With beautiful, warm, clear weather and an evening chill of Fall, locals are experiencing our favorite time of year on the Monterey Peninsula. It was a steady week as far as market activity with four closed escrows and 9 new sales in our subject regions. The bottom of the market was busiest as far as closings with only 1 sale surpassing the $2M mark; 3 of these sales were in Carmel, 1 in Pebble. The bulk of new escrows also occurred in the $1M-$2M price bracket. We hope you have an opportunity to watch the sunset or swing by the pumpkin patch this weekend! As always, a few updates from the week below:
The 3 closings in Carmel this week all clocked at under $2.5M: an English cottage in the Golden Rectangle which sold for 7.5% off list price at $2.4M after 2 weeks on the market, a cozy remodeled cottage in NE Carmel which sold for $1.0835M (5.7% off list price, DOM = 175), and a home of similar age/style/location on a busier corner for $925K (7.2% off list price, DOM = 18). There were 2 new sales to report, one of which was a historic home on 8th and Scenic in need of major renovation listed for $4.3M – worthy of note, this listing had multiple offers and was only on the market for 1 week. The other new sale was a comfortable remodeled home near River School on the market for 4 days listed for $1.399M.
There was 1 new sale in Quail Lodge: a remodeled modern single level home on the 15th fairway listed for $2.05M, which was on the market for less than a week. The Preserve had a silent week.
No activity to report in Carmel Highlands/Carmel Meadows this week.