From the desk of Nicole Truszkowski, your Weekly Luxury Market Report for Carmel and Pebble Beach Real Estate for the week of October 15th, 2015.
Whoa has it been a crazy two weeks; so busy in fact that I missed posting my blog last week, my apologies to my loyal followers. The luxury Real Estate market has kept me busy with 5 sales in the past few weeks and 3 upcoming listings. Stay tuned for more information on these upcoming properties, meanwhile; see below for the latest details on Carmel & Pebble Beach Real Estate.
Pebble Beach Real Estate
The Pebble Beach luxury real estate market shined bright with a high-end estate that re-entered the market at 12.5 million. This 9600 SqFt home is situated on a 2-acre parcel that stretches from street to street with expansive ocean views. This home has been steadily on and off the market since December 2012 with an original list price of 15.5 million. Now positioned at 12.5 million it appears the seller are serious about selling. Built in 1990 the home showcases exceptional bones, with minor updating it would appeal to many luxury buyers. In addition to this spectacular property, 5 new listings arrived on the market in the past two weeks. Six homes have gone pending and a grand total of 14 homes closed escrow. One of note is a center-front Ocean View estate on 17-mile drive that spent 661 days on the market. Originally listed for 13 million, this home sold for about 4.5 million less, at a price of 8.6 million. Some of you may remember this as the famous home that violated the Coastal Commission by building a mini golf course in front of the home, after lengthy lawsuits the mini golf holes were removed. Besides the lawsuit the home lacked interior design elements and luxury qualities that most buyers were looking for. Finally a reasonable sales price and excellent location did attract the right buyer. Not only are we seeing stale listings closing escrow; a Pebble Beach “fixer” with expansive Ocean views listed and sold in 4 days, with a list and sales price of 3.35 million.
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 continues to excel with 20 new listings these past two weeks. New to the market is an Ocean View residence on the coveted Carmel-by-the-Sea coastline that is Scenic Road. This home features panoramic views from Point Lobos to Pebble Beach and features a 6.9 million price tag. Last sold in 2001 for 3.35 million this home is a shining example of the healthy luxury Carmel real estate market. 15 homes have gone pending, including an oceanfront home situated in the sought-after Otter Cove area. This home spent 298 days on the market and at time of ratification was listed at 5.495 million and is scheduled to close November 16th. Lastly 13 Carmel homes closed escrow, one of note is the unique 3-parcel property with “shovel-ready” plans for a new home on Ocean View. This home spent a total of 191 days on the market, originally listed for 7.85 million and sold for almost a million dollars less at 6.9 million. In addition to this unique property, I’d like to update you on that dramatic Oceanfront home in Carmel Highlands that spent 714 days on the market; this home was essentially a tear down and had serious erosion issues but you couldn’t beat the location. Originally listed for 4.795 million the home finally sold for 3.925 million, a grand total of 870K less.
Click here to search the latest available Carmel homes for sale.
Quick Recap: With inventory and sales going up this past month, it could mean we’re in for a flurry of activity before everything grows quiet for the holidays. Stay in the know and continue to check in weekly as we monitor and report on the Monterey Peninsula Luxury Market.
Just a quick note, next Wednesday, the 21st, starts the Carmel International Festival, click on the link for more detail. Here’s what’s going on around town this weekend:
- 10/16 – Momix: Alchemia at the Sunset Center
- 10/17 – 35th Harvest Celebration with Hahn Family Wines
- 10/17 – Point Sur Lighthouse 10th Annual Ghost Tour
- 10/17 – Salinas Valley Food & Wine Festival