It’s Always Quietest Before The Storm…

Carmel finally proved to us that it was, indeed, the holidays last week with zero, nada, closed transactions. It did however bless us with 3 new sales over the holiday week. I had a feeling this would be the case, indicated by the heavy buyer activity we were getting on either side of the big day- not a normal, annual thing. None of the 3 sales were in the high high end, but there was a sale of note on the South side of Santa Lucia near Camino Real, from a list of $1.585M. This was a very interesting, mid-century modern type of sophisticated, yet beach worn property. Surrounded in Cypress trees, it also boasted an incredible great room with double overhead ceilings and a fireplace fit for a manor. A very interesting piece. There was also a slightly larger than average family cottage on Lorca lane- a finished product with a well preserved exterior and yard- that sold from a list of $1.395M.

Pebble Beach had one closed escrow on Porque Lane, at $2.2M. On the smaller side for this area of Pebble, and an older with a light remodel, this home also had some views overlooking parts of Cypress Point Club and the ocean from a private hilltop. There was also 1 new sale in the Country Club area, under $1M.

They always say it’s quietest before the storm. Based on my reading, market knowledge and what’s happening up North in the Bay Area, I think in 2014 we will finally see some velocity in the high-end. Be safe tomorrow and here’s to an amazing 2014.



Holiday Hustle

I’m not sure how to explain it, but again for last week the market in Carmel continued to move. It seems buyers are clamoring to get a hold of something over the holidays (a stellar sign for next season). We had buyers looking nearly every day last week. .  It’s also great to see some of that seasonal tourism-driven traffic converting into new sales.

Of the 7 (yes, that’s correct, seven) closed sales in Carmel over the last week, 4 were downtown and 1 was in the estate area. One closed right outside of the Golden Rectangle on San Antonio, as you first venture onto Carmel Point, for $2.975M. This home was recently renovated, slightly larger for the area and boasted more than partial views of the ocean, in addition to great walk-ability to the beach. It isn’t surprising that it sold before ever making it to the open market. There was also a significant sale on Casanova & 8th at $2.2M for again a larger than average home, recently rebuilt and remodeled, and with (some distant) ocean views. Generally for the square footage and quality of a home in this area, homes command a slightly higher price, but this home had a bit of a dual living setup, something that isn’t quite as desired in this area of Carmel. New sales is where we finally saw a change of sale tempo. There were only 2 new sales in Carmel, 1 of which was downtown in the Rectangle on San Antonio & 10th from a list of $2.529M for a small, somewhat dated cottage with ocean views.

There were 3 closed transactions in Pebble Beach last week, the most notable of which was on the estate side on Viscaino for a nice sized home with partial ocean views for $3.25M. As for new sales, last week in Pebble gave us only 1 sale on Ronda Road from an asking of $1.8M- no views but some solid square footage in one of the estate areas.

After tomorrow morning, I’ll be hanging up the license for the next couple days and spending Christmas Eve celebrating with family and friends in Pebble Beach. My best and happy holidays to all of you.



Still Humming As We Near The Holidays

Carmel was rocking and rolling for this time of year last week with 5 closed transactions. Obviously, these were all prior sales, waiting to close, but it’s still nice to see. A gracious 4 bed, 5 bath home on Carmel Point – 26285 Valley View – closed at $3.8M. Another new construction home of 2,100 sq ft, with beautiful vaulted ceilings and lots of light, closed near the top of Carpenter Street for $1.725M. More indicative of the good year we’ve been having are the 4 new Carmel sales of last week. A great big 3 bed, 3 bath home on Carmel Point at 2498 17th avenue sold from an asking of $3.9M. Completely done to capture the Essence of Paris, this home reminded lookers of the late film, “Midnight in Paris”. A real gem. A nice 3 bed, 3 bath remodel just on the outskirts of the Golden Rectangle sold at an asking of $3.195M, with views of the ocean and just about 3 doors down to the beach.

Pebble Beach proved that it can stay in the game for this typically slower time of year here on the Peninsula, with 2 closed transactions, one of which was at 1251 Padre Lane, for a 4 bed, 6 bath estate style home with some ocean views. This week Pebble keeps up with Carmel with 4 transactions of it’s own, albeit they were all around $1M or under.

The Holidays Are Upon Us!

A lot of holiday energy in downtown Carmel last week. We had the annual Christmas tree lighting ceremony on Ocean Avenue, which is always a blast, and a great way to kick off the home stretch to the new year. While we’re still seeing the typical seasonal real estate slowdown, Carmel remains a prime holiday destination with hotel occupancy up and tourism remaining steady. We even have several out-of-town buyers headed here for the holidays- a good sign for next year.

