From the desk of Nicole Truszkowski, your Weekly Luxury Market Report for Carmel and Pebble Beach Real Estate for the week of January 7th, 2016.
Hello there! Happy 2016! I hope you and yours had a wonderful holiday season. You haven’t heard from me since the middle of December and I’m eager to update you with what’s been going on in the luxury real estate market in Carmel & Pebble Beach. Pebble Beach overall activity was less when compared to Carmel, however, some significant homes went pending and closed escrow. Carmel continues to see high numbers in new listings, pendings and solds. See below for more details.
Pebble Beach Real Estate
Pebble Beach had 4 new listings hit the market over the holidays, including an Ocean view, hillside estate on Padre Lane that is listed for 4.35 million and sits on 1.4 acres. This home spent 2015 off and on the market with an original list price of 4.9 million and last sold in July of 2013 for 4.25 million. 6 homes went pending with a 9.8 million home going into escrow that is located on Rhonda Road. This estate features panoramic ocean views, superior finishes with wonderful attention to the details in the design and layout of the home. This fantastic estate spent 63 days on the market and is scheduled to close escrow January 19th.
The BIG news to come out of Pebble Beach in the past few weeks is that fixer upper estate on 17- mile drive that first hit the market back in July has SOLD. Originally listed for 14.5 million, this vintage home sits on one of 31 coveted Ocean front lots with views of the famed Lone Cypress. After 144 days on the market, this home sold for 11 million. It will be so interesting to see what the new owners do with this home, as it is essentially a major remodel project, however with the amazing location it has the potential to be a magnificently gorgeous estate!!
Click on the link to search the most up-to-date information on available Pebble Beach homes for sale.
Carmel Real Estate
The luxury Carmel Real Estate market stayed fairly active throughout the holidays with 10 new listings hitting the market. A recently remodeled Carmel Cottage, just steps to downtown, saw itself back on the market with new representation. This home located on Junipero, has been on and off the market since 2014 with an original list price of 3.9 million. Situated on a 6,000 Sq.ft. oversized Carmel lot, while rare did not warrant an almost 4 million dollar price tag, especially since it sits on a busy section of Junipero. It looks like after 2 years of yo-yo’ing on the market the sellers are being a tad more realistic with a new list price of 2.998 million. 12 homes went pending including a Classic Cape Cod cottage located in the coveted Carmel Point neighborhood that was listed for 3.495 million. Steps to the beach this home spent 68 days on the market and is scheduled to close February 16th. Lastly, and most impressively, Carmel saw 22 homes close escrow with 36% of those homes selling within 30 days of being on the market!!! One of note, a contemporary abode sitting on a bluff overlooking the Ocean & Wildcat Cove, spent only 41 days on the market, was originally listed for 6.695 million and sold for 6.395 million.
Click here to search the latest available Carmel homes for sale.
Quick Recap: I’m excited to see what the first few months of 2016 will bring to our luxury Real Estate market here on the Monterey Peninsula. If we’re seeing significant sells in Pebble Beach and high numbers in Carmel over the holidays, which is a historically SLOW time period for Real Estate, it can only be an indication of what’s to come for the rest of the year. Personally, I spent a lot of the holidays working with both sellers and buyers. I brought on 3 new listings in Monterey, Pacific Grove and Carmel Valley. Click on the links below for more information:
That’s all for this week! Stay tuned for next weeks blog, until then here’s what’s happening around town this weekend:
- 1/9 – 1/10 – Pac Rep Presents, Solid Gold Tribute Concert at Golden Bough Theater
- 1/10 – Night Fever: The Bee Gees Tribute at Sunset Center
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