Pebble Continues Surge while Carmel Wakes Up

ellen Weekly Blog

Another gorgeous week on the Peninsula and the market continues to reflect the commencement of the selling season.  Pebble saw another surge this week with 6 closed sales and 6 new sales – an indication that demand remains strong and activity is rising.  Carmel, on the other hand, continues to percolate at a leisurely pace with only 1 closed sale and 1 new sale – tight inventory levels remain the biggest constraint in the prime parts of Carmel.

Pebble’s 6 closed sales included a handful of fixers in the MPCC and Country Club West regions prices including $900K, $1.085M and $1.15M (all within 4% of list price); a front line (but northerly facing) Spanish Bay condo with ocean views closed at the list price of $3.595M; an ocean view  contemporary along 17 Mile Drive near Spanish Bay closed at $3.55M (4% off of list price) and a classic but older frontline MPCC home closed at $4.8M (13% off of list price).  The 6 new sales included three condos in the Upper Forest with asks of $569K, $829K and $899K, two fixers in the MPCC and Upper Forest areas with asks of $1.47M and $1.595M, and a frontline 17 Mile Drive classic overlooking Fanshell Beach – we have the honor to represent the owners on this truly iconic property.  There has been a resurgence of activity for the frontline market just below Spyglass with another new listing – a beautiful contemporary at 3129 17 Mile Drive that just hit the market at $7.9M.

Carmel as a whole has seen some increase in activity despite the lack of inventory in the Golden Rectangle and Carmel Point.  The 1 closed sale this week was a modest mid-century modern on Monte Verde 2 NE of 12th which closed at the list price of $1.295M.  The only new sale came from Carmel Point after only 11 days on market – a contemporary  with an ask of $2.495M.

Onto other news: We are very excited to bring a very rare Scenic gem, White Sands, to the market.  One of only 5 properties on the west side of Scenic running street-to-beach, White Sands offers an unparalleled combination of ocean views, privacy and that rarest of amenities – true Carmel beach-front, this inviting home is literally situated on the white sands of Carmel Beach.

Around Town:

7/12 – Everybody Says No with Layne Littlepage at the Carl Cherry Center for the Arts

7/10-7/16 – Live Music at the Carmel Plaza

7/18 – Opening Fireworks and Harmony at The Sunset Center