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 are outperforming real estate in Pebble Beach especially at around the $1M mark. Overall the Carmel real estate market seems to be strong, and even growing. In total there were six new listings and six sales this week. Resonable activity for Carmel. The new listings for homes in Carmel are, on Mesa Dr. for $685K, on Ocean View Ave. for $3.995M, on Crespi for $995K, a REO on Torres for $570K, on Viejo Rd. for $1.45M, and on Dolores St. for $2.275M. 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 four new listings and three sales for Pebble Beach. The new listings are on 17 Mile Dr. for $2.495M, on Quarry Rd. for $2.195M, on Forest Lake Rd. for $2.99M, and on Old Dr. for $1.245M.
There were no price increases for homes in Carmel or Pebble Beach.
Seven homes decreased in price, continuing to sustain buyers feelings that there is still room to negotiate on asking price. In Carmel five homes had a price decrease, on Casanova from $2.45M to $1.995M, on Camino Real from $1.295M to $1.245M, on 13th Ave. from $3.15M to $2.899M, on Upper Trails from $785K to $699K, on Ocean & Carmelo from $2.7M to $2.5M. In Pebble Beach two homes had a price decrease, on Lopez Rd. from $899K to $749K, on Coyote Rd. from $1.599M to $1.495M.
Real estate in Carmel and Pebble Beach appear to be rated a “good buy” these days, especially among savvy 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 six homes in Carmel that sold and three in Pebble Beach, seeming to endorse the views above. In Carmel a REO on Rio Vista Dr.for $710K after 184 Days on Market (DOM), on Oliver Rd. for $630K after 183 DOM, on Vizcaino & Mt. View for $950K after 72 DOM, on Casanova & 2nd. for $1.55M after 72 DOM, on Santa Rita & 1st for $699K after 9 DOM, and on Guadalupe St. for $925K after 15 DOM. The Pebble Beach real estate sales were on Viscaino Rd. for $1.05M after 197 DOM, on Stevenson Dr. for $1.55M after 98 DOM and on Arroyo Dr. for $1.35M after 64 DOM.
For a larger picture of Carmel Real Estate sales, 84 homes have sold in the last 120 days (1/13/12 to 5/12/12). Ranging from $8,100,000 for a home on Scenic & 8th to $323,000 for a REO on Mission & 4th. Average DOM is 151 days and average $/sq. ft. is $593. 47 homes in Carmel were $1M or under and 11 homes were REO properties. In Pebble Beach there were 46 real estate sales, from $6.4M for a home on Portola Rd. to $395K for a house on Shepherds Knoll and 6 were REO properties. 20 homes were $1M or under. Average DOM is 179 days and average $/sq. ft. is $497.