Last week a small wave of new inventory began to hit the market in the Downtown Carmel area. About time, right! While the lower inventory numbers have been great for my seller's asking prices, many of my buyers have been forced to shelve their purchase goals for the time being. Now with this new wave of inventory, we should see more potential buyers reengage, and a rise in transaction numbers. Carmel...
2014
Carmel January is historically our slowest month for Carmel & Pebble Beach real estate. Last week Carmel gave us 3 closed sales, albeit all but one were in our lower price points. We did see a remodeled 3 bed, 3 bath cottage with a well manicured English garden close escrow on Guadalupe Street, just outside of city limits in the Carmel Woods area near Carpenter and Highway 1 for $1.26M. Carmel started...
Even with Carmel's velocity reduced due to many people bringing in the New Year with Friends and family, we still had 2 whopper closings last week; one on Shafter Way in the Hatton Fields estate area for $4.475M, and another on Isabella Ave on Carmel Point for $4.625M. Both homes were over sized for their respective areas, and each was meticulous in detail and repair. There were also 2 new pending sales;...
2013 marked an incredible turnaround in our Carmel and Pebble Beach real estate markets, and over the greater Monterey Peninsula and Central Coast as a whole. Price increases averaging around 15% to 30% were not uncommon, with parts of Silicon Valley and the Bay Area actually at values higher than 2006. For the most part, I didn't see the luxury market in Carmel and Pebble Beach hit quite those same...