I’m not sure how to explain it, but again for last week the market in Carmel continued to move. It seems buyers are clamoring to get a hold of something over the holidays (a stellar sign for next season). We had buyers looking nearly every day last week. . It’s also great to see some of that seasonal tourism-driven traffic converting into new sales.
Of the 7 (yes, that’s correct, seven) closed sales in Carmel over the last week, 4 were downtown and 1 was in the estate area. One closed right outside of the Golden Rectangle on San Antonio, as you first venture onto Carmel Point, for $2.975M. This home was recently renovated, slightly larger for the area and boasted more than partial views of the ocean, in addition to great walk-ability to the beach. It isn’t surprising that it sold before ever making it to the open market. There was also a significant sale on Casanova & 8th at $2.2M for again a larger than average home, recently rebuilt and remodeled, and with (some distant) ocean views. Generally for the square footage and quality of a home in this area, homes command a slightly higher price, but this home had a bit of a dual living setup, something that isn’t quite as desired in this area of Carmel. New sales is where we finally saw a change of sale tempo. There were only 2 new sales in Carmel, 1 of which was downtown in the Rectangle on San Antonio & 10th from a list of $2.529M for a small, somewhat dated cottage with ocean views.
There were 3 closed transactions in Pebble Beach last week, the most notable of which was on the estate side on Viscaino for a nice sized home with partial ocean views for $3.25M. As for new sales, last week in Pebble gave us only 1 sale on Ronda Road from an asking of $1.8M- no views but some solid square footage in one of the estate areas.
After tomorrow morning, I’ll be hanging up the license for the next couple days and spending Christmas Eve celebrating with family and friends in Pebble Beach. My best and happy holidays to all of you.