MARKET REBOUNDS AHEAD OF AT&T PRO-AM

ellen Weekly Blog

After a lethargic finish to January (3 closed escrows/1 new sale collectively), the market saw a notable uptick in activity across the board to start February off on a high note.  With AT&T week just around the corner, the town is gearing up – always fun to see the energy around town rise ahead of these events.  As always, a few highlights from the week below:

Coming off the slowest week in a year, Pebble rebounded back to its seasonally adjusted averages with 2 closed escrows and 4 new sales.  We’re honored to have represented both the buyers and sellers of the top closed escrow this week.  ‘Stone Hollow’, as it’s aptly named, combines the storied past of Pebble with the comfort of today’s lifestyle.  The other closed escrows included a newly remodeled single-story home in the Country Club East area that closed at the list price of $1.375M and a renovated ranch-style home on a main artery in Country Club West that sold for $1.23M (2% off of List Price).  The top new sale comes from Riata Rd, a MJ Murphy built Mediterranean-style home that just went back into escrow with an ask of $4.85M.  The other new sales include a newly renovated Contemporary-style home in the Upper Forest, offered at $1.395M; a dated 50’s ranch-style home in the Country Club East area with an ask of $1.175M and a partially updated ranch-style home on an artery, just North of Spyglass Hill, listed at $925K.

Carmel’s market had a strong week, posting 5 closed escrows and 4 new sales.  The top closed escrow came from the famed frontlines of Scenic Rd – an oversized home and lot with unobstructed ocean views that closed at $9M.  The other closed escrows included an off-market sale of an oversized home and lot on Camino Real in the Golden Rectangle that closed at $3.495M; a remodeled 50’s ranch-style home with ocean views on the coveted Hatton Rd that sold for $2.75M and a partially updated cottage just South of Ocean Ave on Casanova that closed at $2.725M (9% off of List Price).  The top new sale comes from the NE area of Carmel – a newly updated Cape Cod style home that’s listed at $1.895M.  The other new sales include a partially updated 40’s cottage just North of Ocean in NW Carmel with an ask of $1.895M; a teardown on an oversized lot in the Southern part of the Golden Rectangle, offered at $1.595M and a partially remodeled duplex near downtown Carmel that’s listed at $1.35M.

The Highlands saw activity this week with 1 closed escrow and 1 new sale.  The lone closed escrow came from the frontlines in the Carmel Meadows area – a stunning Midcentury-Modern home with sweeping ocean views that closed just 1% off of the list price of $5.299M.  The new sale comes from the East side of Highway 1 – an 80’s Contemporary-style home with distant ocean views and an ask of $1.998M.

The Quail area also had activity to report this week with the first closed escrow in the Preserve in nearly 2 years – A custom built Spanish-Colonial style home nestled amongst redwoods and just behind the gates that sold for $5.6M (6% off of List Price). 

Best,

Mike, Jess & Nic

 

Pebble Beach
CLOSED ESCROW – 1456 Riata Rd, $4.85M (16% off of List Price), DOM=241
CLOSED ESCROW- 2870 Congress Rd, $1.375M (Full Price), DOM=14
CLOSED ESCROW- 2912 Oak Knoll, $1.23M (2% off of List Price), DOM=91
NEW SALE – 1553 Riata Rd, $4.8M, DOM=333
NEW SALE – 4091 Crest Rd, $1.395M, DOM=98
NEW SALE – 1110 Mestres Dr, $1.175M, DOM=15
NEW SALE – 3112 Sloat Rd, $925K, DOM=190
ACTIVE LISTINGS= 67 Homes (Country Club West=14, Country Club East=8, Central Pebble=22, Lodge=18, Upper Forest=5), 16 Lots

Carmel
CLOSED ESCROW- 2446 17th Ave, $9M (8% off of List Price), DOM=152
CLOSED ESCROW- SE Corner of Camino Real & 13th, $3.495M (Full Price), DOM= Off-Market
CLOSED ESCROW- 25840 Hatton Rd, $2.75M (5% off of List Price), DOM=184
CLOSED ESCROW- Casanova 2NE of 7th, $2.725M (9% off of List Price), DOM=75
CLOSED ESCROW- Acacia Wy, $965K (3% off of List Price), DOM=182
NEW SALE – 3055 Lorca Ln, $1.895M, DOM=219
NEW SALE – NW Corner of Dolores & 4th, $1.785M, DOM=79
NEW SALE – Lincoln 3NW of Santa Lucia, $1.595M, DOM=72
NEW SALE – Mission 4SW of 7th, $1.35M, DOM=10
ACTIVE LISTINGS= 76 Homes (Carmel Woods=3, NW Carmel=17, NE Carmel=10, Golden Rectangle=16, SE Carmel=11, Carmel Point=11, Hatton Fields=8), 4 Lots

Highlands
CLOSED ESCROW- 2932 Cuesta Wy, $5.24M (1% off of List Price), DOM=160
NEW SALE – 224 Peter Pan Rd, $1.998M, DOM=87
ACTIVE LISTINGS= 25 Homes (24 in Highlands- 7 oceanfront, 4 in Meadows), 8 Lots

Quail
CLOSED ESCROW- 24 Potrero Trl, $5.6M (6% off of List Price), DOM=612
ACTIVE LISTINGS= 2 Homes (2 in Quail Meadows), 2 Lots

Around Town: 

2/4: Live Music feat Mark Bank
Folktale Winery
4:30 pm-7:30 pm
Free
https://folktalewinery.com/calendar/

2/5: Super Bowl Crawl
Galante Vineyards
3:00 pm
Free admission
http://www.galantevineyards.com/ 

2/5: Second Annual Pigskin Palooza
Peter B’s Brewpub
2:00 pm – 11:00 pm
$60
https://www.portolahotel.com/peter-bs-brewpub#menus-special-events-section
 

2/6- 2/12: AT&T Pebble Beach Pro-Am
Pebble Beach
All day
$60- $8,000

http://www.attpbgolf.com/ 

2/8: The Summit – The Manhattan Transfer and Take 6 (  )
Sunset Center
8:00 pm
$49-$69
http://www.sunsetcenter.org/e-the_summit_the_manhattan_transfer_meets_take_6_313.htm