Activity slowed this week with just 6 new sales and 6 closed across Pebble Beach, Carmel, the Carmel Highlands and Quail. Here’s a quick recap:
Pebble Beach had half of the sales with 3 new and 3 closed escrows. Investors were particularly active this week in Pebble with the bulk of the activity in short sales and fixers. The top new sale this week is 1302 Portola, a large house close to the Lodge that just went into Short Sale status with a list price of $4.289M. The other two new sales were 4030 Mora Lane which is listed for $1.47M and 3030 Stevenson Drive with a list price of $1.199M. The closed escrows were all under $1.3M this week: 4036 Costado Place closed for $1.2M, 1040 Lost Barranca Road closed for $915K and 2957 Sloat closed for $915K. The sub-$1M market has almost evaporated in Pebble with just 5 left on the market and selling in approximately 15 days.
Carmel had 2 new sales and 3 closed escrows this week. The new sales were 3930 Via Mar Monte listed for $1.95M and a commercial building at Lincoln 3SE of 5th for $1.695M. Surprisingly, there were no new sales in either the Golden Rectangle or Carmel Point this week – a clear sign of tightening supply in our key markets. The closed sales included 24429 Portola Avenue which sold for list price at $2.095M, 24770 Handley Drive sold for $863K (above list price) and 27304 Highway 1 sold for $895K. We were honored to represent the Odello Family in the sale of all three of their homes on this historic knoll facing River Beach.
The 6th new sale this week was our listing at 7012 Valley Greens Circle in Quail Lodge – an inspired riverfront contemporary home.
7/18: Bug Walk at Earthbound Farm – a great event for the kids!
7/18: Opening Night for the Carmel Bach Festival with Fireworks and Harmony at the Sunset Center
7/18-8/1: Carmel Bach Festival has events throughout the day. Click here for a full list of events.
Jess, Mike & Nic