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May Newsletter

Dear Friends,

Summer is almost upon us, and so are the annual Summertime extravaganzas! The annual Carmel Art Festival kicked off today in downtown Carmel-by-the-Sea, with the main events beginning tomorrow on Mission Street. There will be a painting competition and various tents up and down the street. The events will go until Sunday and bring even more visitors to our little town, many of whom pour over into the art galleries and shops, and eventually the tasting rooms and restaurants (and of course the real estate offices!). This is also a great way for locals to be part of their community.  Another exceptional event taking place this month is also this Saturday- The Quail Motorcycle Gathering in it’s seventh year, takes place at Quail Lodge, out in sunny Carmel Valley, and is put on by Peninsula Hotels. This is an assembly of the finest motorcycles from around the world, from one-off prototypes, to antique and modern, to historic race winning cycles from every decade. This event is the younger sibling of the “Quail” (one of my very favorites), which takes place on Friday during Concours Week every August, and focuses on all vehicles of notable, famous and often historic stature. The Quail Motorcycle Gathering this weekend is the elite of the elite, and draws an eclectic crowd from all over. I hope to see a few of you there.

On to the real estate! As is typical, April brought the buyers out of the woodwork for the usual, post tax deadline flurry. We’re seeing most of the out of town business coming from the Bay Area and Texas.  Much of the remaining Winter inventory in the $1M to $2M range was snapped up. Buyers in that range seem to be motivated by the Fed’s promises to finally raise interest rates. Different forecasts show around a 1%  rise by year’s end, from around 4% to 5%, but we’ll see. The Fed has also made comments about it’s intentions of raising rates very gradually, so as to keep the market healthy, which is good because, in relation to Silicon Valley and the overall S.F. and Bay Area markets (which are on fire at insane levels) our market is healthy and moving in flurries of new sales, and then brief calms. We don’t have quite the velocity of our friends up North, so a quick spike in rates would probably mean a flat market here awhile. So far, the news sounds to be good and our market continues to stabilize more and more…..

In other news, our team was featured in the “Realtors of the Peninsula” section of 65 Degrees magazine this current Summer issue. We’ve also grown by one team member and have some very cutting edge marketing rolled out for the season, and a freshly redesigned and advertised website, specifically targeting the high-end, to feature your properties to prospective buyers from all over.

As always, please reach out with any real estate questions, or estimate needs, for you or anyone you know. We are making a push for additional inventory this month, and always appreciate the support. Scroll down for market activity by area…….

Cheers,

Ryan & Team

Carmel-by-the-Sea Real Estate

Carmel-by-the-Sea real estate is currently at 17 available homes, with 6 completed single family residence transactions during the month of April.

Carmel Real Estate

Carmel real estate is currently at 141 available homes, with 27 completed single family residence transactions during the month of April.

Pebble Beach Real Estate

Pebble Beach real estate is currently at 65 available homes, with 11 completed single family residence transactions during the month of April.

Carmel Valley Real Estate

Carmel Valley real estate is currently at 45 available homes, with 3 completed single family residence transactions during the month of April.

Carmel Highlands Real Estate

Carmel Highlands real estate is currently at 8 available homes, with no completed single family residence transactions during the month of April.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

 

 

Dear Friends,

We are at the start of the selling season! The annual Pebble Beach Food & Wine event kicked off earlier in the month, wherein foodies and wine lovers from all over the country, and the world, rushed in to satiate their appetites at the ultimate, star studded, culinary extravaganza. Celebs like Guy Fieri, star of “Diners, Drive-Ins and Dives”, dished out their favorite cuisines with all the right pairings alongside Pebble Beach’s famed golf courses and coastline. The Monterey Peninsula continues to impress with many of the world’s most elite events, all of which are a magnetic draw for real estate aficionados and connoisseurs, alike. We are all so fortunate to live in a place offering such an unparalleled combination of relaxation and recreation.

