Gifts wrapped, check… Stockings in place, check… Cookies and milk for Santa, check…
We’re enjoying another rainy weekend on the Peninsula as we hunker down for Santa’s arrival Sunday morning. Shoppers hit the streets of Carmel this week as we saw a flurry of new sales(4) roll through. Coupled with a few closed escrows, Carmel retained the weekly crown for the 4th week in a row. As always, a few highlights from the week below:
Pebble’s market picked up slightly from the week before, edging closer to seasonal averages we approach the final week of 2016. The top closed escrow came from the prized Crespi Lane – a 1920’s Mediterranean-style home, originally built by Hugh Comstock, that sold for $6.325M (10% off of List Price). An iconic property steeped in Pebble’s history. The other closed escrows included a recently built (’07) ranch-style home on the 2nd green of MPCC’s Shore Course that closed at $2.025M (8% off of List Price) and a condo in the Upper Forest that sold for $600K (3% off of List Price). Inventory will remain tight through the holidays but anticipate levels to rise leading up to February.
The rain and cold weather didn’t slow home buyers in Carmel this week as we saw 3 closed escrows and 4 new sales –well above seasonal norms. The top closed came from Carmelo which is considered by many to be one of the best streets in the Golden Rectangle- a recently remodeled Craftsman cottage with ocean views that sold for $3.5M (2% off of List Price). The other closed escrows included a 1920’s cottage in the outskirts of NW Carmel that closed at $1.25M (22% off of List Price) and a ranch-style teardown just North of Ocean Ave in NE Carmel that sold for $972K (2% off of List Price). The top new sale is ranch-style home on an oversized lot with filtered ocean views on Casanova in NW Carmel with an ask of $1.45M. The other new sales include a 80’s Contemporary-style home on Ocean Ave, listed at $1.195M; a ranch-style home in the quiet, Lower Hatton Fields, listed at $1.189M and a ranch-style fixer in the outskirts of SE Carmel with an ask of $998K.
The Highlands saw some activity this week with a frontline listing in Carmel Meadows going into escrow. The new sale is a remodeled ranch-style, 2 story home with ocean views that overlook Monastery Beach and Point Lobos, offered at $5.299M.
No news to report
CLOSED ESCROW – 1700 Crespi Ln, $6.325M (10% off of List Price), DOM=413
CLOSED ESCROW – 1036 San Carlos Rd, $2.025M (8% off of List Price), DOM=29
CLOSED ESCROW – 76 Ocean Pines Ln, $600K (3% off of List Price), DOM=136
CLOSED ESCROW – Carmelo 2NW of 13th, $3.5M (2% off of List Price), DOM=91
CLOSED ESCROW – Dolores 2NW of 2nd, $1.25M (22% off of List Price), DOM=179
CLOSED ESCROW – Carpenter 2SE of 5th, $972K (2% off of List Price), DOM=7
NEW SALE – Casanova 3NE of Ocean Ave, $1.45M, DOM=3
NEW SALE – SE Corner of Torres & Ocean Ave, $1.195M, DOM=82
NEW SALE – 26201 Mesa Pl, $1.189M, DOM=20
NEW SALE – Acacia Wy 4SE of Flanders Wy, $998K, DOM=182
NEW SALE – 2932 Cuesta Wy, $5.299M, DOM=160