The market was a bit lethargic this past week leading up to Mother’s Day- only two new sales in the prime parts of Carmel and Pebble Beach. Quail Meadows maintains its torrid pace- already posting the most sales since its inception in the early ‘90’s. Despite lack of inventory, the Highlands has picked up in activity recently, which is good to see. Notable sales from the week below:
Pebble slowed for a third week in a row with zero new sales and just 4 closed escrows- we’ll continue to monitor this potential trend but don’t forecast any major negative trend. The top closed escrow came from the frontlines of MPCC’s Shore course- a Midcentury Modern with NW ocean views that closed at $3.625M (9% off of List Price). The other closed escrows include a slightly updated Ranch-style home in the Country Club East area that closed at $1.25M (11% off of List Price); a dated French-style home also in the Country Club East area that closed at $902K (25% off of List Price) and a teardown in the Upper Forest that closed at $800K (5% off of List Price).
Carmel remains on top of the leaderboard for the 6th week in a row, although there was a considerable amount of slowing from the previous weeks. The top closed escrow is a landmark MJ Murphy cottage on prized Carmelo street, which closed at $3.45M (9% off of List Price)- this one is truly a piece of Carmel’s romantic past. The other closed escrows include a charming Midcentury Modern in the Southern part of the Golden Rectangle that closed at $1.775M (4% off of List Price); a classic 1950’s cottage in the heart of the Golden Rectangle and a tear down in the Hatton Fields area- essentially dirt value in that neck of the woods. Both of the new sales come from the NE area of Carmel and both are major fixers with list prices of $960K and $915K respectively.
As mentioned earlier, there has been a slight uptick in activity in the Highlands market. The lone new sale this week is a recently built Contemporary-style estate on the East side of Highway 1 with distant ocean views and an ask price of $3.495M. Inventory levels for the Highlands are the lowest they’ve been in 2016.
Quail continues to thrive with unrelenting demand for both the Lodge and Meadows area. We are honored to represent both sides of 5461 Quail Meadows Dr, which closed at a great value of $2.7M- a French-style estate with partial valley views and a wonderful master suite. The Canning Properties Group is proud to donate a percentage of the proceeds to the Quail Lodge Scholarship Fund – a good charity for a good cause that supports young students in our local community. Feel free to reach out to us if you have questions about the charity or would to like to make a contribution yourself.
Mike, Jess & Nic
CLOSED ESCROW – Carmelo 2SW of 13th, $3.45M (9% off of List Price), DOM=329
CLOSED ESCROW – 25979 Mission, $1.775M (4% off of List Price), DOM=28
CLOSED ESCROW – Camino Real 2SE of 9th (6% off of List Price), DOM=44
CLOSED ESCROW – 3361 Taylor, $735K (14% off of List Price), DOM= Off-Market
NEW SALE – Guadalupe 3SW of 2nd, $960K, DOM=99
NEW SALE – Camino Del Monte 1SE of Torres, $915K, DOM=367
ACTIVE LISTINGS= (13 in NW Carmel, 24 in NE Carmel, 20 in Golden Rectangle, 6 in SE Carmel, 13 in Carmel Point, 5 in Hatton Fields), 5 Lots
CLOSED ESCROW –
NEW SALE – 204 Upper Walden, $3.495M, DOM=104
ACTIVE LISTINGS= 15 Homes (6 oceanfront), 7 Lots
CLOSED ESCROW – 5461 Quail Meadows Dr, $2.7M
ACTIVE LISTINGS= 8 Homes (4 in Quail Meadows, 4 in Quail Lodge), 2 Lots
CLOSED ESCROW – 1059 Marcheta Ln, $3.625M (9% off of List Price), DOM=132
CLOSED ESCROW – 2830 Raccoon Trl, $1.25M (11% off of List Price), DOM=109
CLOSED ESCROW – 1103 Mariners Way, $902K (25% off of List Price), DOM=510
CLOSED ESCROW – 4114 Sunridge Rd, $800K (5% off of List Price), DOM=129
ACTIVE LISTINGS= 68 Homes(29 in the MPCC area, 31 in Central Pebble, 8 in Upper Forest), 24 Lots
5/6 : An Evening with David Sedaris at Sunset Center
5/6-5/8 : Monterey Comic-Con at Monterey County Fairgrounds
5/7 : Big Bad VooDoo Daddy at Golden State Theatre
5/7 : Derby Day at Pebble Beach Equestrian Center
5/7 : Winemakers’ Celebration at Dolores & 7th
5/9 : Declare you Independence from Clutter – Dinner and Networking at Cibo Restorante Italiano
5/11 : Jewel at Golden State Theatre