Homes in Carmel are outperforming real estate in Pebble Beach. Overall the Carmel real estate market seems to be strong, and even growing. In total there were five new listings and seven sales this week. Good activity for Carmel and inventory levels are still leveling off. The new listings for homes in Carmel are, on Hatton Rd. for $1,795,800, on Dolores & 11th for $1.149M, on Val Verde for $1.9M, on Isabella Ave. for $3.795M, on Mission & 10th for $1.295M. At any time, you can easily find the latest listings by watching the New MLS Listings slide show on this page or by clicking on the address link.
There were six new listings and one sale for Pebble Beach. The new listings are on Viscaino Rd. for $4.195M, on Don Ln. for $2.95M, on Riata Rd. for $2.8M, on Padre Ln. for $4.6M, on Bird Rock Rd. for $1.198M, on Sawmill Gulch Rd. for $995K.
There were no price increases for homes in Carmel or Pebble Beach.
Nine 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 Casanova & 2nd from $2.198M to $1.56M, on San Antonio Ave. from $6.495M to $5.997M, on Monte Verde & 13th from $3.195M to $2.975M, on Rio Vista Rd. from $995K to $945K, a REO on Handley Dr. from $835K to $750K, on Mission St. from $999K to $898K, and on Dolores St. from $1.295M to $1.165M. In Pebble Beach two homes had a price decrease, on Portola Rd. from $5.25M to $4.45M and on Ronda Rd. from $3.9M to $3.49M.
Homes in Carmel and Pebble Beach appear to be rated a “good 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 seven homes in Carmel that sold and one in Pebble Beach, seeming to endorse the comments above. In Carmel on Monte Verde for $825K after 469 Days on Market (DOM), on Monte Verde & 13th for $1.825M after 371 DOM, on 14th Ave. for $2.35M after 214 DOM, on Flanders Dr. for $778 after 365 DOM, on Mission & 2nd for $1.15M after 86 DOM, on Guadalupe for $860K after 7 DOM and on 14th Ave. for $1M after 4 DOM. The Pebble Beach real estate sale was on Arrowhead Rd. for $720K after 35 DOM.
For a larger picture of Carmel Real Estate sales, 83 homes have sold in the last 120 days (1/06/12 to 5/05/12). Ranging from $8,100,000 for a home on Scenic & 8th to $323,000 for a REO on Mission & 4th. Average DOM is 154 days and average $/sq. ft. is $583. 49 homes in Carmel were $1M or under and 12 of these homes were REO properties. In Pebble Beach there were 49 real estate sales, from $6.4M for a home on Portola Rd. to $395K for a house on Shepherds Knoll and 8 were REO properties. Average DOM is 202 days and average $/sq. ft. is $501.