So much for any seasonal lull – the Pebble Beach and prime Carmel markets have jumped off to a very strong start to the year. Pebble saw 4 new sales and 3 closed sales, extending if not increasing the near-record pace seen in 2014. The new sales ranged from a classic ocean view Mediterranean we put in in escrow with an ask of $5.75M to a strong MPCC home with an ask of $3.795M to a modest MPCC home at $1.775M and an Ocean Pines condo at $590K; the closed sales included the ocean view Townhome we closed at $3.65M and two MPCC homes at $2.1M and $845K. Good showing throughout the price spectrum, at least into the 5’s.
The prime parts of Carmel didn’t have any deals in the pipeline that closed but did see 4 new sales, including another on red-hot Scenic Road with an ask of $6.695M and three in the Golden Rectangle ranging from $1.695M (a historic fixer that drew 3 offers), an ocean view tear-down with permits with an ask of $1.99M and a high character well located charmer with an ask of $2.895M. All quiet on Carmel Point so far but, as mentioned a number of times, activity on The Point will likely slow this year simply due to the incredibly low inventory levels.
We are expecting to see our traditional surge in inventory as we get closer to the AT&T tournament in early February. In the meantime, the market’s off to a strong start.
Mike, Jess & Nic