Scenic Continues to Lead the Upper-End

admin Weekly Blog

Prime properties along Scenic Road continue to be in demand in Carmel.  In addition to the 2 lot parcel on Carmel Point that went into escrow last week, there was  another new pending sale on an interesting street-to-street, San Antonio to Scenic, parcel that boasted an old Sears log-cabin kit structure which was recently deemed non-historic, a highly valuable designation as it is a tear down.  This clarification in the designation of the property no doubt helped the sale; the property was listed for $3.89M.  Coincidentally, of the 2 properties that closed escrow this past week, 1 of them was also located on Scenic Road – a fixer near 8th Avenue that closed for $3.75M – and a completely remodeled contemporary home on Carmel Point, 26309 Ocean View Avenue, which sold for $3.35M.

While it is encouraging to see demand in Carmel above $3M, Pebble remains sluggish at the top.  Although 3 properties went into escrow this week, all were listed under $2M, and, all are in the MPCC area.  A turnkey home on Hacienda listed for $1.6M, a fixer on Stevenson for $1.2M and another fixer on Bird Rock for $899K.  Pebble saw 2 closed escrows ,also located in the MPCC area: a renovated home on Larkin for $790K and a fixer on Patio Drive for $799K.  Pebble remains solid and steady down below but tentative at best going north of $4M. Will be interesting to track demand at the upper-end as we enter our prime market for those seeking to escape the heat – July and August.

A few noteworthy events coming up in the next week are:

6/15: Monterey Beer Festival

6/16: Father’s Day

6/16: Run in the Name of Love: Third annual Father’s Day 5K run and 2K walk through Carmel

6/19: Aubergine Presents: Bread Pudding for Home Cooking Class

We hope that you have a wonderful Father’s Day weekend,

Mike, Lynn and Jess