Monday Market Recap

- Of the regions we cover, there were 8 Closed Escrows this week, representing a slight drop from last week’s total of 12 sales.

Sales prices for the week ranged from $5.1M for a cottage style home in the heart of the Golden Rectangle to a $465K unit in the Hacienda Complex in the mouth of the Valley.

This brings the total investments for the week to $17.5M – down from last week’s total of $30.7M.

Average Days on Market for the week receded yet again, dropping down to just 10.6 DOM, which is below the recent low-water mark of 14.9 DOM.

There was a flurry of new activity last week with 24 new sales – ranging from a $6.5M. Ocean-view cottage on San Antonio Rd to a $779K rustic retreat in Big Sur.

-New inventory on the market rose slightly from the previous week with a 40% rise WoW. Will be interesting to see how these rising inventory levels impact velocity heading into May.

Other Items in the news:

The Development of a multi-residential complex North of Ocean on Dolores/5th has been sent back to the drawing board – due to inconsistency in design elements and size relating to Carmel-By-The-Sea’s standards.

Highway 1 reopens ahead of schedule much to the delight of Big Sur local restaurants, shops and camp sites.