Pebble Beach real estate sales have dramatically improved with 10 homes closing escrow in June 2010, this is a 42.9% increase from June 2009 sales. Big news is the median sales price jumped to $2,575,000 up 134.1% from the $1,100,000 in June 2009.
The highest sale in June was a home located on Palmero Way which sold for $7,900,000. This home was located in the Central Pebble Beach community and it was brand new construction, DOM was 504, the home was 8040 SF with views of Carmel Bay. The low sale was for $787,500 for a home located on Sunset Lane in the Upper Forest/Sheppard Knoll/Ocean Pine community. This home was 1768 SF and was situated on a large lot, this home sold in 57 days.
No surprise that the inventory level of homes on the market was 128 homes, the highest seen in over 2 years. The U.S Golf Open tournament hosted in June at the Pebble Beach Golf links encouraged many buyers to list their estate, and see what the current market conditions could potentially bring. Sales trends will be followed and reported over the next six months, most likely showing an up trend in sales due to the increased domestic and foreign visitors to the Monterey Peninsula.
Now more than ever it is imperative to have your home listed with an experienced marketing agent. Read a detailed summary of Pebble Beach market action trends below. Call Nicole Truszkowski to find out how to get top dollar for your Pebble Beach home.