The 15th Annual First Tee Championship sponsored by Pure Insurance encourages and motivates young people by pairing juniors with golf leaders. One of 10 national First Tee opportunities, the Pure Insurance Championship at Pebble Beach runs through the weekend and is sure to be an inspirational event. Canning Properties Group wishes you a nice weekend. As always, below please find a recap showing our market activity:
This week was a quiet one across the board in our sub-regions, and there were no new sales or closed escrows to report in Pebble Beach.
Carmel rang in 2 closings and 2 new sales. A newly constructed European style estate on the southeast edge of the Golden Rectangle closed escrow for $3.6M (7.7% off list price and 32.7% off original list price) after 1 year on the market. The other closing was a 70’s-built partially updated ocean view home in Carmel Point which was listed for 16 months (sale price: $3.375M; 10% off list price). New sales included a remodeled cottage in NW Carmel near Pescadero Canyon on the market for just one week (list price: $2.395M) and a cozy updated 1950’s era Ranch-style home in Carmel Point listed for $1.598M (DOM = 131).
Carmel Highlands reported one closing this week – a renovated oceanfront estate with separate guest quarters on famed Spindrift Road closed for $8.475M after 8 months on the market. The property was the backdrop for the iconic final scene in the film “Play Misty for Me”, starring Clint Eastwood. Worthy of note, this sold for a 3.1% discount off the reduced list price and 22.9% off the original price.
A condominium unit on Valley Greens Circle in Quail Lodge went into escrow this week after approximately 3 months on the market (list price: $895K). There was no activity to report in the Preserve this week.