Last week we saw some decent activity in downtown Carmel, with a total of 3 closed sales. The highest was at Santa Fe 4 SW of 3rd for $1.835M for about 1600 sq ft on a 4,000 sq ft lot. This represents the higher end of this pocket of Carmel, but with the curb appeal and lot orientation of the house, it was a great buy. There were also a total of 3 new sales, the highest of which was a 4,000 sq ft remodeled view home on Pradera Road in the coveted Carmel Meadows, from a list of $4.15M. This was not ocean front, but offered ocean views of Pt Lobos, Mission Ranch and Pebble Beach. The other two sales were downtown Carmel cottages listed at just under $1M.

Pebble Beach seems to have quieted first, as is typical this time of year. There was one closed transaction in Pebble Beach for $2M for a 4,000 sq ft home on Hawkins Way, which fronted on Spyglass golf course. There were no new pending sales.

November Market Update

Dearest Friends,

As we recoil from all the eating and drinking of last week, I cannot help but be thankful for all the special people in my life. We were fortunate to be visited by some family from back East, and take a much needed (half) week of relaxation from what was a busy and prosperous year. November brought with it the typical seasonal slowdown in Carmel and Pebble Beach, made more evident by Thanksgiving last week. That being said, tourism continues to be up from the few previous years, and buyers continue to look more for those good “off-season” buys. Forecasts for next year…..BIG.

Carmel saw a total of 15 closed sales, only 3 of which fell under the $1 Million mark. An oceanfront property on the Carmel Point portion of Scenic (26161 Scenic Drive) sold for $4.975M. It was an eclectic mix of “beachy” and “new age” interior design, with a nice curb appeal, a fire pit on the ocean side, and views down Carmel beach towards Pebble. Our office closed one on Carmel Point, as well- 26270 Valley View- for $2.15M. It was a 3 bed, 3 bath, very well appointed cottage, on one of the best streets on the Point- no ocean views. At the time of this report, there were 23 new pending sales in Carmel- fantastic activity for this time of year. There was a sale at 26443 Scenic Drive from a list of $6.995M. This was a beautiful new build, with a nice Carmel Stone facade in the front. I love to see the upper end and the Scenic Road area continue to move. We also saw some movement in the upper end estate area of Carmel, Hatton Fields, with a new sale  at 25530 Shafter Way. This was a 5200 sq ft “old world” home that had been extensively remodeled and restored. It reminds me of the residential in Montecito, CA, and is a great example of a true-to-form offering in this area of the market.

I always say that Carmel is the “bread and butter” of the market here in the Monterey Peninsula, and that rang true last month in Pebble Beach with only 6 closed transactions, the highest of which was a lovely 2200 sq ft remodeled cottage at 1025 Broncho Road, in the middle of MPCC golf club for $1.5M. All of the closings took place in the Country Club section of Pebble. At the time of this report, there were 11 new pending sales from list prices of $899K up to $6.498M at 1251 Padre Lane, for a  remodeled 5300 sq ft estate on about an acre and a half with ocean views. 1207 Padre Lane also went pending from a list  of $4.595M, as did 1525 Viscaino, on the estate side of Pebble, from a list of $3.5M with mild ocean views.

As a reminder, now is a great time for you, or someone you know that needs to sell, to begin the marketing process for next year. I appreciate and welcome any referrals. Enjoy the holidays!

All my Best,

Ryan Melcher

March Market Update

For March we saw the market gain a little more momentum on the Monterey Peninsula. Carmel and Pebble Beach maintained activity growth as we moved into Springtime. Nationally, we even saw the number of “underwater” homes (that is, homes whose market value are less than what is owed on the home) decline. We’re seeing a lot of strong indicators for a continued housing recovery on both the national level, and within our local markets here at home. The market is stronger than it has been in several years. We’re seeing a comeback in the high end, as well as a continued fury of demand in the lower and mid-ranges. We’re also witnessing what appears to be a move away from the “buyer’s market”, to which we’ve become accustomed, and a shift towards a more healthy, “seller’s market”.

Carmel made itself heard with 29 closed home sales in March, more than doubling the previous month’s activity. 6 of the sales were in the Golden Rectangle, and the highest price fetched was Scenic 5 SE of Ocean Ave for $3.2M with partial ocean views and very few days on market. Carmel is HOT.

Pebble Beach more than doubled production from the previous month with 18 closed home sales, and managed to put itself on the map again with a $22.5M sale last month near the Ghost Tree and just a short drive from the Lodge. We saw a couple of other high dollar new pending sales, including one at a list of $8.295 on Padre Lane with no real ocean views and having only been on market for 44 days. Truly remarkable the comeback we’re seeing in the local upper end of the market.

