From the desk of Nicole Truszkowski, you’re Weekly Luxury Market Report for Carmel and Pebble Beach Real Estate for the week of July 1st, 2015.
Happy July, I can’t believe we’re half way through the year, where does the time go??!! We’re continuing to see strong activity in the luxury real estate market here on the Monterey Peninsula, now that we are well into our tourist season. Still trending is smaller than average DOM (days on market) as well as those homes that have spent awhile on the market finally getting some action. See below for details.
Pebble Beach Real Estate
The Pebble Beach luxury real estate market stalled a bit this past week with just one new listing, perhaps that’s due to sellers waiting to put their homes on the market till after the big holiday weekend. New to the market is a beautiful home that literally sits on the Spyglass Golf Course with views of both the 14th and 15th golf holes. Enjoy dramatic fairway golf views the moment you enter the home and cast your gaze out the lovely floor to ceiling windows. This sanctuary features a huge outdoor deck, which will come in handy for enjoying front row seats to the famed AT&T Pro Am that happens every February. This classic golf property sold in 2004 for 2.2 million, then yo-yoing on and off from 2012 to the end of 2014 and is now listed at 2.799 million. With the great location and inventory being low, I can see this home getting some nibbles from hungry buyers looking for that perfect golf course retreat.
There were 4 new luxury homes that went pending this week and 3 estates that closed escrow. Sold sales included one of the luxurious Spanish Bay Condos that spent two days on the market, original list price was 4.995 million and settled on a sale price of 4.25 million. June 2015 Pebble Beach luxury homes sold totaled 9, with an average 75 DOM. There are currently 67 Pebble Beach homes for sale and now that we’re finally in the thick of our tourist season, I bet we will continue to see an increase of homes going into contract. I also predict a slight increase of inventory in July, especially as the big car show Concours d’Elegance draws closer.
Click on the link to search the most up-to-date information on available Pebble Beach homes for sale.
Carmel Real Estate
The Carmel luxury real estate market continues to sizzle with 12 new listings hitting the market last week. A home located on the coveted Valley View street in the Carmel Point neighborhood made its debut this week. Newly remodeled with custom designs, high-end appliances and hickory wood floors, this home is listed at 2.975 million, which is quite the jump in perceived value since this home last sold in 2013 for 1.65 million. These sellers must really be relying on their remodel choices, location and seller’s market to justify a 1.325 million-price increase.
10 Carmel homes went pending this past week and we’re still seeing low DOM’s including a charming Carmel cottage on Guadalupe that was re-listed by Sotheby’s and went into contract in a week! This home features a 1.575 million price tag and is scheduled to close August 11th.
Rounding out the last week of June, the Carmel Real Estate market boasted 5 closed sales, including a home located on Pradera in the Carmel Meadows neighborhood that spent only 12 days on the market. For the whole month of June, Carmel saw 35 homes close with the average DOM being 96 days. There are currently 141 luxury Carmel homes on the market.
Click here to search the latest available Carmel homes for sale.
Quick Recap:
It may not have seemed with this past week sales statistics that activity in Carmel and Pebble Beach Real estate markets is on the rise. I do believe that the slight lag is due to people being pre-occupied with the big 4th of July holiday this weekend. Personally, I have instructed sellers to wait until this weekend is over before putting their homes on the market. I’ve found that people tend to concentrate on family, friends and celebrating our great country’s birthday rather than house hunting. Speaking of, I wish you and yours a FUN and SAFE holiday weekend and if you’re still looking for ways to celebrate… here’s what’s happening around the peninsula:
1. 7/4 Best 4th of July Events in Monterey County 2015
2. 7/4 – 9/6- Evenings by the Bay at the Monterey Bay Aquarium
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