Pre-Holiday Market Bump

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As mentioned last week, we do see sporadic spikes in the Pebble Beach and prime Carmel markets throughot the holiday season; this week was one of them.

Pebble Beach and Carmel each saw 3 new sales and one closed sale. Not an avalanche of activity but very healthy for this quieter time of year.  Pebble saw all 3 sales of lower-priced sales in the Monterey Peninsula Country Club area (asks of $875, 899 and 1.595); it’s closed sale was also in the MPCC area, a small, older rancher which closed at 840.  Again, not great but certainly not bad.

The best areas in Carmel saw 3 new sales all in the Golden Rectangle, with asks of 1.58, 1.79 and 2.39; value-priced, well-located product.  After being ‘beaten’ by Carmel Point sales for some time, interesting to see the ‘Rectangle’ nudge ahead this week; that said, a significant factor in this difference this week is that The Point has zero inventory below $2M – it’s just not there – owners in that area with product below $2M considering selling should find a receptive marketplace.  The closed sale was a property again in the Rectangle along San Antonio (a busier street but still well-located) at $2.35.

Our photography for the charmer on Casanova we’re bringing to market was delayed this week but we should have it up on the Discreet section of our web site by next Friday.

We receive a fair number of questions from our readers and have decided to begin to post and answer a question each week.  For starters, “What is the Golden Rectangle?”  The Golden Rectangle refers to an area generally described as Ocean Ave on the north, Scenic Road on the west, Santa Lucia on the south and San Carlos on the east.  The market favors this location for it’s walkability to both Town and beach.

Finally, big news on the Canning family front:  Our son Nic and his wife Megan welcomed their first child, our first grandchild, Ryder Canning to the world on Monday.  Everyone’s healthy and happy.  -Grandpa Mike

About town:

11/7-11/10: Big Sur Food & Wine Festival

11/8: Sunset Center Presents Turtle Island Quartet with Nellie McKay: A Flower is a Lovesome Thing

11/13: Aubergine Presents: Thanksgiving Pies Cooking Class

11/16: Carmel Beach Clean Up