Category: Blog

Ryan Melcher Properties May Newsletter

Dear Friends,

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……

Cheers,

Ryan

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

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

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

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

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

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

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.

April Market Report

Dear Friends,

Real estate picked up again during April, the close of tax season. I’m happy to report that new listings and more active buyers have followed, including a new listing that I brought to market yesterday in the Miramonte area of the Valley, next door to Bernardus Lodge. I have a good feeling about this season; it should be a great time to list with Summer in front of us and healthy real estate forecasts.

Cinco De Mayo is coming up, with local festivities planned at popular watering holes like Baja Cantina. We also have Memorial Day Weekend, which should bring another influx of interested real estate seekers. This week brought us a heat wave that I’m hoping will continue into Summer and get people off the fence and buying up properties in time for Summer.

As always, if you or someone you know is thinking about buying or selling, please call me directly. It’s never too early to get a jump on something, even if you’re not planning on making a move for a few months. And now onto the update….

Cheers,

Ryan

Carmel Real Estate

Carmel inventory is down from 125 to 119 available homes. Closed transactions dropped from 24 to 20, with all but about 4 either near the downtown or Carmel Point areas, and with prices ranging from $725K to $3.3M. The highest priced closing was on Carmel Point at 26276 Camino Real for $3.3M. This was a newer, very well done home at over 2,600 sq ft with a Craftsman flare. There were some interesting sales, including a pied a terre that fetched a premium of $1.9M just off Ocean in the commercial district at the NW corner of Lincoln & 5th, and an over-sized, split level, dated home with a pool at Carmelo 4 SW Ocean. I don’t often see pools in this area. New, pending sales have picked up quite a bit; at the time of this report, there are currently 36 pending transactions from the month of April, up from 24 the previous month. 7 pending sales are over the $2M mark, the highest being a brand new, spec home at 2992 Franciscan Way that sold the first day on market from an asking of $3.595M. There seems to be a push towards new construction sales in the $2M to $3.5M range that’s bringing quite a few new builders to market. There were 2 closed land sales; a standard 4,000 sq ft lot on Monte Verde & 9th sold for $900K, and a parcel at the mouth of the Valley in the Carmel Views area sold for $425K.

Pebble Beach Real Estate

Pebble Beach inventory is up from 58 to 65 available homes. Closed transactions last month ticked upwards ever so slightly from 10 to 11. For April, Pebble didn’t break the $3M mark, and the high, high-end seems to have taken a small break. The highest priced closing was a beautiful ocean and course view home at 2877 17 Mile Drive for $2.895M, while the most notable was probably a stunning 80’s contemporary 1545 Venadero Rd, just up from the Lodge and centrally located, for $2.65M. At the time of this report, new, pending sales from the month of April stayed at 13, the same as the previous month. Most notable was a new construction, California contemporary of the utmost quality and materials at 3136 Stevenson Drive, from an asking price of $2.69M. While the market for this immediate location usually does not command these types of prices, a buyer saw difference in quality and opted to pay a premium. There was one vacant lot that closed at Sunridge & Sunset for $300K.

Carmel Valley Real Estate

Valley inventory is up slightly from 83 to 85 available homes. Closed transactions last month rose from 15 to 21, ranging from about $750K on Laurel Drive closer to the Village, to $3.825M in the Santa Lucia Preserve. $3.825M was the highest number for the month at 6 Rumsen Trice, which was a somewhat recent construction, beautiful Spanish hacienda style compound with views of the hills. Also quite notable was a sale in the Quail Meadows development at 5463 Quail Meadows Drive for $3.56M. This was a private, sophisticated, European Heritage home of over 5,500 sq ft and views of the Valley. New sales dropped from 29 down to 16 for the month, something which I think is due to a lack of inventory for this area. We saw action in both Quail Lodge and Carmel Valley Ranch developments, as well as the Los Laureles Grade area. Most notable was probably a river-side home at 59 East Garzas Road from an asking of $1.795M- elegant, flowing floor plan, high ceilings and newer construction.  There were 2 closed vacant lot sales, both in the Preserve, and both on San Clemente for $600K and $365K, respectively. Two pending lot sales: one on Asoleado in the Preserve from an asking of $299K, and another on San Clemente from an asking of $439K.

