Carmel surged last week with 3 sales, 2 significant ones: $7.95M triple lot tear-down with plans/permits along Scenic and a very sophisticated contemporary home also along Scenic with an ask of $6.5M that sold the first week it hit the market. The third sale was a classic Carmel cottage in the Golden Rectangle competitively priced with an ask of $1.825M. Carmel also saw 2 closed sales – 2 of those red hot ‘fixers’ in the Golden Rectangle, both well-located and priced in the $1.2’s. That product continues to fly off the shelf.
Pebble Beach slowed just a bit last week, with 2 new sales and 2 closed sales. The new sales were both older fixers in the $800’s located in the MPCC part of Pebble; as mentioned previously, the supply of properties under $1M in Pebble is going, going, gone. The closed sales included a nice MPCC home at a closed price of $1.48M and a Townhome at The Lodge at $3.24M, essentially full-ask; for the first time in memory, there are no Townhomes openly for sale in Pebble – the market has clearly registered an increased demand for that Townhome location and product (convenient to The Lodge/Beach Club/Casa Palmero, lower maintenance,…).
For the foodie and wine aficionados The Pebble Beach Food and Wine festival is in town this week. If you’ve been, you know how great it is; if you haven’t, you owe yourself the experience.
Mike, Lynn & Jessica