Month: March 2014

Week of 3/17 – 3/23 ~ Carmel Real Estate & Pebble Beach Real Estate

Slight uptick and some nice closings (a total of 6) for Carmel real estate last week. An over-sized European cottage on Casanova & 12th closed escrow for $3.5M. Couple others in the prime areas, including a well appointed, newer cottage on Lopez & 4th that closed for $1.65M and a dated home with good bones on Carmel Point at 2479 17th Avenue for $1.485M. Another 6 new pending sales, none of which were in the prime areas, but one of which was a nice remodel at 2798 14th Avenue near Carmel River School for an over-sized cottage w/ guesthouse from an asking of $2.795M. A newly remodeled home in the Northeast area at 24844 Dolores also sold from an asking of $1.495M  – and another interesting one – a vintage Carmel log cabin with main house and guest house at 24571 Guadalupe in the Carmel Woods area sold from an asking price of $1.1M.

4 closed transactions for Pebble Beach real estate last week- a big jump from the previous week. A nice single-level home and garden offering sold at 1403 Cantera Court for $1.85M and a French Provincial at 3150 Don Lane sold for $1.7M in the estate area. There were 2 closings on the Country Club side of Pebble; a contemporary at 1087 Mission Road for $950K, and an interesting mid-century two story at 3042 Lopez at $895K. Momentum in Pebble stayed the same with 3 new pending sales; a sale at 2877 17 Mile Drive for a newer view home overlooking Spanish Bay course and the ocean from an asking of $2.895M (this was the deal of the week, for sure), and a sale at 3974 Rhonda Road on the estate side from an asking of $1.799M for a larger custom home, were the most notable.

On course for a healthy Spring….

Cheers,

Ryan

 

Week of 3/10 – 3/16 Market Comments ~ Carmel Real Estate & Pebble Beach Real Estate

Carmel real estate picked up the pace last week with 5 closed sales, most notably New England style cottage in the Golden Rectangle on the corner of San Antonio & 11th for $2.05M, with 2 beds and 2 baths, and a peek of the whitewater. Other interesting sales were a slightly over-sized vintage Carmel cottage closed on San Carlos & 13th for $1.2M, and a stunning remodel on a private knoll and surrounded by mature oaks in the Carmel Hills area accessed behind Carmel High for $1.1M. Major takeoff for Carmel with a total of 10 new sales, most notably a resale that fell out of escrow in the last week or two and went back under contract this week, at 26334 River Park Place near Carmel River School for a custom craftsman home at a list price of $2.15M. Since this home is outside of the Rectangle and the Point, and relatively close to the elementary school, the list price and quickness at which is went under contract is very indicative of the upward momentum of the market. There was also a sale at Monte Verde & 13th for a over-sized, well kept custom home at a list price of $2.095M.

Only a single closing for the Pebble Beach real estate market last week, at 1272 Padre Lane at $3.33M for a large floor plan and big views with excellent potential. Pebble picked up just a bit with 3 new pending sales, all of which were on the North side, and most notable of which was at 1050 The Old Drive for a modestly sized, remodeled classic Pebble Beach single level home from an asking of $1.375M. There was also at 4021 El Bosque Drive for an older but well maintained flat-roofed home at an asking of $1.15M, and a dated home at asking of $719K at 2967 Sloat Road.

Feeling some solid push in the Carmel market…….

