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April 28, 2012

Carmel & Pebble Beach Real Estate News for Apr. 21st 2012

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 and Pebble Beach at the end of this section. Previous weeks information can be found on our Blog.

Homes in Carmel look like they are now competing with the lower end of the price scale real estate in Pebble Beach. Overall the Carmel real estate market still seems to be buoyant, and growing. In total there were nine new listings and nine sales this week. Strong activity for Carmel and inventory levels are still leveling off. The new listings for homes in Carmel are, on Camino Real & Ocean for $2.35M, on Camino Del Monte for $1.195M, on Ladera Dr. for $2.1M, on Valley Pl. for $975K, on Ribera Rd. for $880K, on Taylor Rd. for $2.245M, on Vizcaino Ave. for $1.275M, on Trevis way for $780K, and on Rio Vista Dr. for $796K.

At any time, you can easily find the latest listings by watching the New MLS Listings slide show on this page.

There were three new listing and one sale for Pebble Beach. The new listings are on Quarry Rd. for $1.75M, on Crest Rd. for $840K, and on Los Altos Dr. for $2.3M.

There were no price increases for homes in Carmel or Pebble Beach.

Eleven homes decreased in price, continuing to perpetuate buyers believe that there is still room to negotiate on asking price. In Carmel seven homes had a price decrease, on Dougherty Ct. from $998K to $875K, on 9th & Dolores from $1.795M to $1.475M, on Via Mar Monte from $1.795M to $1.675M, on Handley Dr. from $835K to $774.9K, on Mission from $999K to $948.5K, on Upper Trails from $785K to $735K, and on Dolores St. from $1.295M to $1.23M. In Pebble Beach four homes had a price decrease, on Lookout Rd. from $980K to $835K, on Viscaino Rd. from $3.2M to $2.9M, on Lookout Rd. from $849.9K to $825.9K, and on Porque Ln. from $2.595M to $2.395M.

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. Of course the 70+ weather over the weekend helps…

This week there were nine homes in Carmel that sold and one in Pebble Beach, seeming to endorse the comments above. In Carmel on Palou & Casanova for $2.105M after 773 Days on Market (DOM), on Carmelo St. for $2M after 177 DOM, on Eastfield Rd. for $745K after 161 DOM, on Dolores St. for $1.1M after 139 DOM, on Via Carmelita for $458.9K after 218 DOM, on Lazorro Dr. for $ 930K after 0 DOM, on Monte Verde & 7th for $1.025M after 3 DOM, on Upper Trails for $780K after 9 DOM, and on Ribera Rd. for $870K after 11 DOM. The Pebble Beach real estate sale was on Costado Rd. for $1,197,500 after 332 DOM.

For a larger picture of Carmel Real Estate sales, 77 homes have sold in the last 120 days (12/23/11 to 4/21/12). Ranging from $8,100,000 for a home on Scenic & 8th to $323,000 for a REO on Mission & 4th. Average DOM is 141 days and average $/sq. ft. is $582. 45 homes in Carmel were $1M or under and 35 of these homes were west of Highway 1. In Pebble Beach there were 47 real estate sales, from $6.4M for a home on Portola Rd. to $395K for a house on Shepherds Knoll. Average DOM is 200 days and average $/sq. ft. is $497.

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