The real estate market in Carmel and Pebble Beach is very unique and to help you get a better understanding of market performance we publish this weekly summary of real estate transactions for Carmel and Pebble Beach. There is also a 120 day sales and median price data for homes in Carmel at the end of this section. Previous weeks information can be found on our Blog.
Homes in Carmel are just outselling real estate in Pebble Beach. Overall the Carmel real estate market seems to be buoyant ,and growing. In total there were six new listings and four sales this week. Good activity for Carmel and inventory levels are still dropping. The new listings for homes in Carmel are, on Camino Del Monte for $1.495M, on Camino Real for $1.379M, on Lasuen Dr. for $1.299M, on Cabrillo St. for $699K, on Dolores St. for $1.295M, and on Ocean Ave. for $2.7M.
There were three new listing for Pebble Beach, on El Toro Rd. for $975K, on Crescent Rd. for $3.295M, and on Costada Rd. for $1.349M.
There were no price increases for homes in Carmel or Pebble Beach.
Six homes decreased in price, continuing to prolong buyers believe that there is still room to negotiate on asking price. In Carmel four homes had a price decrease, on Carmel Knolls Dr. from $750K to $700K, on Lobos St. from $799.9K to $749.5K, on Canada Valley Dr. from $1.065M to $999K, and an REO on Morse Dr. from $823.5K to $799.9K. In Pebble Beach two homes had a price decrease, on Lookout Rd. from $849.9K to $827.9K, on Sloat Rd. from $895K to $775K.
Homes in Carmel and Pebble Beach appear to be rated a “buy” these days, especially among smart investors, who see a ripe market and potential for investment gains.The increased buying activity from investors and second-home purchases may be factors behind the recent pickup in real estate sales in Carmel and Pebble Beach.
This week there were four homes in Carmel that sold and five in Pebble Beach, seeming to endorse the comments above. In Carmel on Bay View Ave. for $2.515M after 336 Days on Market (DOM), on Casanova & 8th for $2.125M after 137 DOM, on North Carmel Hills Dr. for $393,525 after 21 DOM, on Mesa Dr. for $579K after 61 DOM. The Pebble Beach real estate sales were on Crest Rd. for $575K after 329 DOM, on Lariat Ln. for $699K after 276 DOM, on Forest lodge Rd. for $615K after 228 DOM, on Viscaino Rd. for $1.395M after 232 DOM, and on Benbow Pl. for $995K after 156 DOM.
For a larger picture of Carmel Real Estate sales, 71 homes have sold in the last 120 days (12/11/11 to 4/07/12). Ranging from $8,100,000 for a home on Scenic & 8th to $323,000 for a REO on Mission & 4th. Average DOM is 152 days and average $/sq. ft. is $592. 40 homes in Carmel were $1M or under and 33 of these homes were west of Highway 1.