Carmel Highlands Real Estate

The Highlands inventory rose a bit from 23 to 25 available homes. Closed transactions came up from just a single sale the previous month, to a total of 3 for April. As is somewhat typical, all three sales were over $1M, and two were far over. The most notable was at 155 Highway 1, which a newer, modern, if not Tony Stark-esque home cascading over the edge of the cliff and into the whitewater below. Truly a phenomenal property for $5.75M. Another high-dollar sale was at 106 Yankee Point Drive for $4.85M. This was a large, single-level view home on the edge of the water. No vacant lot sales of any kind.

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.

Market Comments ~ Week of 4/21- 4/27

I apologize that I was unable to write my weekly comments last Monday. Here are my comments and the activity from last week-

Carmel had a total of 4 closed transactions; I continue to see the higher prices captured on Carmel Point, versus the Golden Rectangle. We had a closing for $3.3M on the backside of Carmel Point (not even the prime Point area) at 26276 Camino Real, which was a meticulous home of over 2600 sq ft with a light and bright, opened floor plan. A new construction, traditional design also sold for $2.575M at 2798 14th Ave, just around the corner from Carmel River School and the Carmel Mission Inn. We also had some action in and around the Carmel Woods area. Nothing in the Rectangle.  6 new sales in Carmel, 5 of which were in the downtown area. A slightly over-sized custom craftsman sold from an asking of $2.95M at Lincoln 4 NE Santa Lucia, with a small peak of the wetlands. A beautiful, ocean view, new-build with high ceilings and lots of light sold from an asking of $2.175M. There was a new spec that brought the market up in the South East area, and a couple of rustic cottages sold in the Northeast and Northwest areas.

Pebble Beach closed 3 sales last week with 1 on the estate side. Really interesting, heavy construction contemporary sold on Venadero for $2.65M. 2 new sales both in the Central Pebble Beach area; a borderline tear-down with ocean views on Rhonda from an asking of $1.737M, and a contemporary on Spyglass from an asking of $2.295M.

Market Comments ~ Week of 4/7 – 4/13

There were 7 closed transactions in the Carmel real estate markets last week, most notably a sale at Scenic 7 SW of Ocean for an older Carmel cottage with a split level floor plan and some ocean views for $2.7M. There was also an off-market sale at 26070 Ridgewood Road for a finished home in the Mission Trails Park area for $2.395M, a slightly undersized, remodeled home at Casanova 3 SE of 4th sold for $1.675M, a home in the High Meadows area East of Highway 1 sold for $1.165M, a view home at 24800 Outlook Drive sold for $1.05M in Carmel Views, a remodeler’s dream sold for $940K directly across the street from the Carmel Mission at 3009 Lasuen Drive and a sort of “Bohemian style” multi-unit, terraced property in the downtown area at Dolores 3 NW of 4th for $950K. The markets seem to be taking off with tax season coming to a close- as of this time there are 11 new pending sales from last week, most notably a large, high-end new construction home at 2992 Franciscan Way with gorgeous views over the top of Carmel Mission (no ocean views, however) from an asking of $3.595M. Other new sales of note in the prime markets were a smaller, rustic Carmel cottage on an over-sized lot at Camino Real 3 SW of 12th from an asking of $1.795M, and a very small but well placed 2 bed, 1 bath cottage at 9th & Monte Verde in the Golden Rectangle from an asking of $1.295M.

There were 3 closed transactions in the Pebble Beach real estate markets last week, most notably a sale at 2930 Bird Rock Road for a French Country home on the 3rd hole of the MPCC Dunes course at $2.2M. There was also a closed sale at 1056 Sawmill Gulch Road for a newer design at $1.65M, and a small mid-century basic in the Country Club East area for $799K at 2993 Sloat Road. As of now, there are only 2 new pending sales in Pebble from last week; a sale at 1440 Lisbon Lane at an asking of $1.575M and a nice remodel at 3065 Strawberry Hill Road from an asking of $1.499M.

