The Pebble Beach market continued to outperform the prime parts of Carmel last week with 5 new sales and 3 closed sales, while the prime parts of Carmel were blanked, with no new or closed sales. While we’ve commented that Carmel is experiencing slowing due largely to historically low inventory levels we’re keeping an eye out for further emerging patterns and trends.
All but one of the new sales in Pebble were under $1.39M, extending the same pattern seen throughout 2014; the 5th sale was a fantastic 3 acre ocean view tear down on Del Ciervo with and ask of $7.95M (worth noting that this property closed in 2000 at $10M. Pebble’s 3 closed sales ranged from a nice home on Spyglass at $3.4M, and two MPCC area homes at $1.5M and $995K. Healthy activity in Pebble once again.
We’ll have our regular full quarterly market recap out next week – if you’d like to receive that directly just route along your email address and we’ll be happy to do so.
Hope all are enjoying the spring holiday – here’s what’s going on around town:
Mike, Jess & Nic