Month: April 2014

Market Comments ~ Week of 4/21- 4/27

I apologize that I was unable to write my weekly comments last Monday. Here are my comments and the activity from last week-

Carmel had a total of 4 closed transactions; I continue to see the higher prices captured on Carmel Point, versus the Golden Rectangle. We had a closing for $3.3M on the backside of Carmel Point (not even the prime Point area) at 26276 Camino Real, which was a meticulous home of over 2600 sq ft with a light and bright, opened floor plan. A new construction, traditional design also sold for $2.575M at 2798 14th Ave, just around the corner from Carmel River School and the Carmel Mission Inn. We also had some action in and around the Carmel Woods area. Nothing in the Rectangle.  6 new sales in Carmel, 5 of which were in the downtown area. A slightly over-sized custom craftsman sold from an asking of $2.95M at Lincoln 4 NE Santa Lucia, with a small peak of the wetlands. A beautiful, ocean view, new-build with high ceilings and lots of light sold from an asking of $2.175M. There was a new spec that brought the market up in the South East area, and a couple of rustic cottages sold in the Northeast and Northwest areas.

Pebble Beach closed 3 sales last week with 1 on the estate side. Really interesting, heavy construction contemporary sold on Venadero for $2.65M. 2 new sales both in the Central Pebble Beach area; a borderline tear-down with ocean views on Rhonda from an asking of $1.737M, and a contemporary on Spyglass from an asking of $2.295M.

Market Comments ~ Week of 4/7 – 4/13

There were 7 closed transactions in the Carmel real estate markets last week, most notably a sale at Scenic 7 SW of Ocean for an older Carmel cottage with a split level floor plan and some ocean views for $2.7M. There was also an off-market sale at 26070 Ridgewood Road for a finished home in the Mission Trails Park area for $2.395M, a slightly undersized, remodeled home at Casanova 3 SE of 4th sold for $1.675M, a home in the High Meadows area East of Highway 1 sold for $1.165M, a view home at 24800 Outlook Drive sold for $1.05M in Carmel Views, a remodeler’s dream sold for $940K directly across the street from the Carmel Mission at 3009 Lasuen Drive and a sort of “Bohemian style” multi-unit, terraced property in the downtown area at Dolores 3 NW of 4th for $950K. The markets seem to be taking off with tax season coming to a close- as of this time there are 11 new pending sales from last week, most notably a large, high-end new construction home at 2992 Franciscan Way with gorgeous views over the top of Carmel Mission (no ocean views, however) from an asking of $3.595M. Other new sales of note in the prime markets were a smaller, rustic Carmel cottage on an over-sized lot at Camino Real 3 SW of 12th from an asking of $1.795M, and a very small but well placed 2 bed, 1 bath cottage at 9th & Monte Verde in the Golden Rectangle from an asking of $1.295M.

There were 3 closed transactions in the Pebble Beach real estate markets last week, most notably a sale at 2930 Bird Rock Road for a French Country home on the 3rd hole of the MPCC Dunes course at $2.2M. There was also a closed sale at 1056 Sawmill Gulch Road for a newer design at $1.65M, and a small mid-century basic in the Country Club East area for $799K at 2993 Sloat Road. As of now, there are only 2 new pending sales in Pebble from last week; a sale at 1440 Lisbon Lane at an asking of $1.575M and a nice remodel at 3065 Strawberry Hill Road from an asking of $1.499M.

Carmel & Pebble Beach Market Comments ~ Week of 3/31- 4/6

Carmel Real Estate

4 closed transactions in Carmel last week; there was a sale at Monte Verde 2 NE 13th for an over-sized cottage, slightly dated but a nice design and floor plan for $1.975M, another over-sized dated sale at Carmelo 4 SW of Ocean with a pool for $1.8M with a quirky floor plan, a sale at San Carlos 2 NW 9th (very busy street) for a much older, single walled construction cottage of standard size for $1.3M and a cute, slightly undersized “Quintessential Carmel Cottage” at Torres 4 SW 10th for $1.15M.

