2015 Recap and January Newsletter ~ Carmel & Pebble Beach
Happy New Year! We hope that 2015 treated you as well as it did us. I personally spent New Year’s Eve here in town, and opted to forego the craziness of skiing in the Sierra’s, as almost everyone and their mother seemed to be chasing the heavy snow. On the subject of weather, we’ve been getting sufficient rain here in Carmel the last month, plus. We have the AT&T Pebble Beach golf tournament coming up in early February, which in many recent years has been a showcase of our heaviest weather, but in my opinion, more fun the more it rains. I used to donate my time as a kid to the tent on the 14th fairway of the main Pebble Beach course- the big concession stand that local dentist, Ron Faia, used to run every year. The wind and rain used to beat so hard on the tent that we thought it was going to come out of the ground! We were hawking hot dogs, Heineken and stogies while our lives hung in the balance…….and loving every minute. While we look to finally have a rainy season on our hands, we’re just starting to see new movement in pending sales and listings for the year, and AT&T is still great exposure for our area to potential buyers- something to keep in mind while timing any upcoming listings.
Marketwise, 2015 was another year of gains, nationally, with the average sales price being up over 6%. And while sales velocity dropped some from the previous year, Carmel and Pebble Beach average sale prices were both up the 4th quarter of 2015 from the same period 2014: Carmel markets (including Carmel-by-the-Sea and Carmel Highlands) up to $1.55M from $1.44M average the year before, and Pebble Beach up $2.27M from $1.56M, which is somewhat misleading as the median price there only jumped a little over $100K from the previous year, but illuminates that the high-end there took off as a whole in 2015. Carmel Valley was up to $874k from $763k for the 4th quarter the previous year. Interest rates hiked recently to about 4.25% for the 30 yr fixed, and then earlier this week dropped back down to about 4 flat- a nice reprieve to keep the local market humming along, albeit the majority of our transactions are cash in some form.
We had a stellar 2015, beating out many of the competing luxury agents and teams in the high-end, which has everything to do with our loyal friends and clients, to whom we are so grateful and will always be available to at the drop of a hat. We also moved into the main flag office for David Lyng Real Estate on Lincoln Street, just South of Ocean Avenue in downtown Carmel-by-the-Sea. We now have a meeting room adjoined to our team’s office and are ready to take on more volume next year. For 2016 we have several new marketing video and social media tools in place, as well as having been welcomed into a couple of new luxury real estate networks. We are ready for you!
Yet another amazing year on the books. Thank YOU.
As always, please think of us if you or someone you know needs representation. Please scroll down for market activity breakdown by area.
Carmel Real Estate
Carmel real estate inventory is currently at 107 available homes, with 36 completed single-family residence transactions during the month of December.
Pebble Beach Real Estate
Pebble Beach real estate inventory is currently at 54 available homes, with 11 completed single-family residence transactions during the month of December.
Carmel-by-the- Sea Real Estate
Carmel-by-the-Sea real estate inventory is currently at 13 available homes, with 4 completed single-family residence transactions during the month of December.
Carmel Highlands Real Estate
Carmel Highlands real estate inventory is currently at 9 available homes, with 1 completed single-family residence transaction during the month of December.
Carmel Valley Real Estate
Carmel Valley real estate inventory is currently at 44 available homes, with 5 completed single-family residence transactions during the month of December.