Indian Summer Upon Us

  • Canning Properties Group
  • 10/12/18


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:

Pebble Beach had 1 closing and 6 new sales this week with most of the new sales below $1.7M. The closing was a remodeled ranch-style smart home near MPCC which sold for 3.3% off ask (sale price: $1.488M, DOM = 134). New sales included an extensively remodeled bungalow on the 1st fairway of MPCC’s Shore Course on the market for just 2 weeks (list price: $3.297M), a furnished Spanish Bay condominium unit overlooking the 12th fairway and tee of the Links course (list price: $2.975M, DOM = 190), an updated 70’s-built traditional style home on the Dunes course (list price: $1.695M, DOM = 188), a 90’s custom home in the Upper Forest region on the market for a little over 2 weeks (list price: $1.649M), a modern fixer also in Upper Forest on the market for over a year (list price: $1.295M), and a remodeled 1960’s-build in Country Club West (list price: $1.195M, DOM = 84).

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.

 

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With over 30 years of experience in the Pebble Beach and Carmel markets, they know the market – both the openly listed and discreetly available inventory. Together with their associates, they are uniquely qualified to offer the highest level of professionalism and service on the Monterey Peninsula.

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