2015 is starting to look like another prosperous year in real estate. After the usual seasonal slowdown in new home sales in Carmel, Pebble Beach and the other high-end niche markets of the area, the tail end of March picked up rather quickly, eliminating much of the existing inventory from the market. Many of these new, pending sales from March have completed during the month of April, with the trend seemingly continuing into May. While we didn’t see quite the same level of growth in 2014 that we witnessed in 2013, the lack of inventory is likely to raise prices further over the Spring and coming Summer, creating an increasingly seller’s market. That said, sellers will need to pay a close eye to rising interest rates, which could impede the velocity of the market, albeit more so in the low to mid range, versus the high-end markets of Carmel and Pebble Beach, which are primarily cash and equity driven.

As always, thanks for following, and here’s to a killer 2015 real estate season.

Cheers,

Ryan & Team

Carmel by the Sea Real Estate

Carmel-by-the-Sea real estate is currently at 17 available homes, with 5 completed single family residence transactions during the month of March.

Carmel Real Estate

Carmel Real Estate is currently at 143 available homes, with 37 completed single family residence transactions during the month of March.

Pebble Beach Real Estate

Pebble Beach real estate is currently at 67 available homes, with 10 completed single family residence transactions during the month of March.

Carmel Valley Real Estate

Carmel Valley real estate is currently at 43 available homes, with 8 completed single family residence transactions during the month of March.

Carmel Highlands Real Estate

Carmel Highlands real estate is currently at 7 available homes, with 3 completed single family residence transactions during the month of March.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

Dear Friends,

One of my two favorite event weeks is upon us! Next week kicks off the AT&T Pro-Amateur Celebrity Golf Tournament. Since I was a kid, my parents and I would help Ron Faia and the gang in the Carmel Youth Center Tent out on the 14th Fairway at Pebble Beach. The wind would be blowing the tent over, heavy showers prompting everyone on the course to seek shelter under our 2 foot overhangs, and yet there we would be serving up hot dogs and poor boys, Heinekens and cigars, oblivious to the torrential downpour and violent storm on the verge of yanking our tent out of the ground and disposing of it in the sea below. We were living! This has far and wide been the story for many an AT&T, and something that makes it unique, drawing people from around the world to want to brave the elements with us in style. We hope to see you there again this year. We will be!

The Carmel and Pebble Beach real estate markets have kicked off again in the last couple of weeks.  More listings, more properties going into contract and more buyers entering the market and engaging again. After a couple of sleepy months, it is nice to see things pick back up again from their seasonal lull. As many know, we have had low inventory levels, which make it a good time to be a seller and harder to be a buyer. Interest rates have dropped, yet again, to 3.66% for 30 year fixed (Freddie Mac). And to that point, any of our friends and clients that are thinking about a refi, or who have not refi’d and have a higher rate, you ought to initiate that right now while the window is open. Feel free to call me and I can recommend someone good based on your situation.

Last week Ryan Melcher Properties won a David Lyng Real Estate President’s Club Champion Award for having top sales numbers. David Lyng Real Estate is the #1 brokerage in the greater Monterey and Santa Cruz County, with a total of 5 offices, specializing in luxury real estate and marketing.  Today we closed a really neat, mid-century, quintessential Carmel Valley rancher home, complete with pool and overhanging Royal Palm, out by the Los Laureles Lodge for $1.255M…a real treat. The market is moving!

Thank you to all our friends for your continued support, and as always, if you or someone you know is thinking of buying or selling a property, please refer them to us and we will make sure they are well take care of.  Please scroll down for the January numbers…. Note: blog.ryanmelcher.com will be down sometime tomorrow, probably in the evening, for a full site conversion. We have an all-new design and active Google advertising platform going live this month.

Cheers,

Ryan & Team

Carmel Real Estate

Carmel real estate inventory is currently at 133 available homes, with 18 completed single family residence transactions during the month of January.

Carmel-by-the-Sea Real Estate

Our local MLS has recently added a “Carmel-by-the-Sea” city location. Some homes in this location are still populating in “Carmel” and visa versa.  MLS Carmel-by-the-Sea real estate inventory is currently at 24 available homes, with 3 completed single family residence transactions during the month of January.

Pebble Beach Real Estate

Pebble Beach real estate inventory is currently at 67 available homes, with 7 completed single family residence transactions during the month of January.

