PEBBLE’S MARKET HEATS UP

ellen Weekly Blog

After a lackluster performance across the board the previous week, Pebble’s market leapt forward in activity while Carmel remained sluggish. Sunny skies ahead for the weekend and as always, a few highlights from the week below:

As mentioned, Pebble’s market had a robust performance this week with 6 closed escrows and 3 new sales – highlighted by the first sale north of $10M since December of last year. The top closed escrow came from the Lodge area – a tastefully designed Mediterranean style home with filtered ocean views that sold off-market at $10.5M. The other closed escrows included a 90’s Mediterranean style home near Cypress Point that closed at $5.475M (21% off of List Price); a dated 50’s traditional style home with expansive ocean views on prized Bonifacio Rd that closed at $4M (8% off of List Price); two interior Spanish Bay condos (units 78 & 79) with ocean views that each closed at $3.15M (2% and 10% off of respective List Prices) and an 80’s traditional style home in the Central Pebble area that closed off-market for $2.15M. The top new sale comes from the Central Pebble area – an 80’s ranch/contemporary style home in Central Pebble with an ask of $2.195M. The other new sales – both from the Upper Forest – include a rustic contemporary on Sunset Ln with an ask of $1.175M and a condo that’s offered at $685K.

For the second week in a row, the prime parts of Carmel stalled – matching the previous weeks’ totals of 2 closed escrows and 3 new sales. The top closed escrow came from the East side of Bay View Ave – a three story Mediterranean style home (built in ’03) with North facing ocean views that closed at $4.6M (1% off of List Price). The other closed escrow was a condo near downtown that sold for $860K (4% off of List Price). We’re honored and excited to represent the buyers on the top new sale this week. A tastefully remodeled and designed cottage in the heart of the Golden Rectangle on Casanova, with a list price of $4.3M. The other new sales include a ranch style fixer in lower Hatton Fields, listed at $1.349M and a teardown on Ocean Ave that just went back into escrow with a list price of $899K.

The Quail/Preserve areas had activity to report this week with 1 closed escrow and 1 new sale – both in the Quail Lodge area. The closed escrow was a custom oversized single level home on Valley Greens Dr (built in ’04) that closed at $2.3M (8% off of List Price). The new sale is a tastefully remodeled Craftsman-ranch style home with west-facing views on Lake Pl, which went into escrow after just 7 days, listed at $2.165M.

The Highlands also had activity to report with 1 closed escrow, which came from the East side of Highway 1 – a major fixer with distant/filtered ocean views on Upper Walden that closed at $1.2M (7% off of List Price).

Pebble Beach
CLOSED ESCROW – 3319 Stevenson Dr, $10.5M (Off-Market)
CLOSED ESCROW – 1109 Portola Rd, $5.475M (21% off of List Price), DOM=100
CLOSED ESCROW – 1484 Bonifacio Rd, $4M (8% off of List Price), DOM=32
CLOSED ESCROW – 78 Spanish Bay, $3.15M (10% off of List Price), DOM=134
CLOSED ESCROW – 79 Spanish Bay, $3.15M (2% off of List Price), DOM=129
CLOSED ESCROW – 3136 Spruance Rd, $2.15M (Off-Market)
NEW SALE – 1276 Viscaino Rd, $2.195M, DOM=214
NEW SALE – 4168 Sunset Ln, $1.175M, DOM=155
NEW SALE – 19 Ocean Pines #21, $685K, DOM=7
Active Listings = 86 Homes (Country Club West = 11, Country Club East = 19, Central Pebble = 26), 17 Lots

Carmel
CLOSED ESCROW – 2360 Bay View, $4.6M (1% off of List Price), DOM=274
CLOSED ESCROW – Mission & 3rd SW Corner #A1, $860K (4% off of List Price), DOM=159
NEW SALE – Casanova 2SE of 10th, $4.3M, DOM=120
NEW SALE – 26208 Atherton Dr, $1.349M, DOM=158
NEW SALE – 3424 Ocean Ave, $899K, DOM=1
Active Listings = 84 Homes (NW Carmel = 19, NE Carmel = 12, Golden Rectangle = 18, SE Carmel = 8, Carmel Point = 15, Hatton Fields = 12), 8 Lots

Quail
CLOSED ESCROW – 7036 Valley Greens Cir, $2.3M (8% off of List Price), DOM=127
NEW SALE – 8067 Lake Pl, $2.165M, DOM=7
Active Listings = 16 Homes (Preserve = 13, Quail Meadows = 1, Quail Lodge = 2), 41 Lots (Preserve = 37, Quail Meadows = 4)

Highlands
CLOSED ESCROW – 188 Upper Walden Rd, $1.2M (7% off of List Price), DOM=30
Active Listings = 32 Homes (10 Oceanfront), 6 Lots