Cheers,

Ryan

Week of 3/3 – 3/9 Market Comments ~ Carmel Real Estate & Pebble Beach Real Estate

This week’s numbers paint a pretty good picture of where things are heading for Carmel this season. While closed transactions were down to just 1, new sales jumped up in our Carmel real estate market to 9. Our single closing was in the Carmel Woods area on Santa Fe & 2nd for a nicely finished home at $1.6M. Of the 9 new sales, the most notable was a sale on Scenic & Ocean, just inside the Golden Rectangle, from an asking of $2.895M (some ocean views) and an oversized Carmel Point Cottage at 26138 Camino Real from an asking of $2.295M. Other sales included Lobos & 4th from an asking of $1.9M for an oversized artistic home, a smaller Carmel cottage on Torres & 10th from an asking of $1.196M, a Carmel Views home at 24800 Outlook Drive with Point Lobos Views from an asking of $1.195M, a mid-century home in the Hatton Fields area at 75735 North Mesa Drive from an asking of $1.125M, a good looking cottage in the Carmel Woods area at 24623 Upper Trails from an asking of $995k, another Carmel Views home at 26085 Dougherty Place from an asking of $729K and finally a small Carmel Woods cottage by Highway 1 at 24535 South San Luis Avenue from an asking of $452K.

Pebble Beach real estate showed a similar change in momentum with 3 closed transactions, and then a jump to 5 new sales. My favorite of the closed sales was an estate-style home between Spyglass and MPCC courses, and overlooking the 14th and 15th tees of MPCC, at 3189 Bird Rock Road for $2.5M. There was also a closed sale at 1555 Viscaino Road at $2.01M for a gracious gated estate with no views, and a well kept ranch-style home with an ocean glimpse and some decent perspective sold in the Spanish Bay area at 2872 Oak Knoll Road for $1.195M. Of the new Pebble Beach sales, the most notable was an architectural masterpiece with big ocean views in the Macomber Estates at 3235 Macomber Drive from an asking of $12.8M. An interesting contemporary offering near the Lodge just off 17 Mile Drive also was a new pending sale from an asking of $2.85M at 1545 Venadero Road. There was also a new sale at 2930 Bird Rock Road in the Country Club East area from an asking of $2.595M, 1403 Cantera Court from an asking of $1.995M and a home at 1135 Mestres Drive (also in the Country Club East area) sold from an asking of $1.265M.

It’s getting more competitive out there!

Cheers,

RM

February Market Update ~ Carmel Real Estate / Pebble Beach Real Estate

We’re fast approaching the home stretch for tax filing dates, and we here in the real estate industry are starting to see things pick up as a result. More would-be buyers now know how much they can spend on real estate, and they’re ready to take advantage of the upward momentum of the Carmel and Pebble Beach markets. As we saw towards the end of last year, the high end finally began to take off, and we’re now seeing what may be the continuation of that trend as we move into the 2014 Spring selling season.

Below is my February Carmel real estate and Pebble Beach real estate market update. As always, if you or someone you know are thinking about buying or selling, please contact me. Here’s to getting a little more rain this month! We need it. And don’t forget, next month is the Pebble Beach Food & Wine!

Cheers,

Ryan

Carmel Real Estate

Carmel real estate housing inventory dropped a little this month from 124 to 116 available homes. Closed transactions jumped from 14 to 23. Depicting a trend I’ve been seeing more and more of, the high end of the Carmel real estate market was represented by Carmel Point in the top 3 highest sales of the month; a new Mediterranean on Valley View Avenue for $3.1M, a contemporary ocean view home on Bay View Avenue for $3.685M and a gorgeous, new French chateau-style home on 17th Avenue for $3.575M. Only 2 closed sales in the Golden Rectangle last month, both on Carmelo & 12th for $2.395M and $1.797M, respectively, but plenty of action around the $1M to $2M range to keep us moving healthily along. There were 22 new Carmel real estate pending sales last month, 5 of which were in the Golden Rectangle, and the highest of which was on Casanova & 12th from an asking of $3.65M, for an oversized European cottage.  Other sales of note were a sophisticated new build with an upstairs ocean view on Bay View Avenue from an asking of $3.5M, a 2bedroom New England cottage on San Antonio & 11th with an ocean peek from an asking of $2.195M and a 1929 Craftsman-style cottage on Monte Verde & 5th that sold from an asking of $1.995M in 20 days. There were no raw land sales of any kind.

