Market Slows A Bit

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Looks like our traditional slow-down following the AT&T tournament is taking hold. Just two new sales in Pebble Beach last week and one in the prime parts of Carmel.  Pebble’s sales included a $2.7M older home along 17 Mile Drive near Spanish Bay and a very small fixer  on Lopez near Poppy Hills with an ask of $685 – not much of a house but a value-buy. Pebble did see 4 properties close last week, reflecting the earlier higher activity, ranging from $950K, $1.7M, $1.85M and $3.33M (a transaction we handled on an older home with great ocean views along Padre Lane, one of Pebble’s best locations).

Carmel did see two closed sales last week, continuing to show less activity than Pebble so far this year; the sales included a small fixer on the east side of San Antonio in the Golden Rectangle which closed at $2.05M and a modest rancher down by Mission Ranch which closed at $1.48M.  Anecdotally, despite a somewhat slower pace in Carmel, we’re seeing rising showings, particularly for well-located, quality homes with water views – they’re in very short supply right now.

Looking ahead, we’ll bringing one of the absolute best properties in Carmel to market on the 31st.  Extraordinary property right on the sands of Carmel Beach; nearly an acre, very private, direct access to the Beach and a stroll to town.  www.carmelwaybeachhouse.com.

Around town:

3/21-3/23: Monterey Symphony presents “Insight

3/23: Central Coast Fly Fishing to Teach Fly Fishing Essentials Demonstration at Holman Ranch

3/27: Allegro’s Growers Dinner at Carmel Mission Inn

3/27: Relais & Châteaux GourmetFest at the Sunset Center

Best,

Mike, Lynn & Jess.

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