Although it was an action-packed election week in town, the market was quiet with 1 closed escrow and 2 new sales in our subject regions, all of which occurred in Pebble Beach. Whether you were out exercising your civic duty, watching the polls at home, or enjoying another beautiful fall sunset, we hope you had a great week. Below please find a few highlights from the week in addition to the current numbers for active inventory in our areas of focus:
The closing this week in Pebble was a 1970’s-built contemporary in the Upper Forest which sold for a 6.2% discount off list price at $1.215M. Worthy of note, this sold for 32% off the original list price of $1.795M and was on the market for approximately 1 year. The new sales consisted of a bank-owned dated French-style home with an apartment over the garage (list price: $2.875M, DOM = 10) and a remodeled contemporary home near MPCC on the market for just 1 week (list price: $1.3495M).