We hope you had a happy 4th of July and are rolling into a fun weekend. Saturday, head over to the 18th Annual Monterey Beer Festival at the Fairgrounds for a variety of 80+ brews, tasty local food vendors, and live music in our own backyard. Tickets are $45 in advance or $50 at the door (or $65/$75 for VIP) and the event runs Saturday 7/6 from 12:30-4:00 PM. Please visit www.montereybeerfestival.com to purchase and have a fun, safe weekend. Below please find a recap from our local real estate market – we had 6 new sales and 6 closed escrows in our subject regions. Cheers!
Canning Properties Group is honored to represent the sellers and buyers of 56 Spanish Bay Circle, a beloved and meticulously maintained end unit overlooking the golf course which offers convenient proximity to amenities and services at Spanish Bay. This condominium sold for $3.025M, a 5% discount off list price, after 3 months on the market. The 2 new sales in Pebble this week consisted of a dated ranch style fixer opportunity in Country Club East which was on the market for just 2 days (list price: $1.22M) and a renovated 1950’s build in the Upper Forest listed for only 1 week (list price: $9499K).
Of the total activity, Carmel accounted for most of the movement this week reporting 4 closed escrows and 3 new sales. Closings included a traditional new build on a large lot in Hatton Fields (sale price: $2.887M, 8% off most recent list price or 17% off original list price, DOM = 126), a partially remodeled Mid-Century home just north of the Carmel Mission on the market for less than 2 weeks (sale price: $1.67M, 1% discount off list price), a tiny 1 bedroom/1 bathroom teardown in Carmel Point (sale price: $1.23M, 12% off list price, DOM = 35), and a vintage cottage ready for updating in the Golden Rectangle which was on the market for roughly 8 months (sale price: $1.2M, 4% off most recent list price or 14% off original list price). New sales consisted of a recently built home across the street from Sunset Center and less than 2 blocks from town (list price: $3.145M, DOM = 217), a newly remodeled turnkey home in the Golden Rectangle (list price: $2.895M, original: $3.095M), and a charming vintage home in Carmel Point which was only on the market for 4 days (list price: $1.85M).
Quail Meadows and the Preserve rang in activity this week, with 1 closing in the Meadows and 1 new sale in the Preserve: a family compound on over 5 acres in the Meadows sold at $3.75M (12% off most recent list price or 24% off original list price) after 14 months on the market and a Mediterranean near the 13th Fairway in the Preserve went into escrow with a list price of $5.295M (original list price: $5.5M, DOM = 433).
