POP FESTIVAL RETURNS TO MONTEREY TO CELEBRATE ITS 50TH ANNIVERSARY

ellen Weekly Blog

At long last, the International Pop Festival returns to Monterey this weekend to commemorate the event that sparked a musical revolution. The local market lost momentum this week as new sales lagged from the previous two weeks – posting just 3 new sales across the board. The prime parts of Carmel snuck ahead to seize the weekly crown for its third week in a row while the Highlands area had activity to report for the first time in that same window.

A tale of two weeks for Pebble’s market as it posted mostly closed escrows (5) and just 1 new sale – contrary to last week’s performance of 1 closed escrow and 7 new sales. The top closed escrow came from the East side of coveted Padre Ln – a 90’s teardown with expansive ocean views that sold for $3.75M (6% off of List Price). The other closed escrows included a remodeled traditional-style home in between Stevenson and Spyglass Hill’s course that closed at $1.84M (12% off of List Price); a well maintained ranch style home in the Upper Forest that closed at the list price of $1.338M after being on the market for 7 days; a fully renovated 60’s ranch style home just North of Spyglass Hill’s 13th green that closed 1% over the list price of $1.299M and a major fixer with ‘good bones’ and views of a greenbelt that sold for $975K (19% off of List Price). The lone new sale is a small (1,663 sqft) ranch style home in the Country Club East area that’s listed at $1.149M.

Despite a mild slowing, Carmel’s market posted a respectable week with 7 closed escrows and 2 new sales. The top closed escrow came from the Carmel Point area – an oversized home (3,978 sq.ft.) on an oversized lot (7,500sqft) on Bay View Ave with peaks of the ocean that closed at $3.825M (3% off of List Price). The other closed escrows included an updated 80’s contemporary style home on 14th Ave with views of Fish Ranch that sold just 1% off of the list price of $2.48M; a recently built (’08) just opposite the Golden Bough in the heart of the Golden Rectangle that closed at $2.215M (3% off of List Price); a Mediterranean style home built in ’04 in SE Carmel that traded at $1.85M (1% over List Price); a partially updated 40’s Spanish style home on 2nd Ave in NE Carmel that closed at $1.6M (3% off of List Price); a dated cottage in the outskirts of NE Carmel that sold for $1.2M (3% off of List Price) and a ‘historic’ teardown in SE Carmel that sold for $870K (1% off of List Price). The top new sale comes from the outskirts of Carmel’s NE area – a partially renovated cottage (1,067 sq.ft.) with an ask of $1.276M. The other new sale is a 40’s teardown, also in the NE area, offered at $750K.

The Highlands area had activity to report this week with one closed escrow coming from the Southern end of Spindrift Rd on the West side of Highway 1 – a sprawling English manor estate (7,600 sqft), built in ’05 with filtered ocean views that closed at $5.441M. Worth noting that this property isn’t technically oceanfront, despite being on the Western side of Spindrift Rd.

Pebble Beach
CLOSED ESCROW – 1217 Padre Ln, $3.75M (6% off of List Price), DOM=112
CLOSED ESCROW – 1230 Silver Crt, $1.84M (12% off of List Price), DOM=178
CLOSED ESCROW – 4109 El Bosque Dr, $1.338M (Full Price), DOM=7
CLOSED ESCROW – 1141 Wildcat Canyon Rd, $1.3M (1% over List Price), DOM=6
CLOSED ESCROW – 1114 Sawmill Gulch Rd, $975K (19% off of List Price), DOM=44
NEW SALE – 3056 Larkin Rd, $1.149M, DOM=54
ACTIVE LISTINGS= 88 Homes (Country Club West=17, Country Club East=11, Central Pebble=33, Lodge=18, Upper Forest=9), 17 Lots

Carmel
CLOSED ESCROW – 2468 Bay View, $3.825M (3% off of List Price), DOM=59
CLOSED ESCROW – 2568 14th Ave, $2.48M (1% off of List Price), DOM=5
CLOSED ESCROW – Dolores 4SE of 9th, $2.215M (3% off of List Price), DOM=284
CLOSED ESCROW – Torres 9NW of 8th, $1.85M (1% over List Price), DOM=21
CLOSED ESCROW – 2nd Ave 2NE of Carpenter, $1.6M (3% off of List Price), DOM=29
CLOSED ESCROW – 24775 Valley Way, $1.2M (3% off of List Price), DOM=179
CLOSED ESCROW – NE Corner of Forest & 8th, $870K (1% off of List Price), DOM=13
NEW SALE – 5015 Lobos St, $1.276M, DOM=38
NEW SALE – Guadalupe 2SE of 4th, $750K, DOM=3
ACTIVE LISTINGS= 87 Homes (Carmel Woods=5, NW Carmel=18, NE Carmel=11, Golden Rectangle=22, SE Carmel=9, Carmel Point=12, Hatton Fields=10), 5 Lots

Highlands
CLOSED ESCROW – 174 Spindrift Rd, $5.441M (9% off of List Price), DOM=259
ACTIVE LISTINGS= 14 Homes (13 in Highlands – 6 oceanfront, 1 in Meadows), 5 Lots

Quail
No news to report
ACTIVE LISTINGS= 7 Homes (2 in Quail Meadows, 5 in Quail Lodge), 2 Lots

Around Town
6/16 : Summer Solstice Dinner
Cima Collina Hilltop Vineyard
$75-90
7:00 pm

6/16: Peter and the Starcatcher
Golden Bough Theatre
$8-38
7:30 pm

6/16-18 : Monterey International Pop Festival
Monterey County Fairgrounds
12:00 pm- 11:00 pm
$105- 695

6/18 : Run in the Name of Love 5K
Carmel by the Sea
8:30 am
$35-40

6/21 : Kids Summer Concert Series
MY Museum
$8
10:30 am