After a two year drought of no ocean or golf front sales in Pebble, the frontlines comes alive in ’18 with fashion – 3 in escrow by 2Q and 1 closed early on in Q3. The rest of the market was mixed this week as Carmel held steady while the outlining markets in the Highlands and Quail areas stalled (zero activity in both regions). Sunny skies and warm weather for the weekend – hope everyone can get out and enjoy it. As always, a few highlights from the week below:
As mentioned, the apex of our market posted its first sale in over 2 years – a recently remodeled Contemporary near the Lodge, which closed off-market at $25.25M (16% off of List Price) after having sold for $28M in ’13. The other closed escrow included a Ranch style spec play on MPCC’s Shore Course, which sold for $2.26M (9% off of List Price) after being on the market for only 21 days. Worth noting the MPCC area continues to move at a steady clip. The top new sale is an off-market Mediterranean-style home with expansive SW ocean views on Ronda Rd with an ask of $9.8M. The other new sale is a teardown in the Country Club East area, listed at $885K – essentially dirt value.
Carmel had a steady week with 3 closed escrows and 4 new sales. The top closed escrow was a 20’s French Eclectic style home on an oversized lot in NE Carmel that closed for $2.22M (12% off of List Price). The other closed escrows included a 90’s contemporary style home in the SE are of the Golden Rectangle that sold for $1.75M (15% off of List Price) and a lot in NW Carmel that sold for $1.125M (Full Price) after being on the market for only 9 days. The top new sale is a 30’s traditional style home close to town on the NE corner of Junipero and 8th, listed at $2.299M. The other new sales include a 40’s ranch style home on an oversized lot in Carmel Point with distant views of the ocean and Point Lobos, offered at $2.295M; a remodeled Contemporary style home in Eastern Carmel Point near River School with an ask of $2.198M and an Adobe style home overlooking the Barnyard in Hatton Fields, listed at $1.35M
No news to report in the Highlands or Quail/Preserve areas.