Carmel Valley increased activity yet again to a total of 20 closed home transactions. This area still seems to have the highest demand, yet the lowest inventory. This is perhaps what is keeping the number of transactions from flying through the roof. The highest sale price was Brookdale Drive for $1.75M for a 3300 sq ft house on an acre with a pool (no view). The Del Mesa and Carmel Valley Ranch condos were flying off the shelves.

The Carmel Highlands stayed steady with 4 closed home transactions, the highest of which being a large bank owned spec house on highway 1 in Big Sur with ocean views (land side of the highway). A somewhat eclectic design that spent a few years on market. All 4 transactions were over $1M and offer at least some ocean views.

Spring Selling Season is almost here!

We can feel Spring season coming upon us with reawakened interest in the high end markets! I’m hoping for more inventory to match demand. I myself have a 3 bed, 2 bath view home on Tierra Grande in the Valley coming to market next week. Expansive views in need of just a little updating. I expect it to sell rather quickly.

The downtown Carmel area picked up the pace last week with 4 out of 8 Carmel closings in actual Carmel-by-the-Sea city. One sale was at $2.4M for about 2600 sq ft on a slightly undersized lot, North of Ocean and on Monte Verde. A really nice, new build on Mission and 11th sold for $1.7M for 1600 sq ft on a standard 4000 sq ft lot. Only 1 new pending sale listed at $1.95M  on Camino Real and 4th, just about 2 blocks North of Ocean.

Pebble Beach saw 3 closed transactions- none on the estate side, but there was a huge one bedroom house of glass with guesthouse on Padre Lane that closed at $4.1M. Unique to say the least. There was only one pending sale in Pebble, also on Padre Lane, which was a dialed, large home right above the Lodge listed at $8.295M. There was one lot sale on Forest Lake Road on about an acre for $830K. We didn’t see the same activity in Pebble as we did in Carmel, but it still continues to show gains, as well as a notable turnaround in the high end.

A slower week for sales in Carmel Valley, but not for lack of buyers! Inventory remains incredibly low under the $1.5M range, with a lot of lookers! Only one closed sale last week, and it was in the 55+ area of Del Mesa. On the up side, even with the lack of inventory, Carmel Valley had 6 new sales, one of which was in Quail Meadows at a list of $2.195M.

Only 1 new sale in the Highlands on Oak way for a small cottage listed at $1.195M with peaks of the ocean.

Things are heating up!



February Market Update

February continued what is starting to seem like a tradition of low inventory here on the Peninsula. Buyer demand is high as we edge closer to the Spring selling season, and Washington’s fabled Sequester appears to have had little impact on the desirability of Carmel and Pebble Beach real estate. Lucky us! Most of our hardest hit, high-end areas have either firmed or ticked up in value over the last year. Please read on for your February Ryan Melcher Properties Market Update.

Carmel saw 14 closed transactions, only one of which (and the highest of which) was in the Golden Rectangle at Camino Real 3 SE 10th. This was a gracious 3 bed, 4 bath home of 2,725 sq ft on an 8,000 sq ft double lot on prime Golden Rectangle real estate, previously used mainly as a popular vacation rental home. Another partial ocean view home on Carmel Point closed at $2.25M for about 1600 feet on a 4000 sq ft lot. There were no closed land transactions.  As of the date of publication of this report, there were 22 pending February transactions, so one can see activity taking quite a step again for the Spring season. The highest of the pending saless was the “Casa Paraiso” compound on Mission and Santa Lucia, which is listed at $5.1M. This was a 2892 sq ft, 5 bed, 5 bath home on a 12,000 sq ft triple sized lot.  There were 2 pending land transactions; one at Casanova & 13th for a 4000 sq ft lot listed at $995K, and another very small 2000 sq ft lot at 8th & Junipero from a list of $550K.

Pebble Beach had 7 closed transactions, all of which were below the $1.5M mark. A nicely done home about 2700 sq ft on Birdrock road sold for asking at $1.449 in under a month, with partial views of the course at MPCC.  None of the sales were in the estate area of Pebble. There were no closed land transactions. There are currently 14 new pending transactions from February in Pebble, showing that activity has doubled from January. 3340 Ondulado Road went pending near the Lodge at a list of $6.695M This was a 4 bed, 5 bath, very nice estate home of 7,900 sq ft on about an acre and a half. An interesting new sale was a single bedroom, 7000 sq ft home at 1495 Padre Lane from a list of $4.6M. A large, 1 bed, 1 bath guest house was also included in the sale.

