Pebble Continues to Pop

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The Pebble Beach market continues to run at high rpm’s, with 5 new sales this week and 2 closed sales; that kind of pace will match all records.  The sales continue to be concentrated at the lower/mid-levels (condo at $565K, homes at $999K, $1.095M, $1.799M, $1.844M and $2.995M) but there clearly is anecdotal (showing) interest north of those price points.  The closed sales included a tear down in the upper-Forest at $683K and a nice MPCC non-view home at $2.68M.  Again, Pebble has been steady for months and is virtually certain to end the year strongly by historical standards.

The prime parts of Carmel saw a bit of a bump with one new Golden Rectangle sale on Monte Verde with an ask of $2.295M and one closed Golden Rectangle sale on Casanova with an ask of $2.3M. After being outdone by Carmel Point for months this year, the Golden Rectangle has surged back with the walk-to-water/town demographic driver winning the day of late.  Carmel activity remains constrained due to historically low inventory levels – if one was ever to entertain selling, this would be the time.

Brief note for the aficionados that track our discreet section that we will be bringing to market what many feel is the single-best property on the Pebble Beach golf links and will post info there while readying it for the open market; unparalleled location and historic character, steeped in the Old Pebble charm and character. Stay tuned.

Hope all enjoy the long Labor Day weekend; here’s what’s going on around Town:

08/29 – 2014 Summer Music Series Featuring the IPO’s at The Carmel Plaza

08/30 – 8/31 – Aston Martin MotorSports Festival at Laguna Seca

09/04 – 09/28 – The Servant of Two Masters at the Golden Bough Playhouse

Best,

Mike & Jess

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