February Market Update

 

Dear Friends,

 

Our market appears to be taking off again for the Spring season. Some real movement in the high-end over the past couple of weeks seems to show a continued sense of faith in our local markets from cash buyers willing to spend the big bucks; the stuff in the $1M and $2M ranges continues to move, as well.

 

The AT&T Pro-Am golf tournament last week was a big draw for crowds around the world. The weather was amazing about 98% of the time, and I met several potential new clients that couldn’t believe what sort of place we all call home. Events like AT&T are the best marketing tool we have, and the reason our properties here are such well insulated assets. If you weren’t at the event, it was a real nail biter- Phil Mickelson carried the lead at the end, where he was tied for first place on the 18th hole of his last round, and missed an easy put putting him in second and leaving the tournament win to Vaughn Taylor. Unbelievable!

 

Real estate-wise, over the course of the tournament, there were a couple of larger sales; a new pending transaction at the corner of Ocean View Ave and Scenic Road on Carmel Point went under contract from an asking of $12,750,000. There was also a closed transaction earlier this week, in Carmel-by-the-Sea, on Scenic Drive & 8th area for $8.9M, one on Rhonda Rd on the estate side of Pebble Beach for $9.7M, and another on Scenic Road on Carmel Point a couple of weeks closed at $10.2M after having gone into escrow less than 2 months after being listed. When the upper end moves, you know the lower end will move.

 

Lastly, interest rates are still under 4% and market indicators are saying if you’re going to be getting ready to sell, this year will yield you the most for your house. Give us a call so we can start helping you prepare and run you through our numerous new advertising platforms. Now’s the time!

 

Cheers and thank you for your continued support. Please scroll down for your January market statistics.

 

Best,

Ryan & Team

 

 

 

Carmel Real Estate

 

Carmel real estate inventory is currently at 108 available homes, with 23 completed single-family residence transactions during the month of January.

 

Pebble Beach Real Estate

 

Pebble Beach real estate inventory is currently at 70 available homes, with 7 completed single-family residence transactions during the month of January.

 

Carmel-by-the- Sea Real Estate

 

Carmel-by-the-Sea real estate inventory is currently at 13 available homes, with 4 completed single-family residence transactions during the month of January.

 

Carmel Highlands Real Estate

 

Carmel Highlands real estate inventory is currently at 11 available homes, with 1 completed single-family residence transaction during the month of January.

 

Carmel Valley Real Estate

 

Carmel Valley real estate inventory is currently at 46 available homes, with 6 completed single-family residence transactions during the month of January.

2015 Recap and January Newsletter ~ Carmel & Pebble Beach

Dear Friends,

 

Happy New Year! We hope that 2015 treated you as well as it did us. I personally spent New Year’s Eve here in town, and opted to forego the craziness of skiing in the Sierra’s, as almost everyone and their mother seemed to be chasing the heavy snow. On the subject of weather, we’ve been getting sufficient rain here in Carmel the last month, plus. We have the AT&T Pebble Beach golf tournament coming up in early February, which in many recent years has been a showcase of our heaviest weather, but in my opinion, more fun the more it rains. I used to donate my time as a kid to the tent on the 14th fairway of the main Pebble Beach course- the big concession stand that local dentist, Ron Faia, used to run every year. The wind and rain used to beat so hard on the tent that we thought it was going to come out of the ground! We were hawking hot dogs, Heineken and stogies while our lives hung in the balance…….and loving every minute. While we look to finally have a rainy season on our hands, we’re just starting to see new movement in pending sales and listings for the year, and AT&T is still great exposure for our area to potential buyers- something to keep in mind while timing any upcoming listings.

 

Marketwise, 2015 was another year of gains, nationally, with the average sales price being up over 6%. And while sales velocity dropped some from the previous year, Carmel and Pebble Beach average sale prices were both up the 4th quarter of 2015 from the same period 2014: Carmel markets (including Carmel-by-the-Sea and Carmel Highlands) up to $1.55M from $1.44M average the year before, and Pebble Beach up $2.27M from $1.56M, which is somewhat misleading as the median price there only jumped a little over $100K from the previous year, but illuminates that the high-end there took off as a whole in 2015. Carmel Valley was up to $874k from $763k for the 4th quarter the previous year. Interest rates hiked recently to about 4.25% for the 30 yr fixed, and then earlier this week dropped back down to about 4 flat- a nice reprieve to keep the local market humming along, albeit the majority of our transactions are cash in some form.

 

We had a stellar 2015, beating out many of the competing luxury agents and teams in the high-end, which has everything to do with our loyal friends and clients, to whom we are so grateful and will always be available to at the drop of a hat. We also moved into the main flag office for David Lyng Real Estate on Lincoln Street, just South of Ocean Avenue in downtown Carmel-by-the-Sea. We now have a meeting room adjoined to our team’s office and are ready to take on more volume next year. For 2016 we have several new marketing video and social media tools in place, as well as having been welcomed into a couple of new luxury real estate networks. We are ready for you!

 

Yet another amazing year on the books. Thank YOU.

 

Cheers,

Ryan

As always, please think of us if you or someone you know needs representation. Please scroll down for market activity breakdown by area.

 

 

Carmel Real Estate

 

Carmel real estate inventory is currently at 107 available homes, with 36 completed single-family residence transactions during the month of December.

 

Pebble Beach Real Estate

 

Pebble Beach real estate inventory is currently at 54 available homes, with 11 completed single-family residence transactions during the month of December.

 

Carmel-by-the- Sea Real Estate

 

Carmel-by-the-Sea real estate inventory is currently at 13 available homes, with 4 completed single-family residence transactions during the month of December.

 

Carmel Highlands Real Estate

 

Carmel Highlands real estate inventory is currently at 9 available homes, with 1 completed single-family residence transaction during the month of December.

 

Carmel Valley Real Estate

 

Carmel Valley real estate inventory is currently at 44 available homes, with 5 completed single-family residence transactions during the month of December.

 

 

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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