Carmel & Pebble Beach Market Comments ~ Week of 3/31- 4/6

Carmel Real Estate

4 closed transactions in Carmel last week; there was a sale at Monte Verde 2 NE 13th for an over-sized cottage, slightly dated but a nice design and floor plan for $1.975M, another over-sized dated sale at Carmelo 4 SW of Ocean with a pool for $1.8M with a quirky floor plan, a sale at San Carlos 2 NW 9th (very busy street) for a much older, single walled construction cottage of standard size for $1.3M and a cute, slightly undersized “Quintessential Carmel Cottage” at Torres 4 SW 10th for $1.15M.

A bit of an increase in Carmel real estate new sale activity last week; there was a sale at 26276 Camino Real for a newer large, 4 bedroom custom home on the backside of Carmel Point from an asking price of $3.298M, a new construction, standard 1600 sq ft very custom cottage with views facing Carmel Valley of Fish Ranch over the old Odello artichoke fields sold almost right away from an asking of $2.695M,  a 90’s build Carmel cottage with a bit of old world charm and some great bay views sold at San Carlos 4 NW of 1st in the RLS lower school neighborhood from an asking of $1.845M, an over-sized Carmel Woods mid-century home with a sophisticated touch sold from an asking of $1.075M and a very small, older cottage at 24816 Santa Rita in the Northeast area sold from an asking of $680K.

Pebble Beach Real Estate

No closings in Pebble Beach, but we did have 3 new pending sales; a sale at 1032 San Carlos Road for a large, dated home overlooking the 2nd hole of the MPCC shore course from an asking of $1.495M, a sale at 4079 Los Altos Drive for a large, wooden home with guest house and no view from an asking of $1.2M and a sale at 1107 Mariners Way  from an asking of $995K for an eclectic but remodeled home near the PG gate.

March Market Report

Dear Friends,

Things are looking strong for the selling season this year. I’m expecting some nice price increases over the course of the Summer, as well as some heavy buying volume. Quite a few of you are headed to town after the April 15th tax filing deadline to look at properties with me. Normally, I see a strong influx around this time, as people have a better idea of how much they can afford to spend on a new home or vacation property. You are the ones that drive the prices up and keep our market healthy and a great place to invest, so thank you!

March carried over the nice momentum we had going in January, with a slight increase in trade activity. Most of the higher-end outside activity I am seeing in the market continues to come from the Bay Area (San Francisco, Silicon Valley, Marin, etc), Southern California (Los Angeles, San Diego, Santa Barbara, Montecito), Central Valley (agriculture), Texas and the Northeast Coast (Boston, NY, etc). We’re also experiencing a lot of new offshore activity from China, predominately focused on the Pebble Beach golf course areas. Much of the new inventory has been coming to Carmel and Carmel Valley, rather than Pebble Beach, as I can personally attest to with my next two upcoming listings in Carmel and Carmel Valley, respectively. I am also in the process of implementing some very targeted marketing to the aforementioned West Coast and East Coast areas, in an effort to greatly increase my qualified buyer pool for the benefit of my higher end sellers. I’m expecting this to bring my client’s properties maximum exposure to those more qualified buyers, versus the typical way of advertising only to the general, local public (which we also do).

I wish you all the best, and a stellar 2014 real estate season. Don’t forget to buy your tickets to the annual Pebble Beach Food & Wine next week. Below please view my March Carmel & Pebble Beach Market Report.

Cheers,

Ryan

Carmel Real Estate

Carmel real estate inventory is up from 116 to 125 available homes. Closed transactions ticked up from 23 to 24, with about half concentrated in the Prime areas of the Golden Rectangle and Carmel Point from about $1M to $1.5M. The Rectangle, the Point and Carmel Meadows picked up best in show last month with the top 3 highest prices. An enchanting European cottage sold on the Northeast Corner of Casanova & 12th for $3.5M, a sophisticated, if not eccentric, reversed floor plan with ocean views sold at 2465 Bay View Avenue for $3.4M and a dramatic, large ocean view craftsman sold on the East side of Highway 1 in the Carmel Meadows for $2.9M. Other closings of note were a charming Carmel pied-a-terre cottage just North of Ocean Ave at Monte Verde & 5th for $1.9M, a Carmel Point fixer-upper for $1.485M at 2479 17th Avenue and a vintage Carmel cottage in excellent repair on San Carlos & 13th for $1.2M. There are 24 new and currently pending sales from the month of March, most notably a home at Scenic 7 SW of Ocean from an asking price of $2.895M for a quirky 2 story floor plan but ocean views from a prime area not usually accessible in this range. Other new pending sales of note were a beautiful, over-sized Carmel Point cottage with Carmel Valley Views from an asking of $2.295M and a new construction, ocean view Tescher home on the corner of Lincoln & 5th from an asking of $1.95M.

