Happy Memorial Day from CPG! This weekend we honor the brave men and women we have lost during service in the U.S. Military. We have several events on the Central Coast dedicated to commemorating the holiday. There is a formal Memorial Day Service hosted by the Fleet Reserve Association at the Coast Guard Pier Branch 178 (100 Lighthouse Avenue, Monterey) at 10:30 AM on Saturday. This service pairs perfectly with coffee and a walk on the Recreation Trail along the water. We enjoy attending the free concert on the Monterey City Hall lawn featuring Monterey County Pops, a locally based 40-piece professional orchestra (1:00 – 4:00 PM). Our real estate market had a quieter week with some movement, including 4 closed escrows and 4 new sales. We hope you have a great weekend!
The lone closing in Pebble Beach this week was a 70’s built Contemporary fixer in the Upper Forest region, which sold for $950K (4.5% off the most recent list price or 17% off the original list price) after 80 days on the market. New sales in Pebble included a Traditional ‘80’s build, also located in the Upper Forest (list price: $1.995M, DOM = 133), in addition to a vintage Ranch style home awaiting a remodel which went into contract after 1 week on the market with an ask of $1.349M.
We had 2 closings and 2 new escrows in Carmel this week. A craftsman style home on a large manicured lot in Hatton Fields sold for $50K over ask after only 3 days on the market (sale price: $2.8M) as did a dated Mid-Century cottage in NE Carmel (sale price: $1.4M, 3.5% off list price, DOM = 145). New escrows consisted of a beach getaway in Carmel Point, just 1 block from the ocean, which was on the market for 3 weeks (list price: $3.495M) and a cozy vintage remodeled cottage in NE Carmel (list price: $1.385M, DOM = 9).
Carmel Highlands had a closing this week – a Mid-Century Modern ocean view beach house near Highway 1 sold for $1.945M (2.7% off the most recent list price) after coming on and off the market over the past year. There were no new escrows in Carmel Highlands and no closed sales or new escrows in Quail or the Preserve to report.
