some time and ended up selling at a value; Pebble’s 3 news sales were all under $1.6, extending that pattern of high demand at the bottom of the Pebble market.

Carmel saw one strong closed sale, a quality, ocean view home in the Golden Rectangle which sold in 1 day and closed at $4.95M –inventory remains extremely tight for quality ocean view product in Carmel.  There were zero new sales in the prime parts of Carmel last week, extending that pattern of quiet we’ve seen developing for some time.  As mentioned a number of times, Carmel’s slowing velocity is largely due to the lowest inventory levels any of us have seen in 20 years.

Around town:

  • 8/2: Best of Bach Festival at the Sunset Center
  • 8/7: Annual Miniature Paintings Raffle at the Carmel Art Association
  • 8/8: 2014 Summer Live Music Series featuring The IPOs at the Carmel Plaza

Best,

Mike, Lynn & Jess.

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