Pebble Beach Real Estate

Pebble Beach real estate inventory is down from 61 to 58 available homes. Closed transactions fell here to a total of 10 for the month, with the most notable an excellent ocean view value at 1271 Padre Lane, just North of the Lodge for $3.33M. Also notable were a gracious but dated home sold at 3189 Bird Rock Road overlooking the 15th and 14th tees of MPCC for $2.5M and a big but slightly unfinished Viscaino Road estate with no views for $2.01M. New sales came roaring back last month from 7 during the previous month to 13 new sales and one in the very high-end in the Macomber Estates by world-renowned architect Cesar Pelli at 3235 Macomber Estates from an asking of $12.8M. A great value at 2877 17 Mile Drive for a beautiful home overlooking the white water and the Spanish Bay golf links was a new sale at an asking of $2.895M. Also of note were a new sale at 1545 Venadero in Central Pebble Beach for a very interesting 60’s contemporary made of thick concrete and sheets of glass from an asking of $2.85M and one at 2930 Bird Rock Road overlooking the 3rd fairway of MPCC course for a modestly-sized French country home from an asking of $2.595M.

Carmel Valley Real Estate

Carmel Valley real estate inventory numbers stayed the same at 83 available homes for the month. Slight rise in closed transactions from 14 for the previous month to a total of 15 for March. Most notable of the closings were an elegant remodel in the Quail Lodge development for $1.8M at 7032 Valley Greens Circle, a large remodeled Mediterranean styled to the 9’s just passed the Los Laureles Lodge and Bernardus Lodge at 43 Middle Canyon for $1.647M and an impressive new-build Mediterranean overlooking the Carmel Valley Village at 198 El Caminito Road for $1.45M. New Sales skyrocketed this month from 12 to 29 in Carmel Valley. This time of year I tend to see the Valley’s velocity pull way ahead of the other higher-end areas. Most notable new sales were a sale in the Preserve community for a gorgeously done Hacienda estate at 6 Rumsen Trice from an asking of $3.995M, a stately French country home in the River Meadows community at 8680 River Meadows Road at an asking of $3.195M and a Spanish style compound with never-ending pool and soaring views of Monterey just outside of the Bay Ridge community from an asking of $1.848M.

Carmel Highlands Real Estate

Carmel Highlands real estate inventory fell to 23 available homes. There was just 1 closed transaction at 98 Yankee Point for $6.7M which was an oceanfront architectural masterpiece cascading into the whitewater. There were 3 new sales in the Highlands, all of which were quite notable; a sale at 71 Highway 1 for a large, all-stone home above Gibson Beach (some Rock n’ Roll history to this property) at an asking of $4.5M, a sale at 42 Yankee Point Drive for an older, smaller and dated but uniquely positioned ocean front home from an asking of $3.495M and a Carmel Highlands estate home on the East side of the highway with ocean views and supreme privacy from an asking of $2.488M.

Monterey Highway 68 Corridor

Inventory here is at 57 available homes. There were 14 closed transactions for March, most notably a very large Mediterranean new-build in the Bay Ridge Community for $2.15M. Activity was up with 17 new pending sales, most notably a beautiful Bay Ridge home with South facing views at 11430 Saddle Road from an asking of $1.549M and a well appointed Pasadera Villa at 119 Las Brisas Drive from an asking of $1.149M.

