At long last, the International Pop Festival returns to Monterey this weekend to commemorate the event that sparked a musical revolution. The local market lost momentum this week as new sales lagged from the previous two weeks – posting just 3 new sales across the board. The prime parts of Carmel snuck ahead to seize the weekly crown for its third week in a row while the Highlands area had activity to report for the first time in that same window.
A tale of two weeks for Pebble’s market as it posted mostly closed escrows (5) and just 1 new sale – contrary to last week’s performance of 1 closed escrow and 7 new sales. The top closed escrow came from the East side of coveted Padre Ln – a 90’s teardown with expansive ocean views that sold for $3.75M (6% off of List Price). The other closed escrows included a remodeled traditional-style home in between Stevenson and Spyglass Hill’s course that closed at $1.84M (12% off of List Price); a well maintained ranch style home in the Upper Forest that closed at the list price of $1.338M after being on the market for 7 days; a fully renovated 60’s ranch style home just North of Spyglass Hill’s 13th green that closed 1% over the list price of $1.299M and a major fixer with ‘good bones’ and views of a greenbelt that sold for $975K (19% off of List Price). The lone new sale is a small (1,663 sqft) ranch style home in the Country Club East area that’s listed at $1.149M.
Despite a mild slowing, Carmel’s market posted a respectable week with 7 closed escrows and 2 new sales. The top closed escrow came from the Carmel Point area – an oversized home (3,978 sq.ft.) on an oversized lot (7,500sqft) on Bay View Ave with peaks of the ocean that closed at $3.825M (3% off of List Price). The other closed escrows included an updated 80’s contemporary style home on 14th Ave with views of Fish Ranch that sold just 1% off of the list price of $2.48M; a recently built (’08) just opposite the Golden Bough in the heart of the Golden Rectangle that closed at $2.215M (3% off of List Price); a Mediterranean style home built in ’04 in SE Carmel that traded at $1.85M (1% over List Price); a partially updated 40’s Spanish style home on 2nd Ave in NE Carmel that closed at $1.6M (3% off of List Price); a dated cottage in the outskirts of NE Carmel that sold for $1.2M (3% off of List Price) and a ‘historic’ teardown in SE Carmel that sold for $870K (1% off of List Price). The top new sale comes from the outskirts of Carmel’s NE area – a partially renovated cottage (1,067 sq.ft.) with an ask of $1.276M. The other new sale is a 40’s teardown, also in the NE area, offered at $750K.
The Highlands area had activity to report this week with one closed escrow coming from the Southern end of Spindrift Rd on the West side of Highway 1 – a sprawling English manor estate (7,600 sqft), built in ’05 with filtered ocean views that closed at $5.441M. Worth noting that this property isn’t technically oceanfront, despite being on the Western side of Spindrift Rd.
Pebble Beach
CLOSED ESCROW – 1217 Padre Ln, $3.75M (6% off of List Price), DOM=112
CLOSED ESCROW – 1230 Silver Crt, $1.84M (12% off of List Price), DOM=178
CLOSED ESCROW – 4109 El Bosque Dr, $1.338M (Full Price), DOM=7
CLOSED ESCROW – 1141 Wildcat Canyon Rd, $1.3M (1% over List Price), DOM=6
CLOSED ESCROW – 1114 Sawmill Gulch Rd, $975K (19% off of List Price), DOM=44
NEW SALE – 3056 Larkin Rd, $1.149M, DOM=54
ACTIVE LISTINGS= 88 Homes (Country Club West=17, Country Club East=11, Central Pebble=33, Lodge=18, Upper Forest=9), 17 Lots
Carmel
CLOSED ESCROW – 2468 Bay View, $3.825M (3% off of List Price), DOM=59
CLOSED ESCROW – 2568 14th Ave, $2.48M (1% off of List Price), DOM=5
CLOSED ESCROW – Dolores 4SE of 9th, $2.215M (3% off of List Price), DOM=284
CLOSED ESCROW – Torres 9NW of 8th, $1.85M (1% over List Price), DOM=21
CLOSED ESCROW – 2nd Ave 2NE of Carpenter, $1.6M (3% off of List Price), DOM=29
CLOSED ESCROW – 24775 Valley Way, $1.2M (3% off of List Price), DOM=179
CLOSED ESCROW – NE Corner of Forest & 8th, $870K (1% off of List Price), DOM=13
NEW SALE – 5015 Lobos St, $1.276M, DOM=38
NEW SALE – Guadalupe 2SE of 4th, $750K, DOM=3
ACTIVE LISTINGS= 87 Homes (Carmel Woods=5, NW Carmel=18, NE Carmel=11, Golden Rectangle=22, SE Carmel=9, Carmel Point=12, Hatton Fields=10), 5 Lots
Carmel Highlands
CLOSED ESCROW – 174 Spindrift Rd, $5.441M (9% off of List Price), DOM=259
ACTIVE LISTINGS= 14 Homes (13 in Highlands – 6 oceanfront, 1 in Meadows), 5 Lots
Quail Lodge/ Preserve
No news to report.
ACTIVE LISTINGS= 7 Homes (2 in Quail Meadows, 5 in Quail Lodge), 2 Lots
Around Town
6/16: Summer Solstice Dinner
Cima Collina Hilltop Vineyard
$75-90
7:00pm
6/16: Peter and the Starcatcher
Golden Bough Theatre
$8-38
7:30pm
6/16-18: Monterey International Pop Festival
Monterey County Fairgrounds
$105-695
12:00pm - 11:00pm
6/18: Run in the Name of Love 5k
Carmel-by-the-Sea
$35-40
8:30am
6/21: Kids Summer Concert Series
MY Museum
$8
10:30am
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