The party continued in Pebble Beach last week with 7 new sales, ranging from a small tear down in the upper-Forest with an ask of $510,000 to a great Mediterranean home within walking distance to The Lodge with an ask of $8.295M. Four of the 7 sales were MPCC homes bunched between $850-1.399M, the bracket with the highest concentration of demand in the past 12+ months. By any historical standards, this volume/velocity is robust. While still somewhat slow, the action at the top is clearly picking up. As mentioned last week, we closed a $22.5M ocean front property and this $8.295M new sale is a strong follow up. The new listing we just brought to market at 1559 Sonado has 6 showings scheduled in the next 6 days. All good stuff.
Carmel continued to slow last week with just one closed sale and zero new sales. Too early to call it a trend but worth watching. All bias aside, the best product on the market in Carmel at the moment is the new listing we just brought to market in the Golden Rectangle on Monte Verde, 5SW 12th. We showed it 3 times in the past 2 days, have 2 more showings today, and another scheduled for tomorrow – it is the quintessential Carmel home – Jessica will be holding it open the first time on Sunday between 1:00-4:00.
Around Town this week:
3/15: Sunset Center presents the Rhythm of the Dance. This two-hour dance and music extravaganza celebrates the Emerald Isle.
3/16: Monterey Symphony 2013-2014 Season Premier Open House at the Museum of Monterey
3/19: Local History Lecture Series: “The Post Ranch Family: One of Central California’s First Homesteaders” at 7:00 in the Sunset Center.
3/19: Aubergine Presents: Terroir featuring Japanese Izakaya
3/20: Aubergine Presents: Simple Chocolate Treats Cooking Class
3/20: Andre’s Bouchee Presents: France Meets California Dinner. A six course menu with wine pairings for $145 per person
3/20: Wine Walk-by-the-Sea Crawl Mixer in downtown Carmel
3/21: Secrets of Cantinetta Luca Cooking Class: Pancetta vs. Guanciale
Have a wonderful weekend!
Mike, Lynn & Jess.