Carmel Valley yielded 13 closed transaction, the highest of which was in the Quail Lodge area on Valley Greens Circle for a somewhat recently renovated 2,553 sq ft 3 bed, 2.5 bath home, and a total of 2 closed sales in Quail Lodge. We also saw the usual movement in the Carmel Valley Ranch condo area, as well as the Miramonte area by the Grade and of course our own native “Napa”, the Carmel Valley village area. A 55 acre lot sold on Vista Cielo in the Preserve for $1.75M. Existing pending sales from February total 19, and range from list prices of about $700K up to $2.295M, spread fairly evenly throughout that Spectrum. The Valley has been the strongest seller of my four main markets over the past year, and we see a slight uptick yet again for February. A nice ranch style home of about 3300 sq ft on an acre with a pool went into pending status from a list of $1.875M after about 4 months on the market. We also saw a lot of the older inventory go into escrow. One 109 acre parcel out past the Village went pending from a list price of $1.295M, after sitting on the market several years. Good signs!

The Carmel Highlands saw the highest dollar sale for Carmel and Pebble for February, on Aurora Del Mar, just a few minutes past the main Yankee Point / Spindrift areas, for $3.6M after only 50 days on market, and from a list price of $4.3M. This was a 4 bed, 4 bath, about 3,500 sq ft home on an acre hanging over the ocean at almost water level! The Highlands continue once again to be Carmel and Pebble’s best bang for your buck in ocean front real estate. There was also a small, dated fixer for $1.2M up in the hills with great views. There was one ocean view lot of about an acre sold over looking Otter cove and Yankee Point and on the East side of the highway. Activity appears to have doubled in the Highlands from January, as there are currently a total of 4 pending transactions originated during February. A nice 5700 sq ft home on 2 acres on Spruce Way went into escrow at a list of $4.5M and a bank owned home with about 6700 sq ft on 6 acres and sprawling ocean views above highway 1, and just a bit South of the Highlands, went pending from a list of $4.25M. There are no pending land sales.

Market Update for week of 2/18 – 2/24

Life here on the Monterey Peninsula slowly got back to normal last week. AT&T golf week brought the usual crowds and excitement, and with it a healthy spike in activity after a quieter January.

There were a total of 3 closed transactions in Carmel, none of which were in the Golden Rectangle, an area where we’re seeing a firmer market and a severe lack of inventory. Two, 2 bed/2 bath cottages sold just under a million, and one 1 bed/ 1 bath condo closed for $525K. There were 5 new pending transactions- again none in the Rectangle, not for lack of prospective buyers. The Casa Paraiso compound on Mission and Santa Lucia went under contract from a list price of $5.1M. With a 12,632 sq ft lot, the newly renovated 2,892 sq ft house sits on a triple sized lot surrounded by high walls and gates. Quite the in-town treasure.

There was only a single closed sale in Pebble Beach last week, on El Bosque Drive for $1,070,000, which was a good sized house for the price, and sold 2 weeks after coming to market. It was a busy week with 5 new pending sales. A fairly good sized home with sweeping views sold on Sunridge on the estate side of Pebble from a list of $3,250,000. A 4,600 sq ft fairway home on Quarry Road by MPCC sold from a list price of $1,995,000. An interesting Spanish style hacienda also went pending on Trappers Trails at $1.7M.

Again, we saw only one closed sale in Carmel Valley on Paso Hondo Road for $715K. This was about 2400 sq ft on an 11,000 sq ft lot. We can see the spike in activity again, as we get closer to March, with a total of 4 new sales in the Valley. An exceptionally built view home on Via Milpitas in the Village area sold from a list of $2.295M, with 6,300 sq ft on about 5 acres. The valley continues to be in high demand with it’s increasing prices.

There was one closed transaction in the Highlands on Mal Paso Road for $1,212,000. This home was about 3,500 sq ft on an acre, and dated but with nice views offering some potential as to a remodel. Again new sales spiked in the Highlands last week with 4 new sales, which says a lot considering the small area it comprises. Buyers are still rushing to take advantage of some of the most affordable waterfront and ocean view deals in Carmel. A big home on Spruce Way went pending at $4,500,000 list price, and a bank owned property in the hills above highway 1, again with big ocean views, went under contract from a list of $4,250,000.

So far this week, crisp weather and clear skies. We can feel the market gearing up for a strong selling season.

Please Note: While delighted to respond to real estate related inquiries, Ryan is not particularly interested in being contacted by persons with a specific interest in any “celebrity” affiliations.
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