The prime parts of Carmel and the Pebble Beach markets clearly continued to show typical seasonal slowing but, we did see a few sales of note. The highlight was one more sale down on Carmel Point along Scenic Road: a new contemporary home with an ask of $6.995; this property had gone into escrow a few weeks ago but that deal blew up – we’ll see if it holds together this time. As mentioned previously, Scenic will have it’s all-time record year this year – we’re going to be preparing a Scenic-specific market analysis in late December. A smaller, older home down on Ocean View on Carmel Point with an ask of $2.595 was the second new sale last week – Carmel Point continues to find great favor in the marketplace – just a great place to live. Carmel also saw one closed sale, an old Mediterranean on two lots on Carmelo in the Golden Rectangle which had been on the market nearly two years closed at $3.65 – pretty good price for a larger home on a huge lot.
Pebble saw two sales of properties under $1.15 last week and no closed sales. Clearly slowing down; however, with several significant properties listed there we are continuing to see steady showing traffic – a good sign for potential momentum going into 2014.
As an aside, we also put into escrow a great property we have listed in Quail Meadows (www.5493oaktrail.com). Fabulous home, guest house, art studio and barn on 10 very private acres , minutes to town); Quail Meadows is an interesting cross-over neighborhood, offering a great Valley feel, larger homes, privacy and sunshine while still 5 minutes to Carmel.
We just posted info in the Discreetly Available section of the website on the Carmel cottage we just listed on Casanova; classic cottage in a great Golden Rectangle location. Next week we will also be featuring in Discreet a charming riverfront home in Quail Lodge and a wonderful ocean view country estate on 43 acres next to Tehama minutes to Carmel. Both good properties.
Weekly Question: We frequently confront the question about the plusses and minuses of Carmel vs. Pebble Beach. Clients often go back and forth between the two, apologizing for the lack of clear focus – happens all the time and it’s also not at all unusual for spouses to be of differing views on the optimal target. Very generally, Carmel offers smaller homes (1600-2200 sq ft) on smaller lots (average lot in town is 4000 sq ft) walkable to both Town and Beach – great weekend homes but the size can become a constraint for extended stays; Carmel is more expensive per sq ft than Pebble. Pebble offers larger lots (MPCC lots are generally 10,000 sq ft and Estate area lots average 1.5 acres) and larger homes (2500 sq ft on up to 10,000 +); more privacy, more space but, without the easy access to restaurants, shops and beach. The MPCC/Spanish Bay areas of Pebble are also much foggier than the Estates part of Pebble and all of Carmel. They’re both great choices and there’s no wrong answer but, they’re very different and it can take some time for clients to sort out their priorities.
11/16: Carmel Beach Cleanup
11/19 – 11/24: Callaway Pebble Beach Invitational