PEBBLE BUILDS MOMENTUM AHEAD OF ELECTION

ellen Weekly Blog

For the second week in a row, Pebble Beach’s market seized the weekly crown away from Carmel, surpassing the double digit marker for the first time in the 4th Quarter. It will be interesting to see how the market reacts after next Tuesday’s presidential election. As always, a few highlights from the week below:

Pebble had a very strong week with 5 closed escrows and 5 new sales- lead by both the top and bottom of the market. The top closed escrow is a 90’s ranch-style home on the 18th fairway MPCC’s Shore course’s 18th fairway that closed for $2.2M (6% off of List Price). The other new sales included a remodeled 60’s ranch-style home in the MPCC area that closed at $1.285M (1% off of List Price); a small ranch-style home on an artery in the MPCC area that sold for $955 (1% off of List Price); a major fixer in the Country Club East area that closed for (7% off of List Price) and a partially remodeled home in the Upper Forest that closed at $870K (1% off of List Price). The top new sale comes from the frontline of Pebble’s famed Golf Links- on the 12th hole with expansive ocean and an ask of $19.8M. Worth noting that this would make the third home on Pebble’s golf front to sell this year. The other new sales include a Spanish-Colonial home along MPCC’s Shore course’s 1st fairway with an ask of $1.85M; a remodeled ranch-style home in the heart of the MPCC area that’s listed at $1.795M; a Midcentury Modern home in the Upper Forest that went back into escrow with an ask of $1.289M and a condo, also in the Upper Forest, that’s listed at $560K.

Carmel atypically trailed Pebble for another week with 5 closed escrows and 2 new sales. The top closed escrow came from the quiet and coveted Ridgewood Road, which borders the SE corner of the Golden Rectangle. This deal occurred off-market and sold for $5.25M (5% off of List Price). The other closed escrows included a Contemporary-style home with ocean views in Carmel Point that closed at $2M (17% off of List Price); a newly remodeled ranch-style home in the lower Hatton Fields area that closed at $1.188M (3% off of List Price) and a couple of tear-downs in the NE area of Carmel that closed for $926K (1% over List Price) and $683K (2% off of List Price). The top new sale is a remodeled ranch-style home in the SE part of Carmel and an ask of $2.395M. The other new sale is an 80’s ranch style home in NE Carmel that’s listed at $1.449M. Worth noting that the Golden Rectangle went quiet this week with zero activity.

No news to report in the Quail or Highlands areas

Pebble Beach
CLOSED ESCROW – 1072 San Carlos Rd, $2.2M (6% off of List Price), DOM=45
CLOSED ESCROW – 1072 Indian Village Rd, $1.285M (1% off of List Price), DOM=35
CLOSED ESCROW – 3062 Lopez Rd, $955 (1% off of List Price), DOM=108
CLOSED ESCROW – 2977 Sloat Rd, $860K (7% off of List Price), DOM=128
CLOSED ESCROW – 4143 Crest Rd, $870K (1% off of List Price), DOM=23
NEW SALE – 3410 17 Mile Dr, $19.8M, DOM=210
NEW SALE – 1010 Broncho Rd, $1.85M, DOM=80
NEW SALE – 973 Pioneer Rd, $1.795M, DOM=204
NEW SALE – 4032 Costado Pl, $1.289M, DOM=87
NEW SALE – 37 Shepherds Knoll, $560K, DOM=18
ACTIVE LISTINGS= 76 Homes (Country Club West=20, Country Club East=8, Central Pebble=25, Lodge=15, Upper Forest=8), 21 Lots

Carmel
CLOSED ESCROW – 26026 Ridgewood Rd, $5.25M (5% off of List Price), DOM= Off-Market
CLOSED ESCROW – 2543 14th Ave, $2M (17% off of List Price), DOM=32
CLOSED ESCROW – 3361 Taylor Rd, $1.188M (3% off of List Price), DOM=26
CLOSED ESCROW – 24676 Guadalupe St, $926K (1% over List Price), DOM=191
CLOSED ESCROW – 3504 Ocean Ave, $683K (2% off of List Price), DOM=451
NEW SALE – 2643 Walker Ave, $2.395M, DOM=143
NEW SALE – SE Corner of Guadalupe & 5th Ave, $1.449M, DOM=108
ACTIVE LISTINGS= 95 Homes (Carmel Woods=7, NW Carmel=18, NE Carmel=14, Golden Rectangle=20, SE Carmel=13, Carmel Point=14, Hatton Fields=9), 8 Lots

Quail
No news to report in the Quail area
ACTIVE LISTINGS= 4 Homes (4 in Quail Meadows), 2 Lots

Highlands
No news to report in the Highlands area
ACTIVE LISTINGS= 2 Homes (23 in Highlands- 9 oceanfront, 5 in Meadows- 1 oceanfront), 9 Lots

Around Town

11/4 : Boz Scaggs 
Location: Sunset Center
Time: 8:00 pm
Price: $82-$123

11/5 : Cima Collina Grower Dinner
Location : Cima Collina Hilltop Ranch Vineyard & Barn, 19 E Carmel Valley Rd, Carmel Valley, CA
Time: 6:30 pm
Price : $145

11/5 : The Butterfly Ball
Location: Pacific Grove Museum of Natural History, 165 Forest Ave, Pacific Grove, CA
Time: 6:00 pm – 10:00 pm
Price: $85-$100

11/5 : Trio Solisti Presented by Chamber Music Monterey Bay
Location: Sunset Center
Time: 8:00 pm
Price: $15- $52

11/6 : Party in the Gardens
Location: Carmel’s Barnyard Shopping Village, 3652 The Barnyard, Carmel, CA
Time: 1:00 pm – 4:00 pm
Price: $85

11/8 : Cooking Class : Thanksgiving Crash Course
Location : Aubergine Restaurant, Monte Verde at Seventh
Time : 11:30 am – 2:30 pm
Price: $100 (plus tax and service fee)