Pebble Beach had no closings this week, but there were 6 new sales in the region. A Canning Properties Group/Tim Allen co-listing was the top new sale this week in Pebble: an ocean view Mediterranean villa located on 1.6 acres on the 16th Fairway of Pebble Beach Golf Links went into escrow after 14 months on the market (list price: $14.9M, original: $19.5M). Other new sales included a sustainably built rustic modern contemporary in the private Macomber Estates (list price: $5.195M, DOM = 248), a recently built Spanish style home with ocean views across the street from MPCC (list price: $4.65M, DOM = 173), a vintage Spanish Mediterranean in Country Club West which was on the market for just under a month (list price: $2.375M, DOM = 29), a dated ocean view home near MPCC’s Shore Course listed for only 1 day with an ask of $1.75M, and a condo in Shepherd’s Knoll/Upper Forest (list price: $675K, DOM = 276).
The Garlic Capital of the World is located just 44 miles away from our region and is home to the processing plants of almost all of the garlic grown in the state. A whopping 45% of U.S.-based garlic comes from Gilroy, with roots originally tracing to heirloom crops from France and Italy. Garlic, also known as “the stinking rose”, has become increasingly popular largely due to hype and marketing surrounding the Gilroy Garlic Festival. This weekend marks the 41st annual Garlic Festival which entails food demonstrations, live music, libations, and a wide variety of vendor booths. Visit gilroygarlicfestival.com to purchase tickets to the fun-filled garlicky experience! We had another steady summer week in our local real estate market; slower from a unit's closed perspective with just 3 closings, but we rang in 11 new sales across the board in our subject regions. Below please find a recap outlining this activity.
Canning Properties Group represented the sellers of the top closed escrow in Carmel this week – an elegant renovated quintessential Carmel cottage off the beaten path on Ridgewood Road – which sold for $3.3M (5% off most recent list price or 6% off original list price, DOM = 300). The other closing this week was a charming updated 1940’s-built cottage in NE Carmel which was on the market for only 4 days (sale price: $1.46M, 1% off list price). New sales in Carmel this week were a recently built modern home on a corner lot near Carmel Beach in the Golden Rectangle with an ask of $3.195M (DOM = 106) and an adorable cottage just 3 blocks from town in NE Carmel which went into contract just 2 days after it was listed (list price: $1.32M).
We were honored to represent the sellers of the only closing in Carmel Highlands this week: an impeccably remodeled ocean view contemporary just off Yankee Point, which closed for a 7% discount off list price at $2.8M after less than a month on the market.
Quail had a productive week – there were 3 new sales, all in Quail Lodge. Two of these new sales were on Valley Greens Circle: a Ranch style home near the 5th tee (list price: $1.575M, DOM = 107) and a Mid-Century Modern (list price: $1.55M, DOM = 159). The other new sale in the region was a single level condominium unit on Valley Greens Drive which was on the market for a little over 2 months with an ask of $995K. There were no sales to report in the Preserve this week.
