THE CALM AFTER THE STORM

ellen Weekly Blog

Car week has rolled through and the town is settling back into its normal summer state of mind. We’ve been blessed with some overcast days lately, which has helped slow the ongoing Soberanes fires (now 60% contained with an updated full containment goal by end of Sept). Behaving somewhat like a roller coaster, the market dropped noticeably in activity from the previous week’s robust performance. As always, a few highlights to note below:

It appears that the spending hangover from car week is settling in for buyers as Pebble goes dormant with just one closed escrow and new sale a piece. The lone closed escrow came from the central Pebble area- a Mediterranean fixer just off of the 18th tee box of Spyglass Hill that closed at $1.57M (13% off of List Price). It is with great honor that we have the opportunity to represent the buyer of the top new sale this week. 1658 Crespi Ln, also known as Casa Ladera, is truly a one-of-a-kind property that sits atop a knoll, overlooking Stillwater Cove, Point Lobos and beyond. We’ll keep you updated as we progress through the purchase of this landmark property.

Carmel’s market was not immune to the ‘hangover’ either as it had a lackluster performance as well with 3 closed escrows and 2 new sales. The top closed escrow came from the Southern part of the Golden Rectangle- a recently built Mediterranean-style home on an oversized lot that closed at $3.1M (5% off of List Price). The other closed escrows included an English Tudor home in NW Carmel that was built in ’01 that sold for $2.148M (2% off of List Price) and a triplex teardown, NE Carmel that closed at $1.175M (4% off of List Price). The top new sale is a very small, historic house (built in 1898) in NW Carmel with an ask of $1.09M. The other new sale is a recently remodeled Mediterranean-style home in Carmel Point that went into escrow after a recent price reduction and an ask of $2.599M.

The Highlands market had activity this week with two closed escrows- one being oceanfront. We’re thrilled to represent the seller of the top closed escrow for this week. A Mark Mills Midcentury-Modern home on perhaps the best lot in Ottercove- 30890 Aurora Del Mar closed at $5.1M (7% off of List Price). The other closed escrow is cottage teardown on an inlet, just below the Highlands Inn that closed at $1.175M (13% off of List Price).

No news to report in Quail

Pebble Beach

ACTIVE LISTINGS= 80 Homes (Country Club West=19, Country Club East=14, Central Pebble=26, Lodge=16, Upper Forest=5), 21 Lots
CLOSED ESCROW – 1215 Bristol Ln, $1.57M (13% off of List Price), DOM=11
NEW SALE – 1658 Crespi Ln, $18M, DOM=617

Carmel

ACTIVE LISTINGS= 95 Homes (Carmel Woods=8, NW Carmel=18, NE Carmel=13, Golden Rectangle=19, SE Carmel=11, Carmel Point=14, Hatton Fields=12), 6 Lots
CLOSED ESCROW – Mission 4SW of 13th, $3.1M (5% off of List Price), DOM=382
CLOSED ESCROW – Casanova 3SE of 2nd, $2.148M (2% off of List Price), DOM=5
CLOSED ESCROW – 24836 Santa Fe, $1.175M (4% off of List Price), DOM=31
NEW SALE – Monte Verde 2SE of 5th, $1.09M, DOM=75
NEW SALE – 2658 15th Ave, $2.599M, DOM=115

Highlands

ACTIVE LISTINGS= 29 Homes (24 in Highlands- 8 oceanfront, 5 in Meadows- 1 oceanfront), 8 Lots
CLOSED ESCROW – 30890 Aurora Del Mar, $5.1M (7% off of List Price), DOM=267
CLOSED ESCROW – 255 Highway 1, $1.175M (13% off of List Price), DOM=11

Quail

ACTIVE LISTINGS= 8 Homes (4 in Quail Meadows, 4 in Quail Lodge), 2 Lots
No news to report in Quail