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:
Pebble Beach experienced a surge in activity with five new sales and five new escrows, continuing the hot streak in the $1.2-$1.8M range. After over a year on the market, a contemporary/modern/high-tech home in the Estates designed by Conrad Sanchez closed for 14% off list price at $5.3799M. The additional closings in this sub-region included: a contemporary Mediterranean near MPCC on the market for two weeks which sold for $1.85M, a remodeled ranch-style home in Country Club West closing 3.5% off list price at $1.775M, an updated 1970’s-built home with forest views closing for $1.5M, and another ranch-style home near MPCC on the market for just one week (sale price = $1.245M). There were five new sales in Pebble this week, all listed in the $1.3-$1.7M bracket. New sales this week included a re-constructed 1970’s-built traditional home with golf views with an ask of $1.695M, a remodeled ranch-style home on a large corner lot near MPCC listed for $1.6395M, a Country Club East contemporary on the market for 8 months with a sticker price of $1.495M, a dated home in Country Club West (off market listing, list price = $1.395M), and a Post Adobe bungalow with Shore Course Views on the market for just one week at $1.295M.
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.