Monterey Real Estate

Monterey real estate inventory is currently at 57 available homes. There were 14 closed transactions here last month, most notable of which were a mid-century modern home, freshly renovated with views of the bay at 5 Sierra Vista Drive for $949K and a estate home in Peter’s Gate at 750 Colton Street for $1.08M. Increase in activity here for the month with 21 new sales, most notably a sale at 11 White Tail Lane in the coveted Deer Flats area from an asking of $895K.

Pacific Grove Real Estate

Pacific Grove real estate inventory is currently at 45 available homes. There were 14 closed sales last month, most notable of which was perhaps a classic Pacific Grove cottage in excellent repair at 422 Pine Ave for $915K. 19 new pending sales for PG, the best of which was at 1142 Del Monte Boulevard for a custom stone home done to the highest quality and overlooking the Pacific Grove golf course and parts of the ocean from an asking of $2.695.

Week of 3/17 – 3/23 ~ Carmel Real Estate & Pebble Beach Real Estate

Slight uptick and some nice closings (a total of 6) for Carmel real estate last week. An over-sized European cottage on Casanova & 12th closed escrow for $3.5M. Couple others in the prime areas, including a well appointed, newer cottage on Lopez & 4th that closed for $1.65M and a dated home with good bones on Carmel Point at 2479 17th Avenue for $1.485M. Another 6 new pending sales, none of which were in the prime areas, but one of which was a nice remodel at 2798 14th Avenue near Carmel River School for an over-sized cottage w/ guesthouse from an asking of $2.795M. A newly remodeled home in the Northeast area at 24844 Dolores also sold from an asking of $1.495M  – and another interesting one – a vintage Carmel log cabin with main house and guest house at 24571 Guadalupe in the Carmel Woods area sold from an asking price of $1.1M.

4 closed transactions for Pebble Beach real estate last week- a big jump from the previous week. A nice single-level home and garden offering sold at 1403 Cantera Court for $1.85M and a French Provincial at 3150 Don Lane sold for $1.7M in the estate area. There were 2 closings on the Country Club side of Pebble; a contemporary at 1087 Mission Road for $950K, and an interesting mid-century two story at 3042 Lopez at $895K. Momentum in Pebble stayed the same with 3 new pending sales; a sale at 2877 17 Mile Drive for a newer view home overlooking Spanish Bay course and the ocean from an asking of $2.895M (this was the deal of the week, for sure), and a sale at 3974 Rhonda Road on the estate side from an asking of $1.799M for a larger custom home, were the most notable.

On course for a healthy Spring….

Cheers,

Ryan

 

Week of 3/10 – 3/16 Market Comments ~ Carmel Real Estate & Pebble Beach Real Estate

Carmel real estate picked up the pace last week with 5 closed sales, most notably New England style cottage in the Golden Rectangle on the corner of San Antonio & 11th for $2.05M, with 2 beds and 2 baths, and a peek of the whitewater. Other interesting sales were a slightly over-sized vintage Carmel cottage closed on San Carlos & 13th for $1.2M, and a stunning remodel on a private knoll and surrounded by mature oaks in the Carmel Hills area accessed behind Carmel High for $1.1M. Major takeoff for Carmel with a total of 10 new sales, most notably a resale that fell out of escrow in the last week or two and went back under contract this week, at 26334 River Park Place near Carmel River School for a custom craftsman home at a list price of $2.15M. Since this home is outside of the Rectangle and the Point, and relatively close to the elementary school, the list price and quickness at which is went under contract is very indicative of the upward momentum of the market. There was also a sale at Monte Verde & 13th for a over-sized, well kept custom home at a list price of $2.095M.

Only a single closing for the Pebble Beach real estate market last week, at 1272 Padre Lane at $3.33M for a large floor plan and big views with excellent potential. Pebble picked up just a bit with 3 new pending sales, all of which were on the North side, and most notable of which was at 1050 The Old Drive for a modestly sized, remodeled classic Pebble Beach single level home from an asking of $1.375M. There was also at 4021 El Bosque Drive for an older but well maintained flat-roofed home at an asking of $1.15M, and a dated home at asking of $719K at 2967 Sloat Road.

Feeling some solid push in the Carmel market…….