Carmel Valley Real Estate

Some areas of Carmel Valley that have historically been considered the Valley, are now populating in our MLS as “Carmel”. We will see if they stick with this but for now…. Carmel Valley real estate inventory is currently at 37 available homes, with 6 completed single family residence transactions during the month of January. What you and I think of as the “Valley” is a bit more active than that. Apologies for the variance.

Carmel Highlands

Carmel Highlands real estate inventory is currently at 8 available homes, with 1 completed single family residence transaction during the month of January.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

 

Happy New Year!

New Year’s Eve kicked off this go ’round with Monterey’s annual First Night Celebration on Alvarado Street in downtown Monterey. Pebble Beach Company and Spanish Bay threw their own shindigs, but we opted for dinner at The Bench, the restaurant on the 18th green in the Pebble Beach Lodge. If you ever go there, and you fancy yourself a fan of martinis, I strongly support you in trying the Stoli Vodka martini, dirty, with bleu cheese stuffed olives….the best!   Anyway, we wrapped dinner and ended up in downtown Monterey, where the city has taken on a recent transformation for the better- many of the older restaurants have gone out, replaced with newer, more upscale destinations, such as the Alvarado Street Brewing Company, a very chic, larger establishment with giant, brass brewing facilities in the window that seems to tie the upper and lower portions of the downtown district together nicely. Several of our friends chose either 1833 or My Attic, both higher-end retro lounges to ring in the new year; we chose My Attic to end the night. A great time all around, and even greater to see the quality of Monterey’s attractions and crowds improving so much.

We wrapped 2014 real estate with healthy gains just over 5%, statewide. Volume was down about 3.4%, year over year, but that seems likely due to the shortage of inventory, and not because people weren’t trying to get into the market. Numbers fell slightly October and November, which is typical of this time of year, although I felt that serious buyers came out of the woodwork over the holiday more than ever, this year- a good sign for next year. Another exciting piece of the puzzle was that interest rates stayed low again this year, even falling for a moment below 4% again. As always, local numbers trumped statewide numbers, and we’ll have those for you next month.

While my brokerage, David Lyng, continues to be the leader in the greater Monterey Bay, with the greatest number of agents and volume, my team, Ryan Melcher Properties, finished up the 4th quarter strong, with a handful of closed transactions all in the high-end. This month we’re hoping to roll out the new website and marketing campaign targeting out-of-town buyers, which we’re very excited about. Nothing like it in town!

Another great year on the books.

Cheers,

Ryan

As always, please think of us if you or a friend needs representation. Please scroll down for market activity breakdown by area.

Carmel Real Estate

Carmel real estate inventory is currently at 121 available homes, with 17 completed single family residence transactions during the month of December.

Pebble Beach Real Estate

Pebble Beach Real Estate inventory is currently at 57 available homes, with 7 completed single family residence transactions during the month of December.

Carmel Valley Real Estate

Carmel Valley Real Estate inventory is currently at 35 available homes, with 7 completed single family residence transactions during the month of December.

Carmel Highlands Real Estate

Carmel Highlands Real Estate inventory is currently at 9 available homes, with 1 completed single family residence transaction during the month of December.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

Dear Friends,

We finally had some rain! Two separate storm fronts in the last month, and even a multi-day storm expected to roll in tomorrow. All I can say is we NEEDED it. With some of our water well tests coming back over the Summer at less than positive numbers, we could use some help with the local water table. Anything to push those raw land deals along!

This past Friday evening, Carmel held the annual Christmas Tree lighting ceremony, and after one of the longest droughts on record, it was completely rained out in one of the most torrential downpours I’ve seen in a long time. Upon arrival, we ran across the street, already soaked to the bone, and bought the first celebratory umbrella we could find. The rain let up right as it was time to light the tree, and by then most people had scattered into the nearby restaurants and bars to take cover. We caught the tail end of the commencement Christmas song by Myles Williams on the mic, and then darted through the Wells Fargo parking lot to local favorite restaurant, Tommy’s Wok, to meet friends and family. I’ve never seen it so crowded! We wrapped up the evening at Boucheè, which is a great fine dining French restaurant off of Ocean on Mission Street. Highly recommend.

