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With nearly 30 years of experience in the Pebble Beach and Carmel markets, the Canning team knows the market- both the openly listed and discreetly available inventory, Together with their associates they are uniquely qualified to offer the highest level of professionalism and service on the Monterey Peninsula.

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Mike Canning

831.596.1171

Jessica Canning

831.238.5535

Nic Canning

831.241.4458

Ellen Krausse

831.204.2204

Natalie Pitschke

831.521.7363

Brian Keck

831.238.8730

© 2019 Canning Properties Group of Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s Intentional Realty, Inc.

 

SIR DRE License Number: 899496, Mike Canning DRE#01004964, Jessica Canning DRE#01920034, Nic Canning DRE#01959355, Ellen Krausse DRE#02046046, Natalie Pitschke DRE# 02041776, and Brian Keck DRE#02070480.

A Post-Celebratory Lull

Updated: Mar 7, 2019


Photo by Jeremy Bishop on Unsplash

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.



Pebble Beach
  • 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

Carmel
  • 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

Carmel Highlands
  • 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





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