Sharpen your pencils and get those backpacks and lunches packed. Summer break is over and it’s time to get back into the swing of things – are you ready for the school year? Homework and after-school activities here we come! The local real estate market wound down just a tad as the focus shifted to adjusting to school schedules. We reported 6 new sales and 9 closed escrows in our subject regions this week. We hope the school year is off to a great start for you and your families, and may it be filled with growth and plenty of fun. Below please find a recap of our activity this week.
Pebble carried the lead this week, reporting 4 of the total closings: a Mediterranean with views of the 9th Fairway of MPCC sold for $2.65M (7% off most recent list price or 12% off original price) after 3 months on the market, a renovated 1920’s-built Spanish estate in Country Club West sold for 3% off list price at $2.3M (DOM = 29), a cozy remodeled Ranch style home (also near MPCC) sold for $1.665M (less than 1% off list price) after 3 weeks on the market, and an updated vintage single level home in quiet Country Club East clocked in full price at $1.549M after just 1 day on the market. New sales this week were evenly split between Pebble and Carmel: the 3 listings now under contract are a renovated 70’s-built Contemporary on a lush acre-plus lot in Central Pebble (list price: $2.25M, DOM = 133), a completely remodeled home of a similar era in Country Club West (list price: $1.875M, DOM = 210), and a dated Post Adobe with views across the 8th Fairway of MPCC’s Dunes Course and bonus water allocation which is listed for $1.188M (DOM = 18).
Canning Properties Group was honored to represent the buyers of the top sale in Carmel this week: a charming light-filled Modern cottage on a quiet secret street in the Golden Rectangle (sale price: $2.4M, 4% off most recent list price or 15% off the original list price, DOM = 145. The other 2 closings in Carmel were a Mid-Century Modern with guest house in Carmel Point which sold for $1.875M (3% off list price) after 3 months on the market and a cozy dated as-is cottage on the East edge of the Golden Rectangle closed for $850K (15% off most recent list price or 17% off original list price; DOM = 43). The new sales in Carmel this week consisted of a charming updated 90’s-built cottage in NW Carmel on the market for approximately 3 weeks (list price: $2.295M), a dated home with the separate guest studio on a large in the Golden Rectangle (list price: $2.175M, DOM = 34), and a beloved family cottage in NW Carmel ready for it’s next remodel (list price: $1.895M, DOM = 65).
The Highlands had a closing this week – a 90’s-built ocean view Contemporary perched on over an acre atop San Remo Road rang in at $1.8175M, a 19% discount off the list price, after 2 months on the market. There were no new sales to report in the Highlands.
There was 1 closing in Quail Lodge to note: a green-designed condominium unit on Valley Greens Drive sold for $950K, a 5% discount off the list price (or 8% off original list price) after a couple of months on the market. There were no new sales in Quail or the Preserve this week.