Cheers,

Ryan

Week of 3/3 – 3/9 Market Comments ~ Carmel Real Estate & Pebble Beach Real Estate

This week’s numbers paint a pretty good picture of where things are heading for Carmel this season. While closed transactions were down to just 1, new sales jumped up in our Carmel real estate market to 9. Our single closing was in the Carmel Woods area on Santa Fe & 2nd for a nicely finished home at $1.6M. Of the 9 new sales, the most notable was a sale on Scenic & Ocean, just inside the Golden Rectangle, from an asking of $2.895M (some ocean views) and an oversized Carmel Point Cottage at 26138 Camino Real from an asking of $2.295M. Other sales included Lobos & 4th from an asking of $1.9M for an oversized artistic home, a smaller Carmel cottage on Torres & 10th from an asking of $1.196M, a Carmel Views home at 24800 Outlook Drive with Point Lobos Views from an asking of $1.195M, a mid-century home in the Hatton Fields area at 75735 North Mesa Drive from an asking of $1.125M, a good looking cottage in the Carmel Woods area at 24623 Upper Trails from an asking of $995k, another Carmel Views home at 26085 Dougherty Place from an asking of $729K and finally a small Carmel Woods cottage by Highway 1 at 24535 South San Luis Avenue from an asking of $452K.

Pebble Beach real estate showed a similar change in momentum with 3 closed transactions, and then a jump to 5 new sales. My favorite of the closed sales was an estate-style home between Spyglass and MPCC courses, and overlooking the 14th and 15th tees of MPCC, at 3189 Bird Rock Road for $2.5M. There was also a closed sale at 1555 Viscaino Road at $2.01M for a gracious gated estate with no views, and a well kept ranch-style home with an ocean glimpse and some decent perspective sold in the Spanish Bay area at 2872 Oak Knoll Road for $1.195M. Of the new Pebble Beach sales, the most notable was an architectural masterpiece with big ocean views in the Macomber Estates at 3235 Macomber Drive from an asking of $12.8M. An interesting contemporary offering near the Lodge just off 17 Mile Drive also was a new pending sale from an asking of $2.85M at 1545 Venadero Road. There was also a new sale at 2930 Bird Rock Road in the Country Club East area from an asking of $2.595M, 1403 Cantera Court from an asking of $1.995M and a home at 1135 Mestres Drive (also in the Country Club East area) sold from an asking of $1.265M.

It’s getting more competitive out there!

Cheers,

RM

February Market Update ~ Carmel Real Estate / Pebble Beach Real Estate

We’re fast approaching the home stretch for tax filing dates, and we here in the real estate industry are starting to see things pick up as a result. More would-be buyers now know how much they can spend on real estate, and they’re ready to take advantage of the upward momentum of the Carmel and Pebble Beach markets. As we saw towards the end of last year, the high end finally began to take off, and we’re now seeing what may be the continuation of that trend as we move into the 2014 Spring selling season.

Below is my February Carmel real estate and Pebble Beach real estate market update. As always, if you or someone you know are thinking about buying or selling, please contact me. Here’s to getting a little more rain this month! We need it. And don’t forget, next month is the Pebble Beach Food & Wine!

Cheers,

Ryan

Carmel Real Estate

Carmel real estate housing inventory dropped a little this month from 124 to 116 available homes. Closed transactions jumped from 14 to 23. Depicting a trend I’ve been seeing more and more of, the high end of the Carmel real estate market was represented by Carmel Point in the top 3 highest sales of the month; a new Mediterranean on Valley View Avenue for $3.1M, a contemporary ocean view home on Bay View Avenue for $3.685M and a gorgeous, new French chateau-style home on 17th Avenue for $3.575M. Only 2 closed sales in the Golden Rectangle last month, both on Carmelo & 12th for $2.395M and $1.797M, respectively, but plenty of action around the $1M to $2M range to keep us moving healthily along. There were 22 new Carmel real estate pending sales last month, 5 of which were in the Golden Rectangle, and the highest of which was on Casanova & 12th from an asking of $3.65M, for an oversized European cottage.  Other sales of note were a sophisticated new build with an upstairs ocean view on Bay View Avenue from an asking of $3.5M, a 2bedroom New England cottage on San Antonio & 11th with an ocean peek from an asking of $2.195M and a 1929 Craftsman-style cottage on Monte Verde & 5th that sold from an asking of $1.995M in 20 days. There were no raw land sales of any kind.

