- Of the regions we cover, there were 14 Closed Escrows this week, representing a slight drop from last week’s total of 17 sales.
- Sales prices for the week ranged from $4.675M for a cottage style home with ocean views in Northwest Carmel to a $558K unit in the Del Mesa complex in the mouth of the Valley.
- This brings the total investments for the week to $31.8M – down from last week’s total of $60.2M, where the market saw two sales in Pebble Beach above $10M.
- Average Days on Market for the week dropped down to 24.5 DOM – which is well below the previous week’s average of 66.5. This is in part due to some properties that were on the market for a prolonged period finally entering escrow. The market remains active across the board.
- There was a wave of new activity last week with 15 new sales – ranging from a $12.5M Colonial style home on the 2nd green of Pebble beach to a $1M unit in the Del Mesa complex.
- Negotiations remain very tight week-after-week with discounting hovering at or above list prices. Believe it or not, week, the average rose to 1.6% over list price.
Other Items in the news:
- After being in a stand-still for 3 years, the Rancho Canada Development passed a key milestone this week after the Appeals Court gave the project the green light to proceed.
- Aquarium is now open to the public!
- We are officially two weeks away from most of the COVID restrictions being lifted, which is great news for our local businesses as we enter our peak tourism season.