The Pebble Beach and prime Carmel markets are off to a strong start in 2014. Pebble Beach saw 4 new sales last week – very strong early year velocity; the new sales ranged from $699K, $1.15M, $1.895M to an incredible value on a 7500 sq. ft. older estate in a reasonably good Estates-area location with an ask of $2.55M. Pebble also saw two closed sales, a fixer in the Estates part of The Forest closed at $1.6M and a fairly nice home in the MPCC area closed at $1.1M. Again, this is solid early year activity.
Carmel was once again blanked in terms of any closed sales which would have been rolling forward from escrows incubated in 2013; however, Carmel Point remained hot once again with two new sales: a large renovated ocean view home on Ocean View went into escrow with an ask of $5.15M and a striking two bedroom ocean view contemporary on Bayview went into escrow quickly with an ask of $3.85M (went into escrow in 36 days on market, during a quiet time of year). We’ve mentioned this many times over the past couple years but it seems clear there’s a continuing demand shift to The Point. Shrinking inventory and strong demand, particularly for water view properties.
1/17-1/19: Big Sur Foragers Festival
1/18: Sunset Center Presents Chef Robert Irvine Live!
Mike, Lynn & Jess.