Before jumping into the market commentary I wanted to mention that we’ve just incorporated some cutting edge search technology into our web site. With the best mappable functionality out there, Real Scout should be a very helpful tool for those on the hunt for a property here.
The Pebble Beach market keeps on chugging, while Carmel appears to be slowing early this season. 4 new sales in Pebble, including our $9.75M property on 17 Mile Drive next to Cypress Point; the others included a fixer on Ronda at $1.799M and two lower priced properties in the upper-Forest with asks of $949K and $649K. Pebble also saw two closed sales, at $1.275M and $670K. Always hard to account for the shift in relative demand between Carmel and Pebble but the tilt of late has clearly favored Pebble.
The prime parts of Carmel saw zero new sales, two weeks in a row, and only one closed sale, a home down on The Point that closed for $2.05M. As mentioned a number of times over the past couple months, we anticipated a slow-down in Carmel as inventory continued to shrink – that does appear to be coming to pass.
The Carmel Film Festival is in town this weekend for film aficionados. Enjoy the weekend.
10/19 – 54th Annual Sand Castle Contest at Carmel Beach Scenic South of 10th
Mike & Jess