In observance of Memorial Day, Canning Properties Group extends our gratitude toward the bravery of our servicemen and servicewomen. We wish you a happy and safe three-day weekend and hope you have a chance to relax with your loved ones. If you are travelling in our neck of the woods this weekend, you are in luck – the Rio Road work has been put on pause to accommodate holiday related traffic. As always, below please find our update from the preceding week:
Carmel maintained the pace this week with three new sales and four closed escrows. Canning Properties Group is honored to represent the top closed escrow in Carmel: a sizeable traditional masterpiece on a lush oversized lot near downtown and the beach at Camino Real 3 SE of 4th (sale price $4.05M; 8% off list price). The three other closings in Carmel included a traditional off-market remodel (selling at full ask price of $2.45M), a custom ocean view home in the Golden Rectangle which went into contract in under a week and closed for $2.4M, and a small beach cottage located a few blocks from Ocean Avenue at $1.165M (less than 3% off list price). New sales in Carmel were as follows: a partially remodeled 1920’s-built ocean view home on Carmelo (DOM = 12, list price = $4.395M), a custom craftsman cottage on a double lot with an ask of $3.995M, and a Mid-Century home on half an acre in Southeast Carmel listed for $1.325M.
Carmel Highlands had one new sale to report this week – after just shy of one year on the market, the custom cabin at 246 Highway 1 cited just south of Point Lobos went into contract with a list price of $3.63M.
Quail had no new sales to report, but the area recorded two closed escrows: a partially updated 1970’s-built home on Valley Greens Circle for $2.06M (off market; 1.5% discount from list price), as well a two-bedroom home with a comfortable floorplan backing the golf course on River Place (3 days on market; closed for $1.881M – 1.5% off asking price). This region continues to experience low days on market and a tight margin between list and sale price.