Real estate-wise, Carmel and Pebble Beach slowed down a bit for the holidays. We historically get our typical flurry of business from about the week after Thanksgiving through the week leading up to Christmas. It feels like that is happening a little bit again this year. Then things slowly pick up again after the New Year.

Some exciting news: Ryan Melcher Properties is rolling out the most robust, state-of-the-art digital advertising in our area. We’re getting an all new face lift, multiple new websites directed at each area to showcase your home to buyers in Silicon Valley, SF, Southern CA, Texas, New York and New England, Fresno, and overseas to name a few! We now have a full-time digital marketing team on staff to provide a totally customizable solution to get your properties in front of the most buyers. This is unique to Ryan Melcher Properties and not to any other team or agency in town! Without giving away all our secrets, just know that your family and friends that you refer to us next year will be in the best hands in town, and we appreciate all your continued support. Happy Holidays and here’s to a smashing end to 2014!

As always, please think of us if you or a friend needs representation. We subsist almost entirely upon referrals from you. Please scroll down for market activity by area.

Cheers,

Ryan & Team

Carmel Real Estate

Carmel real estate inventory is currently at 139 homes, with 40 total completed transactions during the month of November.

Pebble Beach Real Estate

Pebble Beach real estate inventory is currently at 60 available homes, with a total of 6 completed transactions during the month of November.

Carmel Valley Real Estate

Carmel Valley real estate inventory is currently at 44 available homes, with a total of 5 completed transactions during the month of November.

Carmel Highlands real estate

Carmel Highlands real estate inventory is currently at 9 available homes, with a total of 9 completed transactions during the month of November.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

Dear Friends,

As the days grow shorter, the nights colder and the holidays nearer, some buzz persists in our quaint little town. This last weekend was the annual Big Sur Food & Wine festival, and we headed out to the Grand Tasting at Pfeiffer State Park with some good friends to celebrate life and the pursuit of happiness. Back in town, clear Winter skies proved good beach weather for us locals and our dogs. We took our St Bernard, Charlie, to Carmel beach, and he galloped directly into the crashing waves, to the delight of onlookers. Nothing beats throwing on a fleece and taking the dog to the beach on a brisk Winter day, latte or cappuccino in hand compliments of Carmel Valley Coffee Roasting Company.

While our real estate season isn’t at it’s peak, we’re maintaining some decent velocity going into the holidays. New inventory is falling a bit, as is normal this time of year, so it can still be an advantageous time to be a seller, with less competition. Last month we closed a nice, newer construction listing of ours in the downtown area from a $2.1M list. This evening we listed a $1,249,000 ocean view home in the Carmel Views area. You can see Point Lobos in the distance. Things are continuing to move, tourism remains strong as we exit Indian Summer, and I for one welcome the changing season. It has been a good year.

As always, please think of us if you or a friend needs representation. We subsist almost entirely upon referrals from you. Please scroll down for market activity by area.

Cheers,

Ryan & Team

Carmel

Carmel real estate inventory is currently at 123 available homes, with 34 total transactions occurring during October, ranging from $270K to $4.95M.

Pebble Beach

Pebble Beach real estate inventory is currently at 68 available homes, with 16 total transactions ranging from $608K to $31.25M.

Carmel Valley

Carmel Valley real estate inventory is currently at 82 available homes, with 10 total transactions ranging from $365K to $1.15M.

Carmel Highlands

Carmel Highlands real estate inventory is currently at 25 available homes, with 1 transaction at $1.425M.

What a month we’ve had! Some great sales, prime new listings, even better clients and the Summer still shows no sign of slowing down. As some may know and some not, Carmel & Pebble Beach weather gets better as we get out of Summer and into Fall, and better yet as we edge into the holidays. Indian Summer is upon us and the tourists and would-be buyers are still flooding in to join us in our quaint little paradise. For our locals, we’re about a month into “back to school” and the market has temporarily shifted a bit to more vacation home buyers than current residents. It is still a great time to list through October, as the market has been humming along just up to Thanksgiving in recent years.

Some good news for the real estate industry this month- the Fed just announced they will be keeping interest rates down for the foreseeable future, which we all hope will ensure more sales and more equity growth next year and beyond. This Sunday we have a new listing coming up on Carmelo & 12th NW Corner in Carmel-by-the-Sea. List price of $2.795M and ocean views. This is a 2 bed, 2 bath in a very prime location. Please come out and see us on the following weekend for open house.

