November Market Update

Dearest Friends,

As we recoil from all the eating and drinking of last week, I cannot help but be thankful for all the special people in my life. We were fortunate to be visited by some family from back East, and take a much needed (half) week of relaxation from what was a busy and prosperous year. November brought with it the typical seasonal slowdown in Carmel and Pebble Beach, made more evident by Thanksgiving last week. That being said, tourism continues to be up from the few previous years, and buyers continue to look more for those good “off-season” buys. Forecasts for next year…..BIG.

Carmel saw a total of 15 closed sales, only 3 of which fell under the $1 Million mark. An oceanfront property on the Carmel Point portion of Scenic (26161 Scenic Drive) sold for $4.975M. It was an eclectic mix of “beachy” and “new age” interior design, with a nice curb appeal, a fire pit on the ocean side, and views down Carmel beach towards Pebble. Our office closed one on Carmel Point, as well- 26270 Valley View- for $2.15M. It was a 3 bed, 3 bath, very well appointed cottage, on one of the best streets on the Point- no ocean views. At the time of this report, there were 23 new pending sales in Carmel- fantastic activity for this time of year. There was a sale at 26443 Scenic Drive from a list of $6.995M. This was a beautiful new build, with a nice Carmel Stone facade in the front. I love to see the upper end and the Scenic Road area continue to move. We also saw some movement in the upper end estate area of Carmel, Hatton Fields, with a new sale  at 25530 Shafter Way. This was a 5200 sq ft “old world” home that had been extensively remodeled and restored. It reminds me of the residential in Montecito, CA, and is a great example of a true-to-form offering in this area of the market.

I always say that Carmel is the “bread and butter” of the market here in the Monterey Peninsula, and that rang true last month in Pebble Beach with only 6 closed transactions, the highest of which was a lovely 2200 sq ft remodeled cottage at 1025 Broncho Road, in the middle of MPCC golf club for $1.5M. All of the closings took place in the Country Club section of Pebble. At the time of this report, there were 11 new pending sales from list prices of $899K up to $6.498M at 1251 Padre Lane, for a  remodeled 5300 sq ft estate on about an acre and a half with ocean views. 1207 Padre Lane also went pending from a list  of $4.595M, as did 1525 Viscaino, on the estate side of Pebble, from a list of $3.5M with mild ocean views.

As a reminder, now is a great time for you, or someone you know that needs to sell, to begin the marketing process for next year. I appreciate and welcome any referrals. Enjoy the holidays!

All my Best,

Ryan Melcher

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.
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