As residents and tourists alike flocked to the beaches for Independence Day celebrations, the local market put a pause on activity with just 5 closed escrows and 3 new sales collectively across all areas. Not atypical to have this kind of market behavior with a holiday in the middle of the week. Blue skies are in the forecast for the weekend and as always, a few highlights from the short week below:
Pebble lead all areas with 4 closed escrows and 1 new sale. The top closed escrow came from the Spanish Bay condo’s frontlines – a mostly original unit, perched atop a knoll with northwestern ocean views from both levels that closed at $4M (6% off of List Price). Worth noting that this highly sought after unit was on the market for only 20 days. The other closed escrows included a ranch style home with ‘good bones’ and potential in the MPCC area that closed at the list price of $1.525M; a major fixer with partial ocean views in the Country Club East area that sold for $1.55M (3% off of List Price) and a teardown on Mestres Dr that traded for $935K. The lone new sale comes from the Upper Forest – a teardown just north of a major artery (Sunridge Rd) that’s offered at $895K.
The prime parts of Carmel contracted this week as the market recovered from a beautiful and sunny 4th of July – only one closed escrow and 2 new sales this week. The lone closed escrow was a small (1,330 sqft) 30’s cottage on a busy street in SE Carmel that traded for $1.217M (5% off of List Price) – essentially dirt value. The top new sale comes from the NW area of Carmel – a cosmetically updated 60’s traditional style home with a guest house and an ask of $1.389M. The other new sale is a small (930 sqft) 30’s cottage teardown in the heart of the Golden Rectangle on Casanova & 10th, that’s offered at $1.249M.
No news to report in either the Highlands or Quail areas.
CLOSED ESCROW – 18 Spanish Bay Cir, $4M (6% off of List Price), DOM=20
CLOSED ESCROW – 1017 Ocean Rd, $1.575M (Full Price), DOM=2
CLOSED ESCROW – 2983 Colton Rd, $1.55M (3% off of List Price), DOM=73
CLOSED ESCROW – 1126 Maestros Dr, $935K (4% off of List Price), DOM=3
NEW SALE – 4095 Sunset Ln, $895K, DOM=278
ACTIVE LISTINGS = 81 Homes (Country Club West=15, Country Club East=10, Central Pebble=33, Lodge=17, Upper Forest=6), 16 Lots
CLOSED ESCROW – San Carlos 2NW of 10th, $1.217M (5% off of List Price), DOM=75
NEW SALE – Mission 2NW of 2nd, $1.389M, DOM=151
NEW SALE – Casanova 3SE of 10th, $1.249M, DOM=3
ACTIVE LISTINGS = 95 Homes (NW area=18, NE area=11, Golden Rectangle=26, SE area=12, Carmel Point=14, Hatton Fields=14), 6 Lots
No news to report.
ACTIVE LISTINGS = 27 Homes (8 oceanfront), 40 Lots
Quail Lodge/ Preserve
No news to report.
ACTIVE LISTINGS = 18 Homes = (14 in Preserve, 2 in Quail Meadows, 2 in Quail Lodge), 8 Lots