WITH A LITTLE RAIN, THE MARKET BLOOMS

ellen Weekly Blog

Quite a turnaround from the previous week with 11 closed escrows and 17 new sales – doubling last week’s total. Halloween was a success and we were fortunate enough to get some much needed rain over the weekend. The holiday season is in gear as lights are being draped and decorations percolating around town. Carmel retained the throne for another week with a flurry of sales including 11 new sales- an amount not seen in some time.

Pebble had a respectable week with 6 closed escrows and 4 new sales, regaining ground from last week’s total of 4 combined sales. The top closed escrow was on 17 Mile Drive near Spanish Bay- a remodeled single story home tucked behind the trees that closed at $1.895M (3% off of list price). The remaining closed escrows included 2 remodels and several major fixers that closed at $1.675M, $1.465M, $1.435M, $1.216M in the MPCC and Country Club areas. Worth noting that all escrows closed within 7% of list price. Another week with zero closed escrows above the $2M threshold, but that could change next week with two properties set to close above that mark.  After previously falling out of escrow, the top new sale came from the coveted Ballantrae Ln with an ask price of $4.95M. The other new sales included a teardown near the Lodge on Venadero with an ask of $2.395M and 2 fixers in the Country Club East area with asks of $1.1M and $1.05M.

Perhaps due to Carmel-By-The-Sea’s 99th birthday or some much needed rain, either way Carmel flourished this week with 4 closed escrows and 11 new sales. Carmel Point stole the spotlight with the top closed escrow on Inspiration- a ranch style home that closed at the list price of $2.398M. The other closed escrows included 2 fixers in the Golden Rectangle that sold at $1.435M (4% off of list price) and $1.335 (4% off of list price) as well as a tear down on the inner part of Ribera Rd that closed at $864K (8% off of list price). The top new sale came from the quiet and popular street of Shafter Way- a charming English country-home with an ask of $2.398M. The other key sales included a Mediterranean on San Antonio with an ask of $2.199M, another listing on Shafter with an ask of $2.2M, and a redesigned cottage on Guadalupe with an ask of $1.995M. The remaining new sales ranged from $1.699M down to $1.099M with most activity North of Ocean.

The Highlands remains active with 1 closed escrow and 2 new sales. The sole closed escrow came from East of Highway 1- a redwood shingled cottage that closed an impressive 2% over list price at $1.45M. The 2 new sales, also East of Highway 1, went into escrow this week with asks of $1.295M and $1.25M. Both with limited ocean views and in need of remodeling.

No news to report in the Quail area.

We are proud to announce we implementing a new way to view properties. If you are unable to view a home in person we offer live video tours. Call us or visit our website to schedule your private virtual tour.

Listing of the week: 5493 Oak Trail, Carmel

Highlands – 1 closed escrow, 2 new sales
CLOSED ESCROW – 32680 Coast Ridge Dr, $1.45M (2% over list price) , DOM=65
NEW SALE – 96 Oak Wy, $1.295M, DOM=17
NEW SALE – 201 Upper Walden Rd, $1.25M, DOM=10
Active Listings= 17 Homes (6 oceanfront), 1 Lot

Pebble Beach – 6 closed escrows, 4 new sales
CLOSED ESCROW – 2833 17 Mile Drive, $1.895M (3% off of list price), DOM=364
CLOSED ESCROW – 2823 Congress Rd, $1.675M (1% off of list price), DOM=164
CLOSED ESCROW – 1267 Cantera Ct, $1.465M (1% off of list price), DOM=130
CLOSED ESCROW – 4048 Sunridge Rd, $1.435M (7% off of list price), DOM=13
CLOSED ESCROW – 1150 Chaparral Rd, $1.216M (5% off of list price), DOM=7
CLOSED ESCROW – 1 Ocean Pines Ln, $625K (Full price), DOM=299

NEW SALE – 3209 Ballantrae Ln, $4.95M, DOM=15
NEW SALE – 1504 Venadero Rd, $2.395M, DOM=5
NEW SALE – 2805 Raccoon Trl, $1.1M, DOM=1
NEW SALE – 1076 Presidio Rd, $1.05M, DOM=56

Active Listings= 73 Homes (31 in MPCC area, 31 in Central Pebble, 10 in Upper Pebble), 25 Lots

Prime parts of Carmel – 4 closed escrows, 11 new sales
CLOSED ESCROW – 26404 Inspiration Ave, $2.398M (Full price), DOM=10
CLOSED ESCROW – Santa Fe 4SW of Ocean, $1.435M (4% off of list price), DOM=8
CLOSED ESCROW – Monte Verde 3SW of 12th, $1.335M (4% off of list price), DOM=121
CLOSED ESCROW – 2960 Ribera Rd, $864K (8% off of list price), DOM=60

NEW SALE – 25495 Shafter Wy – $2.75M, DOM=102
NEW SALE – San Antonio 3NE of 4th, $2.199M, DOM=145
NEW SALE – 25633 Shafter Wy, $2.2M, DOM=18
NEW SALE – NE Corner of Guadalupe & 6th, $1.995M, DOM=15
NEW SALE – Mission 3NW of 11th, $1.699M, DOM=91
NEW SLAE – 25247 Hatton Rd, $1.685M, DOM=186
NEW SALE – Lopez 3NW of 4th, $1.595M, DOM=15
NEW SALE – Camino Real 2SW of 12th, $1.595M, DOM=11
NEW SALE – Torres 4 SE of 9th, $1.45M, DOM=334
NEW SALE – Perry Newberry Wy, $1.425M, DOM=462
NEW SALE – 2nd Ave 2NW of Lincoln, $ 1.099M, DOM=25

Active Listings= 55 Homes (19 in Golden Rectangle, 7 in Carmel Point, 29 North and East areas), 2 Lots

Quail
Active Listings= 5 Homes (4 in Quail Meadows, 1 Quail Lodge), 1 Lot

Around Town:

11/06-11/07 – Half Marathon & Fitness Expo at the Monterey Conference Center

11/06  – The Trail Running Film Festival at Lighthouse Cinemas

11/07 – 6th Annual Veterans Day Celebration at the Marina Equestrian Center Park

11/07 – An Evening in the Garden at Mission San Antonio de Padua

11/07 – Flavors of Pacific Grove at The Links at Spanish Bay

11/07 – Stunt Dog Experience at The Sunset Center

11/07 – Warren Miller Chasing Shadows at the Golden State Theatre

11/08 – 13th Annual Big Sur Half Marathon. Map link

11/10 – Italian Night at Gusto: Gusto Pizzeria

11/12 – America’s Wine: The Legacy of Prohibition, Exclusive Film Screening & Wine Reception at The Irvine Theater

11/12 – Holman Ranch Announces 2015 Sip n Chat Class at Jarman Tasting Lounge

11/13 – 2015 International Documentary Film Festival at the Golden State Theatre

Best,
Mike, Jess & Nic