I will wrap up here- we had such a great month that this newsletter comes a bit later than usual, and October’s newsletter should follow in about 2 weeks. Thanks to all of you for your continued support. Please scroll down for the Carmel / Pebble Beach August statistics.

Cheers,

Ryan & Team

As always, if you know someone who is considering buying or selling a home, please give me a call. I will provide superior service, in-depth market knowledge and thoughtful guidance through the entire process. Please scroll down for the market breakdown by area.

Carmel

Carmel real estate inventory is currently at 121 available homes, and 8 lots, with closed transactions up slightly from 32 for the previous month to 33 for August, ranging from $638K to $3.3M. No lot sales.

Pebble Beach

Pebble Beach real estate inventory is currently at 69 available homes and 11 lots, with closed transactions down from 11 to 8 for August, ranging from $683K to $2.68M. There were 2 lot sales at $225K and $1.4M.

Carmel Valley

Carmel Valley real estate inventory is currently at 85 available homes and 60 lots, with closed transactions up slightly from 16 to 18 for the month of July, ranging from $287K to $1.455M.

Carmel Highlands

Carmel Highlands real estate inventory is currently at 25 available homes and 7 available lots, with closed transactions up from a flat 0 to 1 transaction at $900K for the month of August.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

As I ran down Bird Rock this morning, in the Country Club West area of Pebble, I couldn’t help thinking how fortunate we are to experience such an incredible area. I grew up in Carmel Valley, going to the Beach Club with my mom and dad when sunny days permitted, but as I ran along 17 Mile, watching the waves in the fog today, I couldn’t have felt more blessed. What a special place! Each of our magnificent areas, whether 85 degrees in the Valley sun, or 60 along the beach in Carmel or Pebble Beach, offers something so unique to that specific area, that I am constantly falling in love with each of them on an ongoing basis. In any case, I am feeling grateful today.

This past Sunday marked the final day of our area’s most popular event, Concours Week here on the Monterey Peninsula. We had a successful office party at our main office on Lincoln between 7th and Ocean Avenue, on Tuesday, and then various other events, including the McCall’s event at the Monterey Jet Center,  the “Quail” on Friday at Quail Lodge in Carmel Valley and the Concours Italiano out at Black Horse Bayonet Gold Course in Marina, the Historic Auto Races on Saturday at Laguna Seca Raceway,  and finally, the Creme de la creme of the week, the Concours d’Elegance on the 18th hole at the Lodge at Pebble Beach. What a fantastic time we all had. We did not have much business during this time because, contrary to popular belief, the car fanatics that are here during this time generally wait until a later date to return to the Peninsula to look at real estate (which is fine with me as I am one such fanatic). All in all, however, excellent exposure for our area to a slough of new future buyers.

July was a great month for my team and me, followed by what is looking like another solid month.  This Sunday, we have gorgeous new construction home in downtown Carmel-by-the-Sea coming to market at $2.099M. This property has filtered ocean views, a luxurious master bathroom and all the amenities. While using the highest quality marketing materials and photos, we have also had our video team into the property to take a video, which we have edited with voice over to release to our local broker network, the internet and our Luxury Real Estate affiliates network for maximum exposure.

Our local real estate market is hot! We have active buyers all over the place, coupled with a resulting lack of inventory. This can equate to a lot of frustration and some additional price increases. While you won’t necessarily get an outlandish asking price for your property, now is a great time to be a seller. If you’re a buyer, jumping quickly on an opportunity can turn the tide in your favor. As they say, strike while the iron is hot! Interest rates have stayed about the same for the past few months, hovering right above 4% for a 30 year fixed rate.

As always, if you know someone who is considering buying or selling a home, please give me a call. I will provide superior service, in-depth market knowledge and thoughtful guidance through the entire process. Please scroll down for the market breakdown by area.

Cheers,

Ryan

Carmel

Carmel real estate inventory is currently at 125 available homes, with closed transactions up from last month at a total of 32 during the month of July, ranging from $399K to $5M.

