Monday Market Recap

We continued to see strong demand in Carmel, Pebble Beach, Carmel Highlands, the Preserve and Quail areas in January. Over the past week, we’ve seen 9 new listings hit, including 3 that are discreetly available and two that are already in escrow or closed. Inventory continues to struggle with demand, with 13 properties going into escrow and 11 deals closing. The top two listings are a new, modern house on Poppy Lane that’s listed for $6.795M and a fixer on Ondulado, above the Lodge, for $5.95M. The top new escrows were an off market sale on Stewart Way on Carmel Point (we’re representing the buyers) and a house on Riata Road that was on the market just 7 days and listed at $4.6M. Demand continues to be particularly strong for ocean view homes in downtown Carmel, with the top sale this week being a modern house on Scenic & 10th, which closed for $8.975M after just 2 days on the market.

Watch the video for Jess’ thoughts on how 2020 compared to the .com bubble, what we think might stick around for the future, and Dave’s tips on a few things to keep in mind regarding insurance in the due diligence and sales process.