We can feel Spring season coming upon us with reawakened interest in the high end markets! I’m hoping for more inventory to match demand. I myself have a 3 bed, 2 bath view home on Tierra Grande in the Valley coming to market next week. Expansive views in need of just a little updating. I expect it to sell rather quickly.
The downtown Carmel area picked up the pace last week with 4 out of 8 Carmel closings in actual Carmel-by-the-Sea city. One sale was at $2.4M for about 2600 sq ft on a slightly undersized lot, North of Ocean and on Monte Verde. A really nice, new build on Mission and 11th sold for $1.7M for 1600 sq ft on a standard 4000 sq ft lot. Only 1 new pending sale listed at $1.95MÂ on Camino Real and 4th, just about 2 blocks North of Ocean.
Pebble Beach saw 3 closed transactions- none on the estate side, but there was a huge one bedroom house of glass with guesthouse on Padre Lane that closed at $4.1M. Unique to say the least. There was only one pending sale in Pebble, also on Padre Lane, which was a dialed, large home right above the Lodge listed at $8.295M. There was one lot sale on Forest Lake Road on about an acre for $830K. We didn’t see the same activity in Pebble as we did in Carmel, but it still continues to show gains, as well as a notable turnaround in the high end.
A slower week for sales in Carmel Valley, but not for lack of buyers! Inventory remains incredibly low under the $1.5M range, with a lot of lookers! Only one closed sale last week, and it was in the 55+ area of Del Mesa. On the up side, even with the lack of inventory, Carmel Valley had 6 new sales, one of which was in Quail Meadows at a list of $2.195M.
Only 1 new sale in the Highlands on Oak way for a small cottage listed at $1.195M with peaks of the ocean.
Things are heating up!
Best,
Ryan