Pebble Beach

Pebble Beach real estate inventory is currently at  77 available homes, with closed transactions up from last month at a total of 11 during the month of July, ranging from $796K to $3.65M.

Carmel Valley

Carmel Valley real estate inventory is currently at 85 available homes, with closed transactions staying exactly the same at 16 for the month of July, ranging from $156K to $1.3M.

Carmel Highlands

Carmel Highlands real estate inventory is currently at 23 available homes, with no closed transactions last month.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

Dear Friends,

Real estate picked up again during April, the close of tax season. I’m happy to report that new listings and more active buyers have followed, including a new listing that I brought to market yesterday in the Miramonte area of the Valley, next door to Bernardus Lodge. I have a good feeling about this season; it should be a great time to list with Summer in front of us and healthy real estate forecasts.

Cinco De Mayo is coming up, with local festivities planned at popular watering holes like Baja Cantina. We also have Memorial Day Weekend, which should bring another influx of interested real estate seekers. This week brought us a heat wave that I’m hoping will continue into Summer and get people off the fence and buying up properties in time for Summer.

As always, if you or someone you know is thinking about buying or selling, please call me directly. It’s never too early to get a jump on something, even if you’re not planning on making a move for a few months. And now onto the update….

Cheers,

Ryan

Carmel Real Estate

Carmel inventory is down from 125 to 119 available homes. Closed transactions dropped from 24 to 20, with all but about 4 either near the downtown or Carmel Point areas, and with prices ranging from $725K to $3.3M. The highest priced closing was on Carmel Point at 26276 Camino Real for $3.3M. This was a newer, very well done home at over 2,600 sq ft with a Craftsman flare. There were some interesting sales, including a pied a terre that fetched a premium of $1.9M just off Ocean in the commercial district at the NW corner of Lincoln & 5th, and an over-sized, split level, dated home with a pool at Carmelo 4 SW Ocean. I don’t often see pools in this area. New, pending sales have picked up quite a bit; at the time of this report, there are currently 36 pending transactions from the month of April, up from 24 the previous month. 7 pending sales are over the $2M mark, the highest being a brand new, spec home at 2992 Franciscan Way that sold the first day on market from an asking of $3.595M. There seems to be a push towards new construction sales in the $2M to $3.5M range that’s bringing quite a few new builders to market. There were 2 closed land sales; a standard 4,000 sq ft lot on Monte Verde & 9th sold for $900K, and a parcel at the mouth of the Valley in the Carmel Views area sold for $425K.

Pebble Beach Real Estate

Pebble Beach inventory is up from 58 to 65 available homes. Closed transactions last month ticked upwards ever so slightly from 10 to 11. For April, Pebble didn’t break the $3M mark, and the high, high-end seems to have taken a small break. The highest priced closing was a beautiful ocean and course view home at 2877 17 Mile Drive for $2.895M, while the most notable was probably a stunning 80’s contemporary 1545 Venadero Rd, just up from the Lodge and centrally located, for $2.65M. At the time of this report, new, pending sales from the month of April stayed at 13, the same as the previous month. Most notable was a new construction, California contemporary of the utmost quality and materials at 3136 Stevenson Drive, from an asking price of $2.69M. While the market for this immediate location usually does not command these types of prices, a buyer saw difference in quality and opted to pay a premium. There was one vacant lot that closed at Sunridge & Sunset for $300K.

Carmel Valley Real Estate

Valley inventory is up slightly from 83 to 85 available homes. Closed transactions last month rose from 15 to 21, ranging from about $750K on Laurel Drive closer to the Village, to $3.825M in the Santa Lucia Preserve. $3.825M was the highest number for the month at 6 Rumsen Trice, which was a somewhat recent construction, beautiful Spanish hacienda style compound with views of the hills. Also quite notable was a sale in the Quail Meadows development at 5463 Quail Meadows Drive for $3.56M. This was a private, sophisticated, European Heritage home of over 5,500 sq ft and views of the Valley. New sales dropped from 29 down to 16 for the month, something which I think is due to a lack of inventory for this area. We saw action in both Quail Lodge and Carmel Valley Ranch developments, as well as the Los Laureles Grade area. Most notable was probably a river-side home at 59 East Garzas Road from an asking of $1.795M- elegant, flowing floor plan, high ceilings and newer construction.  There were 2 closed vacant lot sales, both in the Preserve, and both on San Clemente for $600K and $365K, respectively. Two pending lot sales: one on Asoleado in the Preserve from an asking of $299K, and another on San Clemente from an asking of $439K.

