As I ran down Bird Rock this morning, in the Country Club West area of Pebble, I couldn’t help thinking how fortunate we are to experience such an incredible area. I grew up in Carmel Valley, going to the Beach Club with my mom and dad when sunny days permitted, but as I ran along 17 Mile, watching the waves in the fog today, I couldn’t have felt more blessed. What a special place! Each of our magnificent areas, whether 85 degrees in the Valley sun, or 60 along the beach in Carmel or Pebble Beach, offers something so unique to that specific area, that I am constantly falling in love with each of them on an ongoing basis. In any case, I am feeling grateful today.
This past Sunday marked the final day of our area’s most popular event, Concours Week here on the Monterey Peninsula. We had a successful office party at our main office on Lincoln between 7th and Ocean Avenue, on Tuesday, and then various other events, including the McCall’s event at the Monterey Jet Center, the “Quail” on Friday at Quail Lodge in Carmel Valley and the Concours Italiano out at Black Horse Bayonet Gold Course in Marina, the Historic Auto Races on Saturday at Laguna Seca Raceway, and finally, the Creme de la creme of the week, the Concours d’Elegance on the 18th hole at the Lodge at Pebble Beach. What a fantastic time we all had. We did not have much business during this time because, contrary to popular belief, the car fanatics that are here during this time generally wait until a later date to return to the Peninsula to look at real estate (which is fine with me as I am one such fanatic). All in all, however, excellent exposure for our area to a slough of new future buyers.
July was a great month for my team and me, followed by what is looking like another solid month. This Sunday, we have gorgeous new construction home in downtown Carmel-by-the-Sea coming to market at $2.099M. This property has filtered ocean views, a luxurious master bathroom and all the amenities. While using the highest quality marketing materials and photos, we have also had our video team into the property to take a video, which we have edited with voice over to release to our local broker network, the internet and our Luxury Real Estate affiliates network for maximum exposure.
Our local real estate market is hot! We have active buyers all over the place, coupled with a resulting lack of inventory. This can equate to a lot of frustration and some additional price increases. While you won’t necessarily get an outlandish asking price for your property, now is a great time to be a seller. If you’re a buyer, jumping quickly on an opportunity can turn the tide in your favor. As they say, strike while the iron is hot! Interest rates have stayed about the same for the past few months, hovering right above 4% for a 30 year fixed rate.
As always, if you know someone who is considering buying or selling a home, please give me a call. I will provide superior service, in-depth market knowledge and thoughtful guidance through the entire process. Please scroll down for the market breakdown by area.
Carmel real estate inventory is currently at 125 available homes, with closed transactions up from last month at a total of 32 during the month of July, ranging from $399K to $5M.
Pebble Beach real estate inventory is currently at 77 available homes, with closed transactions up from last month at a total of 11 during the month of July, ranging from $796K to $3.65M.
Carmel Valley real estate inventory is currently at 85 available homes, with closed transactions staying exactly the same at 16 for the month of July, ranging from $156K to $1.3M.
Carmel Highlands real estate inventory is currently at 23 available homes, with no closed transactions last month.
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.