A bit of an increase in Carmel real estate new sale activity last week; there was a sale at 26276 Camino Real for a newer large, 4 bedroom custom home on the backside of Carmel Point from an asking price of $3.298M, a new construction, standard 1600 sq ft very custom cottage with views facing Carmel Valley of Fish Ranch over the old Odello artichoke fields sold almost right away from an asking of $2.695M,  a 90’s build Carmel cottage with a bit of old world charm and some great bay views sold at San Carlos 4 NW of 1st in the RLS lower school neighborhood from an asking of $1.845M, an over-sized Carmel Woods mid-century home with a sophisticated touch sold from an asking of $1.075M and a very small, older cottage at 24816 Santa Rita in the Northeast area sold from an asking of $680K.

Pebble Beach Real Estate

No closings in Pebble Beach, but we did have 3 new pending sales; a sale at 1032 San Carlos Road for a large, dated home overlooking the 2nd hole of the MPCC shore course from an asking of $1.495M, a sale at 4079 Los Altos Drive for a large, wooden home with guest house and no view from an asking of $1.2M and a sale at 1107 Mariners Way  from an asking of $995K for an eclectic but remodeled home near the PG gate.

March Market Report

Dear Friends,

Things are looking strong for the selling season this year. I’m expecting some nice price increases over the course of the Summer, as well as some heavy buying volume. Quite a few of you are headed to town after the April 15th tax filing deadline to look at properties with me. Normally, I see a strong influx around this time, as people have a better idea of how much they can afford to spend on a new home or vacation property. You are the ones that drive the prices up and keep our market healthy and a great place to invest, so thank you!

March carried over the nice momentum we had going in January, with a slight increase in trade activity. Most of the higher-end outside activity I am seeing in the market continues to come from the Bay Area (San Francisco, Silicon Valley, Marin, etc), Southern California (Los Angeles, San Diego, Santa Barbara, Montecito), Central Valley (agriculture), Texas and the Northeast Coast (Boston, NY, etc). We’re also experiencing a lot of new offshore activity from China, predominately focused on the Pebble Beach golf course areas. Much of the new inventory has been coming to Carmel and Carmel Valley, rather than Pebble Beach, as I can personally attest to with my next two upcoming listings in Carmel and Carmel Valley, respectively. I am also in the process of implementing some very targeted marketing to the aforementioned West Coast and East Coast areas, in an effort to greatly increase my qualified buyer pool for the benefit of my higher end sellers. I’m expecting this to bring my client’s properties maximum exposure to those more qualified buyers, versus the typical way of advertising only to the general, local public (which we also do).

I wish you all the best, and a stellar 2014 real estate season. Don’t forget to buy your tickets to the annual Pebble Beach Food & Wine next week. Below please view my March Carmel & Pebble Beach Market Report.

Cheers,

Ryan

Carmel Real Estate

Carmel real estate inventory is up from 116 to 125 available homes. Closed transactions ticked up from 23 to 24, with about half concentrated in the Prime areas of the Golden Rectangle and Carmel Point from about $1M to $1.5M. The Rectangle, the Point and Carmel Meadows picked up best in show last month with the top 3 highest prices. An enchanting European cottage sold on the Northeast Corner of Casanova & 12th for $3.5M, a sophisticated, if not eccentric, reversed floor plan with ocean views sold at 2465 Bay View Avenue for $3.4M and a dramatic, large ocean view craftsman sold on the East side of Highway 1 in the Carmel Meadows for $2.9M. Other closings of note were a charming Carmel pied-a-terre cottage just North of Ocean Ave at Monte Verde & 5th for $1.9M, a Carmel Point fixer-upper for $1.485M at 2479 17th Avenue and a vintage Carmel cottage in excellent repair on San Carlos & 13th for $1.2M. There are 24 new and currently pending sales from the month of March, most notably a home at Scenic 7 SW of Ocean from an asking price of $2.895M for a quirky 2 story floor plan but ocean views from a prime area not usually accessible in this range. Other new pending sales of note were a beautiful, over-sized Carmel Point cottage with Carmel Valley Views from an asking of $2.295M and a new construction, ocean view Tescher home on the corner of Lincoln & 5th from an asking of $1.95M.

