We are at the start of the selling season! The annual Pebble Beach Food & Wine event kicked off earlier in the month, wherein foodies and wine lovers from all over the country, and the world, rushed in to satiate their appetites at the ultimate, star studded, culinary extravaganza. Celebs like Guy Fieri, star of “Diners, Drive-Ins and Dives”, dished out their favorite cuisines with all the right pairings alongside Pebble Beach’s famed golf courses and coastline. The Monterey Peninsula continues to impress with many of the world’s most elite events, all of which are a magnetic draw for real estate aficionados and connoisseurs, alike. We are all so fortunate to live in a place offering such an unparalleled combination of relaxation and recreation.
2015 is starting to look like another prosperous year in real estate. After the usual seasonal slowdown in new home sales in Carmel, Pebble Beach and the other high-end niche markets of the area, the tail end of March picked up rather quickly, eliminating much of the existing inventory from the market. Many of these new, pending sales from March have completed during the month of April, with the trend seemingly continuing into May. While we didn’t see quite the same level of growth in 2014 that we witnessed in 2013, the lack of inventory is likely to raise prices further over the Spring and coming Summer, creating an increasingly seller’s market. That said, sellers will need to pay a close eye to rising interest rates, which could impede the velocity of the market, albeit more so in the low to mid range, versus the high-end markets of Carmel and Pebble Beach, which are primarily cash and equity driven.
As always, thanks for following, and here’s to a killer 2015 real estate season.
Ryan & Team
Carmel by the Sea Real Estate
Carmel-by-the-Sea real estate is currently at 17 available homes, with 5 completed single family residence transactions during the month of March.
Carmel Real Estate
Carmel Real Estate is currently at 143 available homes, with 37 completed single family residence transactions during the month of March.
Pebble Beach Real Estate
Pebble Beach real estate is currently at 67 available homes, with 10 completed single family residence transactions during the month of March.
Carmel Valley Real Estate
Carmel Valley real estate is currently at 43 available homes, with 8 completed single family residence transactions during the month of March.
Carmel Highlands Real Estate
Carmel Highlands real estate is currently at 7 available homes, with 3 completed single family residence transactions during the month of March.
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.