Hope all had a wonderful Thanksgiving holiday. Spectacular weather for the holiday here in Carmel/Pebble and we’re now getting some sorely-needed rain.
On the Pebble Beach and prime Carmel market fronts, pretty clear that Carmel has begun its holiday siesta: zero new sales in the prime parts of Carmel in the past two weeks and only 1 closed sale, a major-fixer on a double lot in the Golden Rectangle that closed at $1.665M, well below the sellers previous sale price. After a very strong year it does look like the Carmel market is ready to take a holiday breather.
Pebble however continued to pop with 8 news sales in the past two weeks and 4 closed sales – exceptional velocity for this time of year. Not entirely sure why the different velocity between Carmel and Pebble – don’t sense any major pattern but we’re paying attention to it. The 8 new sales included our Townhome at The Lodge with an ask of $3.95M (drew multiple offers) and a larger fixer on Viscaino in the Estates part of The Forest with an ask of $2.3M and the balance of new sales under $1.575M scattered throughout the MPCC or Upper Forest areas. Pebble’s closed sales involved an older home and guest house along 17 Mile Drive opposite the 15th hole at $3.788M and 3 MPCC-area homes all under $1.187M. Watching the MLS this week my sense is that Pebble will also be slowing but the past two weeks defied historical norms – very healthy activity.
Holiday activities are picking up around town – hope you’re able to get out and enjoy them:
12/5 – Holiday Tree Lighting 430 pm at Devendorf Park
12/5 – Carmel Plaza Holiday Open House from 5-7pm
12/7 – Inns of Distinction Tour offered by Carmel Heritage Society
Mike, Jess & Nic