Summer is almost upon us, and so are the annual Summertime extravaganzas! The annual Carmel Art Festival kicked off today in downtown Carmel-by-the-Sea, with the main events beginning tomorrow on Mission Street. There will be a painting competition and various tents up and down the street. The events will go until Sunday and bring even more visitors to our little town, many of whom pour over into the art galleries and shops, and eventually the tasting rooms and restaurants (and of course the real estate offices!). This is also a great way for locals to be part of their community. Another exceptional event taking place this month is also this Saturday- The Quail Motorcycle Gathering in it’s seventh year, takes place at Quail Lodge, out in sunny Carmel Valley, and is put on by Peninsula Hotels. This is an assembly of the finest motorcycles from around the world, from one-off prototypes, to antique and modern, to historic race winning cycles from every decade. This event is the younger sibling of the “Quail” (one of my very favorites), which takes place on Friday during Concours Week every August, and focuses on all vehicles of notable, famous and often historic stature. The Quail Motorcycle Gathering this weekend is the elite of the elite, and draws an eclectic crowd from all over. I hope to see a few of you there.
On to the real estate! As is typical, April brought the buyers out of the woodwork for the usual, post tax deadline flurry. We’re seeing most of the out of town business coming from the Bay Area and Texas. Much of the remaining Winter inventory in the $1M to $2M range was snapped up. Buyers in that range seem to be motivated by the Fed’s promises to finally raise interest rates. Different forecasts show around a 1% rise by year’s end, from around 4% to 5%, but we’ll see. The Fed has also made comments about it’s intentions of raising rates very gradually, so as to keep the market healthy, which is good because, in relation to Silicon Valley and the overall S.F. and Bay Area markets (which are on fire at insane levels) our market is healthy and moving in flurries of new sales, and then brief calms. We don’t have quite the velocity of our friends up North, so a quick spike in rates would probably mean a flat market here awhile. So far, the news sounds to be good and our market continues to stabilize more and more…..
In other news, our team was featured in the “Realtors of the Peninsula” section of 65 Degrees magazine this current Summer issue. We’ve also grown by one team member and have some very cutting edge marketing rolled out for the season, and a freshly redesigned and advertised website, specifically targeting the high-end, to feature your properties to prospective buyers from all over.
As always, please reach out with any real estate questions, or estimate needs, for you or anyone you know. We are making a push for additional inventory this month, and always appreciate the support. Scroll down for market activity by area…….
Ryan & Team
Carmel-by-the-Sea Real Estate
Carmel-by-the-Sea real estate is currently at 17 available homes, with 6 completed single family residence transactions during the month of April.
Carmel Real Estate
Carmel real estate is currently at 141 available homes, with 27 completed single family residence transactions during the month of April.
Pebble Beach Real Estate
Pebble Beach real estate is currently at 65 available homes, with 11 completed single family residence transactions during the month of April.
Carmel Valley Real Estate
Carmel Valley real estate is currently at 45 available homes, with 3 completed single family residence transactions during the month of April.
Carmel Highlands Real Estate
Carmel Highlands real estate is currently at 8 available homes, with no completed single family residence transactions during the month of April.
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.