Today marks the longest day and shortest night of the year – Summer Solstice. The sun is in peak position in the sky, which occurs when one of the planet’s poles reaches the maximum tilt toward the sun. What does your midsummer celebration entail? If you’re interested in dinner, Alta Bakery in Monterey has a BBQ tonight and there’s a dinner at Cima Collina in Carmel Valley (both occurring at 6:30PM). Earthbound Farm has a free summer kickoff event involving flower and tree plantings, crafts, yoga, and food which is scheduled for Saturday from 11:00AM-4:00PM. We hope you enjoy a sunny start to the summer season! As always, below please find an update from our local real estate market – we had 7 closings and 8 new sales this week, reporting steady activity in our subject regions across the board:
Pebble Beach had 3 closed escrows and 1 new sale to note. The top of the market woke up with a sale above the $10M mark; after 3 months on the market, a newly constructed home with elevated views of Stillwater Cove and Point Lobos sold for 4.6% off list price at $11.446M. The other 2 closings were an estate overlooking the 16th green of Spyglass Hills, which sold for $2.995M after multiple price reductions and coming back on the market for 1 month, and a Ranch style home in Country Club West sold for less than 1% off list price after 4 days on the market (sale price: $1.39M). The lone new sale in this region was an 80’s-built Contemporary ready for a remodel located in a cul-de-sac with views of Spyglass (list price: $1.949M, DOM = 109).
Two closings in Carmel this week included an updated 90’s built 2/2 ½ in Carmel Point which sold for 6.5% off list price (sale price: $3.26625M) after 3 weeks on the market, and a vintage Mid-Century fixer on a large lot sold for $1.35M, which was 9.7% off most recent list price or 20% off original list price (DOM = 46). Canning Properties Group represents the seller of the top new sale in Carmel this week: a refined cottage with lush gardens perfectly appointed in a central location, which went into escrow with a list price of $3.475M (original: $3.525M, DOM = 300). There were 4 new sales in Carmel – an oversized updated vintage cottage equidistant from town/the beach (list price: $2.35M, DOM = 44), a newly constructed Contemporary/Comstock influenced cottage in NE Carmel which was on the market for 2 months (list price: $2.1M), a stylish custom Contemporary also in NE Carmel listed for less than 1 week with an ask price of $1.869M, and a remodeled Traditional style home on Highway 1 which went into contract with a list price of $1.299M (reduced from $1.495M) after 8 weeks on the market.
There was 1 closing and 2 new sales in the Highlands this week. A renovated 80’s-built home off San Remo sold off market for 8% off list price at $1.61M. New sales included an oceanfront home located in the gated community of Otter Cove, just past Yankee Point, which was on the market for 5 months and was reduced from $5.795M to $5.45M, and a spacious updated vintage home with panoramic ocean views perched atop Mt. Devon Road (list price: $2.525M, DOM = 51).
Canning Properties Group was honored to represent the sellers and buyers of one of our favorite homes in the Preserve this week, a stunning Mediterranean on 28 acres overlooking Potrero Canyon just a short distance from the gate and to town, which sold for $4.045M off market.