Pebble Beach Real Estate

Pebble Beach real estate housing inventory stayed exactly at the previous month’s number at 61 available homes. Closed transactions more than doubled to a total of 14, with a whopper closing of the Chappellet oceanfront estate just North of the Lodge for $16.5M- a property that had been on the market for about a decade. Closings of note were on Kingsley Court in the Macomber Estates for a 10,000 sq ft home of architectural note on 10 acres with no views for $4.5M,  a beautiful 4 bedroom ocean view home on 17 Mile Drive on the North side of MPCC’s shore course for $4.442M and a dated but large home on the prestigious Riata Road just up from the Lodge for $2.35M. Pebble Beach Real Estate cooled off a bit last month with 7 new sales, the most notable of which were a view home on Padre Lane from an asking of $3.975M and a moderately sized French Provincial home on Don Lane from an asking of $1.986M. There were no raw land sales of any kind.

Carmel Valley Real Estate

Carmel Valley real estate  housing inventory rose ever so slightly to 83 available homes. Closed transactions also rose slightly to 14 for the month of February. Sales of note were on Valley Knoll Road, just outside of the Quail Meadows area, for a captivating Charles Rose contemporary for $1.847M, an exquisite golf club-style contemporary on River Place on the Quail Lodge golf course for $1.899M and a gracious home on Prado Del Sol for $1.524M.  New Carmel Valley real estate sales dropped by just 1 this month, to a total of 12. Most notable was a large, sophisticated European heritage home on Quail Meadows Drive from an asking of $3.695M, a Quail Lodge course home on Valley Greens Circle from an asking of $1.825M and a newly renovated Mediterranean compound on Middle Canyon Road from an asking of $1.695M. There was also some good movement in the Village and the 55+ and over condo communities. There were no closed raw land sales, however there were 4 new land sales, most notable of which was a 40 acre equestrian property at the back of the Santa Lucia Preserve that went under contract from an asking of $425K.

Carmel Highlands Real Estate

Carmel Highlands real estate housing inventory fell by 1 to a total of 28 available homes. While there were “0” closed transactions in February, there were 2 new pending sales; one on Highway 1 for a dated Spanish style home with dramatic ocean views, hanging over the cliff on the ocean side of the highway, from an asking of $5.9M, and the other on Yankee Point Drive for a beautiful, single level oceanfront home of some size, from an asking of $5.495M. There were no raw land sales of any kind.

Current Mortgage Rates

30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 4.37 % 3.39 % 3.05 % 2.52 %
Fees & Points 0.7 0.7 0.5 0.4

 

Upcoming Local Events

3/1/2014   Carmel Jewish Film Festival
3/7/2014   Sunset Center Presents AIley II Dance Company
3/8/2014   The Once and Future Landscape
3/13/2014   Keller Williams Green Vendor Fair
3/14/2014   Catalyst Quartet
3/14/2014   Catalyst Quartet
3/15/2014   An Evening with Albert Paley
3/15/2014   Master-highlighting Event
3/15/2014   Traditional Celtic Music by Reel Deal
3/20/2014   Paninting Demonstration with Erin Lee Gafill
3/20/2014   Meet the Artist: Erin Lee Gafill Talk and Slideshow
3/21/2014   Dr. Dolittle, Jr
3/21/2014   Monterey Symphony presents “Insight”
3/21/2014   Monterey Symphony presents “Insight”
3/22/2014   Monterey Symphony presents “Insight”
3/23/2014   Monterey Symphony presents “Insight”
3/23/2014   Central Coast Fly Fishing to Teach Fly Fishing Essentials Demonstration at the Historic Holman Ranch
3/27/2014   Relais & Châteaux GourmetFest
3/28/2014   Smuin Ballet: XXTREMES
3/29/2014   Smuin Ballet: XXTREMES
3/29/2014   Comics for Kids

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.

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.
Photography and Design Copyright Ryan Melcher. All Rights Reserved. This website may not be reproduced or transmitted in any form without the consent of the publisher.
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