Merry Christmas and Happy Holidays All. Clear and a bit chilly here today but should be beautiful for golf or walking the beach all next week.
On the real estate front, Pebble Beach showed surprising end-of-year activity this week with 5 new sales and 2 closed sales – a good pace at the height of the selling-season. The new sales consisted of 4 lower-priced MPCC homes (all under $1.2M) and a front-line MPCC home on Rodeo that’s been on the market forever with an ask of $4.995. Again, surprising demand activity this late in the year. The closed sale in Pebble was a very modest fixer in the upper part of the Forest on Crest which closed at $449,000 – not much above lot value.
Activity in Carmel wasn’t all bad either with two new sales, a fairly large home on Carmel Point with an ask of $3.9 and a tear-down with approved plans/permits on the west side of San Antonio with an ask of $2.5 (although I hear this one is already falling out of escrow). Carmel had one closed sale, a well-located spec home on Casanova/8th, which closed at $2.2.
All things considered, a pretty healthy way to end the year in the Pebble Beach and prime Carmel markets. Next week we’ll be compiling our regular year-end recap and will have that out to all just after the first of the year.
12/24: Christmas Eve Services at Carmel Presbyterian Church at 4:00 pm, 5:30 pm & 7:00 pm
12/25: Hyatt Carmel HIghlands to Offer Christmas Dinner at Pacific’s Edge
12/27: The Legends of Rock and Roll Tribute Concert at the Golden Bough
Mike, Lynn & Jess.