PEBBLE SURGES WHILE CARMEL QUIETS DOWN

ellen Weekly Blog

After a robust week last week, Carmel slowed back down with only 1 closed sale while Pebble popped with 3 new sales and 5 closed sales.  Most of Pebble’s activity remains below the 2M ticker extending that concentrated trend from previous weeks.  The lack of inventory in Carmel continues to be the prevailing factor in its slower sales velocity – a trend we’ll keep a close eye on in the upcoming weeks.

Pebble saw an uptick in activity with 3 new sales and 5 closed sales last week – no sign of lull in Pebble.  Most of the action occurred in the upper forest and MPCC areas with all but one sale coming from those areas.  The 5 closed sales ranged from $785K, two at $1.15M, $1.89M and $5.325M.  Worth noting that the $5.325M was a frontline midcentury modern on the corner just below Spyglass Hill (14% off of list price).  Pebble’s new sales included two fixers in the MPCC area with ask prices of $1.35 and $1.4M and a beautiful frontline colonial overlooking the 6th green of MPCC’s Shore course with an ask of $5.495M – we are delighted and honored to represent the buyers of this exceptional property.  In other news, a new listing that just came to market and worth mentioning – a tastefully done contemporary near Spanish bay with an ask of $3.695M.

As mentioned earlier, Carmel’s sales velocity continues to be constrained by historically low inventory levels – a trend we’re tracking closely.  It’s only closed sale came from right across from the Sunset Center which closed at $1.22M (9% off of list price).  With the market shifting in favor of seller’s and inventory levels remaining low, this should be a  great opportunity for those considering a sale to bring their home to market – we’re happy to provide an estimate of value for any so inclined.

Upcoming Open House Schedule:

Where: Carmelo 3NW of 8th – Sophisticated ocean view home just two blocks to Carmel beach and 2 blocks to Ocean Ave – this move-in ready home is your window into become truly “Carmelized”.

When: Sunday, May 3rd from 10:30-12:30pm  —  Property Website

Where: 4051 Mora Lane – Just reduced to $2.695M – this is a great opportunity if you are looking for a newly built Mediterranean conveniently located in Upper Pebble.  A great family home just up the hill from the Stevenson High School.

When: Sunday, May 3rd from 1:30-3:30pm  —  Property Website

About Town:

5/2 – Art in Bloom Gala hosted by Monterey Museum of Art at MPCC.

5/2 – Monterey County Vintners & Growers Association 23rd Annual Winemakers Celebration on Dolores St.

5/3 – 24th Annual Garden Party held at The Carmel Youth Center.

5/4 – “Roaring Twenties” Fashion Show and Lunch at The Carmel Woman’s Club.

Best,

Mike, Jess & Nic