We hope this week brought a strengthened sense of community by celebrating equality, diversity, and inclusion. CPG sends wishes for a Happy Pride Week across the globe. As always, an update on recent market activity in our regions:
With four new sales and two closings, Pebble Beach experienced a strong week including a historically significant uptick in activity at the top of the market. Canary Cottage went into escrow – located next door to the Lodge, the estate consists of 2.2 acres and has unobstructed views spanning Stillwater Cove, Carmel Bay, and Point Lobos (DOM = 21, list price = $32M). Other new sales this week in Pebble included a landmark Mid-Century Modern home with expansive elevated views on 17 Mile Drive (DOM = 150, list price = $8.6M), a Craftsman-style fixer on the market for approximately three months (list price = $2.895M), and a remodeled Traditional home on 1.6 acres near the Lodge (DOM = 98, list price = $3.95M). Closings in the region included a dated home in the Estates area selling for $1.92M after a year on the market (9% discount off list price) and a remodeled Ranch style 1970’s build in Country Club West (DOM = 244, sale price = $1.45M – a 3% reduction from asking price).
Carmel maintained a steady pace with two new sales and four closings this week. The top new sale in Carmel this week was a 1930’s-built historic Comstock home on Carmel Point listed for $5.75M (DOM = 18). There was one other new sale in the region – a dated custom home in the rectangle on the market for approximately 3 months with an ask of $2.299M. Carmel’s closed escrows included a recently built custom Craftsman home in Carmel by-the-Sea selling for 10% off list price (DOM = 126, sale price = $2.299M), an English cottage on Carmelo on the market for just 8 days (sold at $3.3M; a 1.5% discount from asking price), a bungalow on San Antonio with peeks of the ocean on the market for one week (selling for 8% off list price at $2.5M), and a fixer on an oversized lot on Santa Lucia Avenue selling for 4% over ask price (DOM = 17, sale price = $1.505M).
There was no new activity to report in the Quail or Highlands regions this week.