Pebble Beach Real Estate

Pebble Beach real estate inventory is down from 61 to 58 available homes. Closed transactions fell here to a total of 10 for the month, with the most notable an excellent ocean view value at 1271 Padre Lane, just North of the Lodge for $3.33M. Also notable were a gracious but dated home sold at 3189 Bird Rock Road overlooking the 15th and 14th tees of MPCC for $2.5M and a big but slightly unfinished Viscaino Road estate with no views for $2.01M. New sales came roaring back last month from 7 during the previous month to 13 new sales and one in the very high-end in the Macomber Estates by world-renowned architect Cesar Pelli at 3235 Macomber Estates from an asking of $12.8M. A great value at 2877 17 Mile Drive for a beautiful home overlooking the white water and the Spanish Bay golf links was a new sale at an asking of $2.895M. Also of note were a new sale at 1545 Venadero in Central Pebble Beach for a very interesting 60’s contemporary made of thick concrete and sheets of glass from an asking of $2.85M and one at 2930 Bird Rock Road overlooking the 3rd fairway of MPCC course for a modestly-sized French country home from an asking of $2.595M.

Carmel Valley Real Estate

Carmel Valley real estate inventory numbers stayed the same at 83 available homes for the month. Slight rise in closed transactions from 14 for the previous month to a total of 15 for March. Most notable of the closings were an elegant remodel in the Quail Lodge development for $1.8M at 7032 Valley Greens Circle, a large remodeled Mediterranean styled to the 9’s just passed the Los Laureles Lodge and Bernardus Lodge at 43 Middle Canyon for $1.647M and an impressive new-build Mediterranean overlooking the Carmel Valley Village at 198 El Caminito Road for $1.45M. New Sales skyrocketed this month from 12 to 29 in Carmel Valley. This time of year I tend to see the Valley’s velocity pull way ahead of the other higher-end areas. Most notable new sales were a sale in the Preserve community for a gorgeously done Hacienda estate at 6 Rumsen Trice from an asking of $3.995M, a stately French country home in the River Meadows community at 8680 River Meadows Road at an asking of $3.195M and a Spanish style compound with never-ending pool and soaring views of Monterey just outside of the Bay Ridge community from an asking of $1.848M.

Carmel Highlands Real Estate

Carmel Highlands real estate inventory fell to 23 available homes. There was just 1 closed transaction at 98 Yankee Point for $6.7M which was an oceanfront architectural masterpiece cascading into the whitewater. There were 3 new sales in the Highlands, all of which were quite notable; a sale at 71 Highway 1 for a large, all-stone home above Gibson Beach (some Rock n’ Roll history to this property) at an asking of $4.5M, a sale at 42 Yankee Point Drive for an older, smaller and dated but uniquely positioned ocean front home from an asking of $3.495M and a Carmel Highlands estate home on the East side of the highway with ocean views and supreme privacy from an asking of $2.488M.

Monterey Highway 68 Corridor

Inventory here is at 57 available homes. There were 14 closed transactions for March, most notably a very large Mediterranean new-build in the Bay Ridge Community for $2.15M. Activity was up with 17 new pending sales, most notably a beautiful Bay Ridge home with South facing views at 11430 Saddle Road from an asking of $1.549M and a well appointed Pasadera Villa at 119 Las Brisas Drive from an asking of $1.149M.

Monterey Real Estate

Monterey real estate inventory is currently at 57 available homes. There were 14 closed transactions here last month, most notable of which were a mid-century modern home, freshly renovated with views of the bay at 5 Sierra Vista Drive for $949K and a estate home in Peter’s Gate at 750 Colton Street for $1.08M. Increase in activity here for the month with 21 new sales, most notably a sale at 11 White Tail Lane in the coveted Deer Flats area from an asking of $895K.

Pacific Grove Real Estate

Pacific Grove real estate inventory is currently at 45 available homes. There were 14 closed sales last month, most notable of which was perhaps a classic Pacific Grove cottage in excellent repair at 422 Pine Ave for $915K. 19 new pending sales for PG, the best of which was at 1142 Del Monte Boulevard for a custom stone home done to the highest quality and overlooking the Pacific Grove golf course and parts of the ocean from an asking of $2.695.

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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