Ryan Melcher Properties May Newsletter
The season is upon us! While the real estate season is in full thrust, so is Summer! We all kicked off a week ago (Memorial Day) with backyard BBQ’s and Memorial Day parades, enjoying with gratitude the freedoms that so many of us take for granted the other 364 days out of the year. If not for the great sacrifice of those that have fought so bravely over the years, I might not have the freedom to write this to you now, sell homes around such a beautiful area or even keep much of my commissions! As we move forward into the Summer, let us do so with a spirit of eternal gratitude and recognition that while this country may not be perfect, we have it better than almost anyone else in the world.
So, what will you do this Summer? Some of us will stay in town and spend our Summer downtime walking the dogs on Carmel Beach, entertaining guests and sunning ourselves at the Pebble Beach Club or out in Carmel Valley at Refuge Spa (pick your poison!). We have several racing events at Mazda Laguna Seca Raceway, food & wine celebrations, and of course, Car Week, to name a few on the horizon. While some are off to Europe and other vacation spots around the world, many are headed to our quaint, little town to relax, tour the gift shops and taste wines, see our world famous Monterey Aquarium, golf at any of our numerous world-class courses, and yes, buy real estate! Relocations, 2nd, 3rd and even 4th homes are not uncommon objectives of many venturing to our neck of the woods at this time of year, so if you’re on the fence about putting your home up for sale, get off now! The market is hot and the buyers are coming, whether you’re ready or not.
Wishing you all the best in your Summer adventures. Scroll down for the May market activity by city……
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional service, in-depth market knowledge and guidance through the entire process.
Carmel real estate inventory is currently at 127 available homes, with a total of 35 closed transactions having taken place during the month of May. Sales were in the range of about $700K to $3.6M, with about half at or below the $1M mark. Nice to see the full run of the gamut this time of year. Only 2 of the sales fell inside of the Golden Rectangle, with a good handful falling just North or East in what are often still considered the prime parts. The top of the market was represented by a brand new build at 2992 Franciscan Way, the very Easterly area of Carmel Point, overlooking the Carmel Mission, Fish Ranch and the Santa Lucia Mountains at a gracious 3,400 sq ft. A well appointed, over-sized Craftsman that had been on the market for over a year sold for $2,725,000, just inside the Golden Rectangle, at Lincoln 4 NE of Santa Lucia. There was a benchmark setting sale on Carmel Point for a standard 1,600 sq ft home at $2.575M for a hand crafted design by Doug Mack at 26264 Valley View. No ocean views but there were some nice Easterly views of Fish Ranch from the upstairs master bed. There was a sale at Camino Real & 8th for a 921 sq ft tear down at $1.295M, for what I assume will be new construction and a brand new listing next season. There was also sufficient activity in the Carmel Woods area, as well as the South East area around Mission Trail Park.
Pebble beach real estate inventory is currently at 67 available homes. There were 14 closed sales last month, 5 of which were in the low end under $1M and in the Country Club area; There are some nice, clean offerings around the $1M mark in this area of Pebble right now. There was a basic but clean offering that closed right next to the MPCC clubhouse for $1.525M for around 2,500 sq ft. A Spanish Bay town home, one of my favorite locations, sold for $1.895M with 3,500 sq feet, a full remodel and views of the twelfth fairway and the greenbelt. There was also a very modern California contemporary of a modest 2,200 sq ft for the area that sold at 3136 Stevenson Drive for $2.5M, a premium for this location. Pebble picked up the very top of the market this month with both of the two highest sales on the Peninsula; 3235 Macomber Drive, for an architectural Spanish-modern masterpiece by world-renowned Cesar Pelli, and a sophisticated, contemporary home on the coveted 14th fairway of the Pebble Beach Golf links, the area’s most expensive and coveted real estate.
Carmel Valley real estate inventory is currently at 83 available homes. There were 21 closed sales last month, the lowest being $220K for a condo in the 55+ community of Hacienda Carmel, and the upper echelon represented by a sale of $2.995M on River Meadows Road in the River Meadows Community for a larger, well kept, fairly recently built estate home. Another interesting sale was an 8.5 acre parcel which fronted on the river and had a main house, guest house, carriage house, plus several different outbuildings, a barn, corral and a well- quite a value. A highly maintained, ranch-style California Cottage home sold for $1.725M on East Garzas Road, a desirable Bernardus Lodge and Los Laureles Lodge area location.
Carmel Highlands real estate inventory is currently at 23 available homes. Only 2 sales last month; one at 156 Highway 1 for $5.35M for an old Spanish style home in need of some TLC, but hanging gloriously off the edge over the Pacific, and a coastal homestead on the land side of Highway 1, a fairly long drive down the coast and right before Garrapata Beach, with big views of the ocean for $2.4M.
Monterey Salinas Highway 68 Corridor
Inventory here is currently at 77 available homes. There were 12 closed transactions during May, most falling below the $1M mark. There was a nice estate home that sold in the Pasadera Country Club for $1.65M and some action just above $1M near the Bay Ridge Community. The highest priced sale was in the Monterra community for $3.350M for a newer 8,200 sq ft newer build with soaring ceilings and views of the forest.
Monterey real estate is currently at 62 available homes, with 29 closed transactions during May. Every sale was under $1M, from about $250K to $850K, spread evenly throughout the spectrum, with the exception of a single sale at $1.39M, which was on Franklin Street for a restored Dutch Colonial in the Old Town Monterey area with views of the bay and the city lights. Most of the upper end here focused in Deer Flats and the Skyline Forest area around the $800 to $900K marks.
Pacific Grove real estate is currently at 39 available homes, with a total of 17 closed transactions throughout May. Most of these sales fell under the $1M mark, with the exception of 365 Ocean View Boulevard for $2.425M, which was a large, Spanish-style home with sweeping bay views and in-town living, and a gracious PG cottage charmer with big views and a private backyard on Bayview Ave for $1.37M.
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.