Since 1935, the Bach Festival has graced Carmel and expanded from 4 days of concerts into what is now a 2 week-long celebration. The Festival strives toward integrating music, education, and ideas in celebration of Bach’s worldwide influence. Join in on the festivities and check out a concert, recital, master class, lecture, or open rehearsal at Sunset Center. For tickets, visit http://bachfestival.org/tickets. Enjoy a performance, spark the imagination, and have a great weekend! The local real estate market was productive this week, ringing in 9 new sales and 11 closed escrows. Worthy of note, all new sales this week were below the $3M mark as the bottom of the market continues to maintain liquidity. Below please find a recap of our subject regions.
Pebble Beach experienced a busy week and contributed 7 of the 11 total closed escrows. Closings included a new warm contemporary on the approach to the 7th green of Poppy Hills which was on the market for 3 months (sale price: $6M, 14% off list price), the 1920’s-built “2nd Canary Cottage” in the Upper Forest which was on the market for a year (sale price: $5.5M, 7% off list price), a fixer on the “Miracle Mile” of 17 Mile Drive also on the market for a little over a year (sale price: $3.65M, 8% off most recent list price or 13% off original list price), a Country English style home near MPCC with ocean/golf views which sold full price at $3.599M after a week on the market, a circa 1990’s Spanish Mission built in Country Club West (sale price: $2.525M, 3% off list price), a partially updated remodel opportunity in Country Club East (sale price: $1.24M, 4% off most recent list price or 17% off the original list price, DOM = 225), and a Ranch style fixer, also in Country Club East, which sold after 2 days on the market for $1M even (an 18% discount off list price). Pebble had 2 new sales this week: a remodeled Ranch style home in Central Pebble (list price: $2.749M, DOM = 55) and a dated 1970’s contemporary home with a good footprint in Country Club East which was on the market for 2 weeks (list price: $1.275M).
The remaining 4 closings this week all occurred in Carmel: a 90’s-built home near town with ocean views sold for $3.027M (8% off list price) after less than 2 weeks on the market, an almost new “Contemporary meets Comstock” cottage in NE Carmel closed for 3% off list price at $2.03M (DOM = 66), vintage home in Carmel Point clocked in at $50K over ask ($1.85M) after 4 days on the market, and a partially remodeled 1940’s build on Highway 1 closed for $1.26M (3% off most recent list price or 16% off original list price, DOM = 78). The 6 new sales in the region consisted of a renovated beach house in Carmel Point (list price: $2.79M, DOM = 107), a cozy vintage cottage in NE Carmel on the market for 1 month (list price: $1.799M), updated traditional turnkey home on Highway 1 (list price: $1.695M, DOM = 37), another cute NE Carmel cottage with guest house (list price: $1.599M; original: $1.995M, DOM = 160), an ocean view condominium unit in NW Carmel which was on the market for 2 months (list price: $1.297M; original: $1.396M), and another condo in NW Carmel, closer to the heart of town, which was on the market for just 3 days with an ask of $985K.
There was a new sale in Carmel Meadows (Highlands sub-area) this week – a 1960’s era Ranch-style fixer on Ribera Road went into escrow after 10 days on the market with an ask of $1.325M.
Quail Meadows/Lodge and the Preserve had no activity to report this week.
