From the desk of Nicole Truszkowski, your Weekly Luxury Market Report for Carmel and Pebble Beach Real Estate for the week of November 20th, 2015.
My apologies for skipping last weeks update, things have gotten a little crazy in my household preparing for the holidays, but like they say, better later than never!! I think it’s safe to say we’ve skipped fall and landed right into winter with a drastic drop in temperature, not only with our weather, but the luxury real estate market showcased a significant dip as well, with Pebble Beach bordering on zero degrees. See below for details.
Pebble Beach Real Estate
Over the last 2 weeks the Pebble Beach Real Estate market experienced some frigid temperatures with 6 new listings this week and 2 the week before. That being said, we saw a 12.5 million dollar Pebble Beach estate built in 1950 come onto the market this past week; situated on the 14th green of the famed Pebble Beach golf course and located on the coveted 17- mile drive. I’d like to note that this home actually sold as an off market sale in April 2014 for $6,850,000. The current owner, recently added some fresh paint and carpet, however has done ZERO remodeling to justify a 50% increase in a list price a year later! The holidays are always a great time to list your home as inventory levels are low, and seller won’t have as much competition. Serious house hunters are out and about during the holiday season. Maybe this Pebble Beach homeowner is capitalizing on the low inventory and hoping to hook a gullible buyer? The saga of this over priced listing will be interesting to follow over the next several years it will most likely take to sell.
2 homes went pending the past two weeks, including another property on 17 mile drive that spent 129 days on the market with an original list price of 7.999 million and at the time of ratification had a list price of 6.7 million, this home is scheduled to close December 10th. 3 homes sold, one of note, an Ocean View estate overlooking the famed “lone Cypress”; this home only spent 15 days on the market, list price was 4.95 million and sold for 4.8 million.
Click on the link to search the most up-to-date information on available Pebble Beach homes for sale.
Carmel Real Estate
Carmel Real Estate exhibited some lukewarm temperatures this past week with 5 new listings and 7 listings the week before. One of note, a beautiful, spacious home in the coveted Carmel Point neighborhood; located on Bay View Avenue, this 4.8 million home spared no attention to detail with is 4000 Sq.ft of living space on an large 7800 Sq.ft lot. This abode last sold in 2004 for 3.78 million and spent some time on the market in 2009 with a list price of 5.54 million, but unfortunately expired off the market. Looks like the sellers are trying to cash-in on this better market with a realistic list price. 19 homes went pending in Carmel with 4 of these homes showcasing list prices of 1.4 – 2.2 million and spending 15 or less days on the market, and 2 of these homes were located in the sought-after Golden Rectangle neighborhood. Finally, 9 homes closed escrow; including a Carmel Cottage with an artists studio and close proximity to downtown Carmel-by-the-Sea that sold for 1.435 million and spent 8 days on the market.
Click here to search the latest available Carmel homes for sale.
That’s all for this week! From my house to yours wishing you and your loved ones a wonderful Thanksgiving celebration with cherished family and friends.
Stay tuned for next weeks luxury market update, until then, here’s what’s going on around town this weekend: