The market in our target regions maintained a quick pace in preparation for the Big Sur Marathon. This week there were five closed escrows in Pebble Beach, three in Carmel, and one in the Highlands, in addition to six new sales in both Pebble and Carmel, and two new sales in the Preserve. Be sure to plan your weekend traffic logistics in advance, as there will be road closures on Highway 1 due to the race. For more information regarding the Big Sur Marathon, please visit: bigsurmarathon.org. As always, a few highlights from the week below:
Pebble Beach experienced an action-packed week with the bulk of activity occurring at the bottom of the region’s market. The top closed escrow in Pebble was a dated custom two-story with whitewater views in Country Club West on the market for less than two weeks (sale price = $2.84859M, 5% off list price). The remaining four sales in the region included an updated 1950’s home near MPCC which sold for $1.85M, the Mediterranean in Country Club East on the market for less than a week (sale price = $1.825M), a remodeled Ranch style home on the market for 3 days selling full price ($1.095M), and a fixer opportunity near Spanish Bay which sold above asking price in just over a week. The new sale with the highest price tag this week was the custom-built Mediterranean near The Lodge listed at $9.5M. Remaining new sales included a twice remodeled Contemporary Mediterranean listed at $1.895M, a dated French Normandy style home on the market for just four days (list price = $1.595M), a mid-century Post Adobe fixer with a list price of $1.395M, a 1960’s built home in Upper Forest on the market for 5 months listed for $899K, and a Traditional single-level Country Club East fixer (list price = $885K).
Mimicking Pebble’s theme, Carmel was on the fast track this week as well. The three closings in Carmel included: a bungalow in SE Carmel on the market for one week which sold for $2.275M (2% off list price), a home in the Golden Rectangle on an oversized lot (sale price = $2M, DOM = 193) and a 1960’s-built condominium unit in Pine Terrace (sale price = $585K). Carmel’s busy week resulted in six new sales under contract; a dated ocean view Post Adobe in Hatton Fields on the market for just over two weeks (list price = $3.495M), an English Carmel Stone cottage listed for $3.35M (DOM = 8), a Carmel Point home one block from the beach with a list price of $2.595M, a 1970’s Custom build in the Golden Rectangle listed at $2.345M (DOM = 6), a generously sized remodeled cottage on the market for one year with an ask of $2.175M, and a cozy vintage beach cottage listed for $1.195M.
Carmel Highlands rang in one closing this week – a 1970’s-built ocean view Mediterranean on Yankee Point which closed for $1.925M (DOM = 118). There were no new sales to note in the Highlands region.
There was no market activity in the Quail area this week, but the Preserve picked up the momentum with two new sales. An 8,000+ sq. ft. Spanish style home on 60 acres overlooking the 18th green went into contract with a list price of $5.5M after 1 ½ year on the market, as did a 10-year-old Mediterranean estate listed at $3.995M.