Carmel Highlands Real Estate

The Highlands inventory rose a bit from 23 to 25 available homes. Closed transactions came up from just a single sale the previous month, to a total of 3 for April. As is somewhat typical, all three sales were over $1M, and two were far over. The most notable was at 155 Highway 1, which a newer, modern, if not Tony Stark-esque home cascading over the edge of the cliff and into the whitewater below. Truly a phenomenal property for $5.75M. Another high-dollar sale was at 106 Yankee Point Drive for $4.85M. This was a large, single-level view home on the edge of the water. No vacant lot sales of any kind.

Disclaimer: The numbers and activity represented in this report were drawn directly from the MLS, the California Association Of Realtors, Freddie Mac and other sources, and are generally accepted as correct but are subject to change and/or mistakes.

Dear Friends,

Things are looking strong for the selling season this year. I’m expecting some nice price increases over the course of the Summer, as well as some heavy buying volume. Quite a few of you are headed to town after the April 15th tax filing deadline to look at properties with me. Normally, I see a strong influx around this time, as people have a better idea of how much they can afford to spend on a new home or vacation property. You are the ones that drive the prices up and keep our market healthy and a great place to invest, so thank you!

March carried over the nice momentum we had going in January, with a slight increase in trade activity. Most of the higher-end outside activity I am seeing in the market continues to come from the Bay Area (San Francisco, Silicon Valley, Marin, etc), Southern California (Los Angeles, San Diego, Santa Barbara, Montecito), Central Valley (agriculture), Texas and the Northeast Coast (Boston, NY, etc). We’re also experiencing a lot of new offshore activity from China, predominately focused on the Pebble Beach golf course areas. Much of the new inventory has been coming to Carmel and Carmel Valley, rather than Pebble Beach, as I can personally attest to with my next two upcoming listings in Carmel and Carmel Valley, respectively. I am also in the process of implementing some very targeted marketing to the aforementioned West Coast and East Coast areas, in an effort to greatly increase my qualified buyer pool for the benefit of my higher end sellers. I’m expecting this to bring my client’s properties maximum exposure to those more qualified buyers, versus the typical way of advertising only to the general, local public (which we also do).

I wish you all the best, and a stellar 2014 real estate season. Don’t forget to buy your tickets to the annual Pebble Beach Food & Wine next week. Below please view my March Carmel & Pebble Beach Market Report.

Cheers,

Ryan

Carmel Real Estate

Carmel real estate inventory is up from 116 to 125 available homes. Closed transactions ticked up from 23 to 24, with about half concentrated in the Prime areas of the Golden Rectangle and Carmel Point from about $1M to $1.5M. The Rectangle, the Point and Carmel Meadows picked up best in show last month with the top 3 highest prices. An enchanting European cottage sold on the Northeast Corner of Casanova & 12th for $3.5M, a sophisticated, if not eccentric, reversed floor plan with ocean views sold at 2465 Bay View Avenue for $3.4M and a dramatic, large ocean view craftsman sold on the East side of Highway 1 in the Carmel Meadows for $2.9M. Other closings of note were a charming Carmel pied-a-terre cottage just North of Ocean Ave at Monte Verde & 5th for $1.9M, a Carmel Point fixer-upper for $1.485M at 2479 17th Avenue and a vintage Carmel cottage in excellent repair on San Carlos & 13th for $1.2M. There are 24 new and currently pending sales from the month of March, most notably a home at Scenic 7 SW of Ocean from an asking price of $2.895M for a quirky 2 story floor plan but ocean views from a prime area not usually accessible in this range. Other new pending sales of note were a beautiful, over-sized Carmel Point cottage with Carmel Valley Views from an asking of $2.295M and a new construction, ocean view Tescher home on the corner of Lincoln & 5th from an asking of $1.95M.

