The Peninsula is enjoying a much needed rain shower this weekend with more in the forecast through Monday. The local market keeps chugging along with consistent activity in the Carmel and Pebble markets. The Highlands area picked up while the Quail area remained quiet. As always, a few highlights from the week below:
Most of the activity for Pebble’s market this week was below the $2M threshold with one exception at the top of the market. The top closed escrow came from the prized Padre Ln – a sprawling Mediterranean style home with expansive ocean views and a guest house that closed at $8.6M (12% off of List Price),. The other closed escrows included a custom spec-play in the Upper Forest that sold for $1.168M (3% off of List Price) and a condo – also in the Upper Forest – that closed at $633K (2% off of List Price). The top new sale came from the Country Club East area on Patio Dr – a 70’s ranch style home that has extensively updated since with an ask of $1.595M. The other new sales include a two-story traditional style home with filtered ocean views in the Country Club West area near Spanish Bay, offered at $1.495M and an oversized major fixer near Highway 68, listed at $1.125M.
Carmel’s market gained momentum from the previous week with 5 closed escrows and 1 new sale. The top closed escrow came from the often-overlooked NW area of Carmel – a charming cottage with ocean views on the West side of Carmelo that sold off-market at $3.2M (3% off of List Price). The other closed escrows included a Mediterranean style spec-play in the heart of the Golden Rectangle that sold for an impressive $2.965M (1% off of List Price); a condo in downtown Carmel-By-The-Sea that closed at $1.5M (12% off of List Price) and tear fixers on Carpenter Rd in NE Carmel that sold for $1.225M (1% off of List Price) and $860K (Full Price) respectively. The lone new sale came from the outskirts of Carmel’s NE area – a 40’s cottage fixer with an ask of $1.095M.
The Highlands area saw an uptick in activity with 2 closed escrows and 2 new sales, which is a robust week for that area by any standards. The top closed escrow was a Yankee Point frontlines property with expansive SW ocean views that closed at $4.25M (10% off of List Price). The other closed escrow was a Midcentury Modern style home near Highway 1 that closed at the full list price of $1.395M. The top new sale went into escrow after only 4 days on market – a rustic 80’s contemporary style home with ocean views and an ask of $1.795M. The other new sale comes from Cypress Way, which is on the East side of Highway 1 – a dated 60’s ranch style home with distant ocean ocean views and an ask of $1.37M.
No news to report in the Quail area.
CLOSED ESCROW – 1248 Padre Ln, $8.6M (12% off of List Price), DOM=661
CLOSED ESCROW – 4113 El Bosque Dr, $1.168M (3% off of List Price), DOM=70
CLOSED ESCROW – 76 Ocean Pines Ln, $633K (2% off of List Price), DOM=17
NEW SALE – 3139 Patio Dr, $1.595M, DOM=8
NEW SALE – 2853 Oak Knoll Rd, $1.495M, DOM=114
NEW SALE – 2908 Congress Rd, $1.125M, DOM=36
ACTIVE LISTINGS= 65 Homes (Country Club West=9, Country Club East=19, Central Pebble=16, Lodge=10, Upper Forest=11), 16 Lots
CLOSED ESCROW – Carmelo 3SW of 4th, $3.2M (3% off of List Price), DOM= Off-Market
CLOSED ESCROW – SW Corner of Casanova & 10th, $2.965M (1% off of List Price), DOM=55
CLOSED ESCROW – Mission 3NW of 4th #5, $1.5M (12% off of List Price), DOM=200
CLOSED ESCROW – 24808 Carpenter Rd, $1.225M (1% off of List Price), DOM=10
CLOSED ESCROW – Carpenter Rd 4NE of 4th, $860K (Full Price), DOM=111
NEW SALE – 24720 Camino Del Monte, $1.095M, DOM=133
ACTIVE LISTINGS= 63 Homes (NW Carmel=12, NE Carmel=4, Golden Rectangle=19, SE Carmel=6, Carmel Point=11, Hatton Fields=11), 4 Lots
CLOSED ESCROW – 108 Yankee Point Dr, $4.25M (10% off of List Price), DOM=116
CLOSED ESCROW – 5 Yankee Point Dr, $1.395M (Full Price), DOM=12
NEW SALE – 201 Spindrift Rd, $1.795M, DOM=4
NEW SALE – 122 Cypress Wy, $1.37M, DOM=9
ACTIVE LISTINGS= 16 Homes (6 oceanfront), 7 Lots
No news to report
ACTIVE LISTINGS= 13 Homes (10 in Preserve, 2 in Quail Meadows, 1 in Quail Lodge), 32 Lots