Pebble Continues Surge while Carmel Wakes Up

ellen Weekly Blog 0 Comments

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

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