Pebble Beach Real Estate

Pebble Beach real estate housing inventory stayed exactly at the previous month’s number at 61 available homes. Closed transactions more than doubled to a total of 14, with a whopper closing of the Chappellet oceanfront estate just North of the Lodge for $16.5M- a property that had been on the market for about a decade. Closings of note were on Kingsley Court in the Macomber Estates for a 10,000 sq ft home of architectural note on 10 acres with no views for $4.5M,  a beautiful 4 bedroom ocean view home on 17 Mile Drive on the North side of MPCC’s shore course for $4.442M and a dated but large home on the prestigious Riata Road just up from the Lodge for $2.35M. Pebble Beach Real Estate cooled off a bit last month with 7 new sales, the most notable of which were a view home on Padre Lane from an asking of $3.975M and a moderately sized French Provincial home on Don Lane from an asking of $1.986M. There were no raw land sales of any kind.

Carmel Valley Real Estate

Carmel Valley real estate  housing inventory rose ever so slightly to 83 available homes. Closed transactions also rose slightly to 14 for the month of February. Sales of note were on Valley Knoll Road, just outside of the Quail Meadows area, for a captivating Charles Rose contemporary for $1.847M, an exquisite golf club-style contemporary on River Place on the Quail Lodge golf course for $1.899M and a gracious home on Prado Del Sol for $1.524M.  New Carmel Valley real estate sales dropped by just 1 this month, to a total of 12. Most notable was a large, sophisticated European heritage home on Quail Meadows Drive from an asking of $3.695M, a Quail Lodge course home on Valley Greens Circle from an asking of $1.825M and a newly renovated Mediterranean compound on Middle Canyon Road from an asking of $1.695M. There was also some good movement in the Village and the 55+ and over condo communities. There were no closed raw land sales, however there were 4 new land sales, most notable of which was a 40 acre equestrian property at the back of the Santa Lucia Preserve that went under contract from an asking of $425K.

Carmel Highlands Real Estate

Carmel Highlands real estate housing inventory fell by 1 to a total of 28 available homes. While there were “0” closed transactions in February, there were 2 new pending sales; one on Highway 1 for a dated Spanish style home with dramatic ocean views, hanging over the cliff on the ocean side of the highway, from an asking of $5.9M, and the other on Yankee Point Drive for a beautiful, single level oceanfront home of some size, from an asking of $5.495M. There were no raw land sales of any kind.

Current Mortgage Rates

30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 4.37 % 3.39 % 3.05 % 2.52 %
Fees & Points 0.7 0.7 0.5 0.4

 

Upcoming Local Events

3/1/2014   Carmel Jewish Film Festival
3/7/2014   Sunset Center Presents AIley II Dance Company
3/8/2014   The Once and Future Landscape
3/13/2014   Keller Williams Green Vendor Fair
3/14/2014   Catalyst Quartet
3/14/2014   Catalyst Quartet
3/15/2014   An Evening with Albert Paley
3/15/2014   Master-highlighting Event
3/15/2014   Traditional Celtic Music by Reel Deal
3/20/2014   Paninting Demonstration with Erin Lee Gafill
3/20/2014   Meet the Artist: Erin Lee Gafill Talk and Slideshow
3/21/2014   Dr. Dolittle, Jr
3/21/2014   Monterey Symphony presents “Insight”
3/21/2014   Monterey Symphony presents “Insight”
3/22/2014   Monterey Symphony presents “Insight”
3/23/2014   Monterey Symphony presents “Insight”
3/23/2014   Central Coast Fly Fishing to Teach Fly Fishing Essentials Demonstration at the Historic Holman Ranch
3/27/2014   Relais & Châteaux GourmetFest
3/28/2014   Smuin Ballet: XXTREMES
3/29/2014   Smuin Ballet: XXTREMES
3/29/2014   Comics for Kids

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

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.
Photography and Design Copyright Ryan Melcher. All Rights Reserved. This website may not be reproduced or transmitted in any form without the consent of the publisher.
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