February Market Update
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.
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.