Funny week in Pebble and the prime parts of Carmel. Zero closed sales last week but 4 new sales in Pebble and 2 closed sales in Carmel. Haven’t had a blank in closed sales in some time. Don’t sense any emerging pattern with this data but will be keeping an eye on things.
Pebble’s sales included a front line MPCC ocean view fixer on Rodeo that fell out of escrow and just went back in, with an ask of $5.495, a nice ocean view home along 17 Mile Drive near Spanish Bay with an ask of $3.695 and two MPCC homes with asks of $1.075 and $895. Still good forward momentum in Pebble.
Carmel clearly slowing with it’s incredibly tight inventory. One new sale on a fixer at Carmelo and 12th with an ask of $2.295, which had been on the market 250 days and a small, major fixer on Monte Verde with an ask of $1.295. We are forecasting continued slow velocity in Carmel due to the low inventory levels – likely to remain a seller’s market for the foreseeable future.
We also want to thank all our clients who offered thoughts on tweaks to our new web site – genuine thanks all. We’ll continue to make improvements to it and welcome any further thoughts on potential improvements.
We’re getting our feet underneath us at Sotheby’s and the Company has engaged in a major way with marketing outlets for our sellers – lots of positive energy on this front as we continue to build our wider national and international footprint. Thanks to Janet, Brad, Mark and Kristina within Sotheby’s for all of your help.
Thought you might enjoy a look at the team, which was featured in the paper today – but for the old guy in front it’s a great looking team.
Mike, Jess & Nic