The Market Continues to Strengthen in Pebble Beach and Carmel

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Demand continues to be strong at the top of the markets in Pebble Beach and Carmel, punctuated by our sale of Wit’s End after just 7 days on the market. This historic estate is located on the 13th green of the Pebble Beach Golf Links on a little over 2.3 acres with a list price of $31.25M. Another incredible property, 1540 Riata, went into escrow this week with a list price of $10.95M. The three other new sales in Pebble this week included 4015 Costado for $1.099M, 4064 Ronda Road for $895K and 59 Ocean Pines Lane for $675K. There were 6 closed escrows in Pebble Beach this week, including our listing at 1668 Crespi Lane that closed for $8.4M. The rest of the closed escrows this week were in the MPCC area – a region that continues to see strong traction in this market: 1072 The Old Drive sold for $2.295M, 1091 Lariat Lane sold for $1.57M, 1001 San Carlos Road sold for $1.45M, 3036 Sherman for $975K and 2955 Stevenson sold for $655K.

Carmel saw an uptick in activity on Scenic – a trend that is somewhat surprising considering 2013 was the highest levels seen on Scenic in over a decade. There were two new listings brought to the market and one that fell out of escrow is and available again. The new listing is a historic building, on a street-to-street lot 2NE of 13th, listed for $3.999M. Scenic 4SE of 9th also came to the market approximately 2 weeks ago for $3.75M and after multiple offers went into escrow this week. The other new sales in Carmel this week included the Mediterranean at the SE Corner of 10th & San Antonio that listed for $5.35M and Monte Verde 2NW of 11th listed for $1.395M. There were two closed escrows this week were 26271 Isabella that sold for $2.325M and Monte Verde 4SW of 13th for $2.04M.

We just brought a stately residence to the market on Randall that has been exquisitely renovated. This 5 bedroom, 5.5 bath home is perfectly situated for the family and entertaining indoors or out. Here’s a link to more information.

 

About town:

9/27-9/28 –  Philip Glass’ Days and Nights Festival: H2OMX & PLanet Ord at The Sunset Center

09/28 – Philip Glass’ Days abnd Nights Festival Event 4: IRA GLASS at The Sunset Center

09/28 – 50th Annual Carmel Mission FIESTA at the Carmel Mission

10/02-10/05 – 26th Annual Taste of Carmel at the Carmel Mission

10/03-10/19 – The Winter’s Tale at The Outdoor Forest Theater

10/03 – VNA Woman of the Year at Ferrante’s on the top floor of the Marriot

 

Best,

Mike & Jess