From the desk of Nicole Truszkowski, your Weekly Luxury Market Report for Carmel and Pebble Beach Real Estate for the week of May 21st, 2015.
Looks like sellers are getting the memo, it’s time to sell and Pebble Beach officially entered its hat into the ring! Carmel is still in the lead with sixteen new listings this past week, however, Pebble Beach boasted ten new listings, a huge jump from previous weeks!! Even with increased inventory levels we are still trending shorter DOM (Days on Market). Sellers, read our blog post below to learn lessons relating to pricing your home correctly. See below for the full details.
Pebble Beach Real Estate
The Pebble Beach Real Estate market, our local sleeping giant, has decided to wake up and boy did it ever with TEN new listings this week!!! The most luxurious home to hit the market last week is located on the famed 17 mile drive and sits along the 2nd green of the Pebble Beach Golf links. This beautiful Mediterranean estate has an interesting history; it last sold in 2004 for $6,750,000 and has been on and off the market since 2005. If you remember, 2005 was the beginnings of the real estate recession. In 2005 it hit the market at 9.750 million, and then in 2010 it came back on the market at 17.5 million. Today it is now listed for 13.75 million, I think the sellers have now found the Sweet Spot on list price, I predict a buyer will snag this gem soon. The irony of the situation is I represented a buyer for this home a few years back, we wrote over today’s list price all cash, 14 day close. The seller took two weeks to respond to our offer, my buyer was so frustrated he went and bought another house. Lesson be learned respond to offers when they come in…these sellers have been on market for 10 years!
Four new escrows this week, up from two last week. I think we’ll see more escrows in the upcoming weeks if the inventory continues to rise in Pebble Beach. Four homes sold this past week, including a charming Spanish Mediterranean located in the Country Club West neighborhood. This abode had been on and off the market since 2006 starting with an original list price of 2.495 million. Over a 7 -year period and several price reductions this home finally sold for 1.6 million on the same day it was listed. Finally a bull’s-eye on list price after 7 years!!!!
Click on the link to search the most up-to-date information on available Pebble Beach homes for sale.
Carmel Real Estate
Can you say HOT really HOT! We’re still seeing tons of activity in Carmel’s Real Estate market, SIXTEEN new listings hitting the market last week. A brand new luxurious listing situated in the prestigious Santa Lucia Preserve entered the market this past week. A dreamy estate, showcasing everything you can imagine, complete with a media room, fitness room, huge wine cellar, and an infinity pool. A great luxury bargain offered at 8.818 million. Carmel boasted ten pending sales last week with shorter days on the market still trending. An abode located on Guadalupe & 1st spent just TWO days on the market. It was last sold in 2011 and since then has been extensively remodeled. It’s listed for 1.449 million and is scheduled to close on June 19th.
Eight homes closed last week in Carmel. Worthy of note is a home located in the Highlands with expansive ocean views. This home spent nineteen days on the market before going in to contract and sold for 45K less than the ask price at 1.65 million.
Click here to search the latest available Carmel homes for sale.
As you can see, things are really starting to heat up. In addition to shorter DOM, I’m seeing homes that have either sat on the market for a while or have gone on and off the market for a couple years; they’re starting to see some action. This could be due to lower than average inventories which supports a seller’s market because there are definitely buyers out there. These homes are also finally listed at the right price and attracting buyers. I can’t stress enough how important it is to price your home to sell, by doing so in this market you can attract multiple offers which in turn, will raise the sales price. As always, if you’re thinking about selling your home and wish to get it on the market for the summer season, please don’t hesitate to contact me for a free market analysis and to discuss how I can get you the best price in the least amount of time!
It’s Memorial Weekend, I want to wish everyone a fun and SAFE holiday! There are quite a few activities going on around the Peninsula this weekend in case you are looking for something to do:
1. 5/22 – Boz Scaggs at the Sunset Center in Carmel
2. 5/22 – 5/24 – California Roots Music & Art Festival at the Monterey County Fairgrounds
3. 5/23 – Barnyard Food, Wine & Beer Celebration in Carmel
4. 5/23 – 5/25 – May Fest Monterey Bay at the Custom House Plaza in Monterey
5. 5/25 – Memorial Day Concert at Colton Hall in Monterey