Pebble Beach Real Estate

Pebble Beach real estate inventory is down from 61 to 58 available homes. Closed transactions fell here to a total of 10 for the month, with the most notable an excellent ocean view value at 1271 Padre Lane, just North of the Lodge for $3.33M. Also notable were a gracious but dated home sold at 3189 Bird Rock Road overlooking the 15th and 14th tees of MPCC for $2.5M and a big but slightly unfinished Viscaino Road estate with no views for $2.01M. New sales came roaring back last month from 7 during the previous month to 13 new sales and one in the very high-end in the Macomber Estates by world-renowned architect Cesar Pelli at 3235 Macomber Estates from an asking of $12.8M. A great value at 2877 17 Mile Drive for a beautiful home overlooking the white water and the Spanish Bay golf links was a new sale at an asking of $2.895M. Also of note were a new sale at 1545 Venadero in Central Pebble Beach for a very interesting 60’s contemporary made of thick concrete and sheets of glass from an asking of $2.85M and one at 2930 Bird Rock Road overlooking the 3rd fairway of MPCC course for a modestly-sized French country home from an asking of $2.595M.

Carmel Valley Real Estate

Carmel Valley real estate inventory numbers stayed the same at 83 available homes for the month. Slight rise in closed transactions from 14 for the previous month to a total of 15 for March. Most notable of the closings were an elegant remodel in the Quail Lodge development for $1.8M at 7032 Valley Greens Circle, a large remodeled Mediterranean styled to the 9’s just passed the Los Laureles Lodge and Bernardus Lodge at 43 Middle Canyon for $1.647M and an impressive new-build Mediterranean overlooking the Carmel Valley Village at 198 El Caminito Road for $1.45M. New Sales skyrocketed this month from 12 to 29 in Carmel Valley. This time of year I tend to see the Valley’s velocity pull way ahead of the other higher-end areas. Most notable new sales were a sale in the Preserve community for a gorgeously done Hacienda estate at 6 Rumsen Trice from an asking of $3.995M, a stately French country home in the River Meadows community at 8680 River Meadows Road at an asking of $3.195M and a Spanish style compound with never-ending pool and soaring views of Monterey just outside of the Bay Ridge community from an asking of $1.848M.

Carmel Highlands Real Estate

Carmel Highlands real estate inventory fell to 23 available homes. There was just 1 closed transaction at 98 Yankee Point for $6.7M which was an oceanfront architectural masterpiece cascading into the whitewater. There were 3 new sales in the Highlands, all of which were quite notable; a sale at 71 Highway 1 for a large, all-stone home above Gibson Beach (some Rock n’ Roll history to this property) at an asking of $4.5M, a sale at 42 Yankee Point Drive for an older, smaller and dated but uniquely positioned ocean front home from an asking of $3.495M and a Carmel Highlands estate home on the East side of the highway with ocean views and supreme privacy from an asking of $2.488M.

Monterey Highway 68 Corridor

Inventory here is at 57 available homes. There were 14 closed transactions for March, most notably a very large Mediterranean new-build in the Bay Ridge Community for $2.15M. Activity was up with 17 new pending sales, most notably a beautiful Bay Ridge home with South facing views at 11430 Saddle Road from an asking of $1.549M and a well appointed Pasadera Villa at 119 Las Brisas Drive from an asking of $1.149M.

Monterey Real Estate

Monterey real estate inventory is currently at 57 available homes. There were 14 closed transactions here last month, most notable of which were a mid-century modern home, freshly renovated with views of the bay at 5 Sierra Vista Drive for $949K and a estate home in Peter’s Gate at 750 Colton Street for $1.08M. Increase in activity here for the month with 21 new sales, most notably a sale at 11 White Tail Lane in the coveted Deer Flats area from an asking of $895K.

Pacific Grove Real Estate

Pacific Grove real estate inventory is currently at 45 available homes. There were 14 closed sales last month, most notable of which was perhaps a classic Pacific Grove cottage in excellent repair at 422 Pine Ave for $915K. 19 new pending sales for PG, the best of which was at 1142 Del Monte Boulevard for a custom stone home done to the highest quality and overlooking the Pacific Grove golf course and parts of the ocean from an asking of $2.695.