PEBBLE BOUNCES BACK

ellen Weekly Blog

With sunny skies in the forecast and plenty of activities around town, the stage is set for a fantastic Labor Day weekend.  The market gained momentum from last week with 6 new sales and 7 closed escrows- more than doubling last week’s sluggish productivity.

Pebble captured the lead with 4 new sales and 4 closed escrows.  The top new sale in Pebble was a modestly remodeled home on 17 Mile Drive without ocean views that went into escrow at $1.95M. The other new sales included a couple of newer homes in the MPCC area with ask prices of $1.849M, $1.649M and $1.349M.  Two of the new sales are on what we consider to be main arteries of Pebble (Sloat Rd & Stevenson Dr) which can limit their value.  The top closed escrow this week was a beautiful custom-built home tucked behind the 4th green of MPCC’s shore course that closed at $2.995M (1% off of list price).  The other closed escrows included a recently built home on Hermitage Rd that closed at $2.05M (7% off of list price) and two condos in the Upper Forest that closed at $750K (10% off of list price) and $630K (3% off of list price).

The prime parts of Carmel saw 2 new sales and 1 closed escrow this week.  Both new sales came from the Southern part of the Golden Rectangle and both on Dolores.  On opposite sides of the building spectrum, one was a tear down with ocean views and an ask of $1.9M and the other, a brand new home without ocean views and an ask of $2.065M.  We are delighted to represent the sellers of a well-designed, classic Carmel cottage on Casanova which closed at $2.895M.  With inventory levels remaining tight, we are seeing a rise in off-market deals like the one on Casanova mentioned above. There is one new listing worth mentioning- a newly built home on Monte Verde & 13th that just listed at $3.495M.

We saw zero new sales and a pair of closed escrows from the Highlands and Quail areas. We are thrilled to represent the seller of a stunning Mediterranean style home on Yankee Point that closed at $6.15M (5% off of list price).  The lone closed escrow in Quail was a tear down on River Place that closed at $1.175M (6% off of list price).  Onto to other news, we are hosting a repeat open house at 5445 Quail Way on Saturday 12th from 1:30-3:30pm for those who were unable to see it during the first open house.  This English Country inspired Quail Meadows home is ideal for a family or a golfer’s retreat with 5 beds and 5 baths and great indoor-outdoor entertaining areas.

Pebble Beach

–  NEW SALE – 2833 17 Mile Dr, $1.95M, DOM=364

–  NEW SALE – 3137 Stevenson Dr, $1.849M, DOM=135

–  NEW SALE – 3039 Valdez Rd, $1.649M, DOM=25

–  NEW SALE – 2856 Sloat Rd, $1.349M, DOM=313

– CLOSED ESCROW – 3105 Hacienda Dr, $2.995M (1% off of list price), DOM=3

– CLOSED ESCROW – 3101 Hermitage Rd, $2.050M (7% off of list price), DOM=163

– CLOSED ESCROW – 37 Ocean Pines Ln, $750K (10% off of list price), DOM=49

– CLOSED ESCROW – 26 Ocean Pines Ln, $630K (3% off of list price), DOM=87

Carmel

– NEW SALE – Dolores 3NE of Santa Lucia, $1.9M, DOM=61

– NEW SALE – Dolores 2SW of 11th, $2.065M, DOM=83

– CLOSED SALE – Casanova 4NW of 9th, $2.895M, Off-Market

Carmel Highlands

– CLOSED ESCROW – 86 Yankee Point Dr, $6.15M (5% off of list price), DOM=133

Quail

– CLOSED ESCROW – 8020 River Pl, $1.175M (6% off of list price), DOM=4

Around Town:

9/4-9/7 – Monterey County Fair at the Monterey Fair Grounds

9/5 – Mirth-O-Matics—Improv Night at Guadalupe & 4th

9/5 – Carmel Art Association’s Opening Night at the Carmel Art Association

9/9 – The Alzheimer’s Association presents: Healthy Habits for a Healthy You at the Alzheimer’s Association 

9/9 – TPO’s Leadership Excellence Series at TPO’s Professional Development Center

Best,

Mike, Jess & Nic