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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,

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.

 

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.

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.

I apologize that I was unable to write my weekly comments last Monday. Here are my comments and the activity from last week-

Carmel had a total of 4 closed transactions; I continue to see the higher prices captured on Carmel Point, versus the Golden Rectangle. We had a closing for $3.3M on the backside of Carmel Point (not even the prime Point area) at 26276 Camino Real, which was a meticulous home of over 2600 sq ft with a light and bright, opened floor plan. A new construction, traditional design also sold for $2.575M at 2798 14th Ave, just around the corner from Carmel River School and the Carmel Mission Inn. We also had some action in and around the Carmel Woods area. Nothing in the Rectangle.  6 new sales in Carmel, 5 of which were in the downtown area. A slightly over-sized custom craftsman sold from an asking of $2.95M at Lincoln 4 NE Santa Lucia, with a small peak of the wetlands. A beautiful, ocean view, new-build with high ceilings and lots of light sold from an asking of $2.175M. There was a new spec that brought the market up in the South East area, and a couple of rustic cottages sold in the Northeast and Northwest areas.

Pebble Beach closed 3 sales last week with 1 on the estate side. Really interesting, heavy construction contemporary sold on Venadero for $2.65M. 2 new sales both in the Central Pebble Beach area; a borderline tear-down with ocean views on Rhonda from an asking of $1.737M, and a contemporary on Spyglass from an asking of $2.295M.

There were 7 closed transactions in the Carmel real estate markets last week, most notably a sale at Scenic 7 SW of Ocean for an older Carmel cottage with a split level floor plan and some ocean views for $2.7M. There was also an off-market sale at 26070 Ridgewood Road for a finished home in the Mission Trails Park area for $2.395M, a slightly undersized, remodeled home at Casanova 3 SE of 4th sold for $1.675M, a home in the High Meadows area East of Highway 1 sold for $1.165M, a view home at 24800 Outlook Drive sold for $1.05M in Carmel Views, a remodeler’s dream sold for $940K directly across the street from the Carmel Mission at 3009 Lasuen Drive and a sort of “Bohemian style” multi-unit, terraced property in the downtown area at Dolores 3 NW of 4th for $950K. The markets seem to be taking off with tax season coming to a close- as of this time there are 11 new pending sales from last week, most notably a large, high-end new construction home at 2992 Franciscan Way with gorgeous views over the top of Carmel Mission (no ocean views, however) from an asking of $3.595M. Other new sales of note in the prime markets were a smaller, rustic Carmel cottage on an over-sized lot at Camino Real 3 SW of 12th from an asking of $1.795M, and a very small but well placed 2 bed, 1 bath cottage at 9th & Monte Verde in the Golden Rectangle from an asking of $1.295M.

There were 3 closed transactions in the Pebble Beach real estate markets last week, most notably a sale at 2930 Bird Rock Road for a French Country home on the 3rd hole of the MPCC Dunes course at $2.2M. There was also a closed sale at 1056 Sawmill Gulch Road for a newer design at $1.65M, and a small mid-century basic in the Country Club East area for $799K at 2993 Sloat Road. As of now, there are only 2 new pending sales in Pebble from last week; a sale at 1440 Lisbon Lane at an asking of $1.575M and a nice remodel at 3065 Strawberry Hill Road from an asking of $1.499M.

Carmel Real Estate

4 closed transactions in Carmel last week; there was a sale at Monte Verde 2 NE 13th for an over-sized cottage, slightly dated but a nice design and floor plan for $1.975M, another over-sized dated sale at Carmelo 4 SW of Ocean with a pool for $1.8M with a quirky floor plan, a sale at San Carlos 2 NW 9th (very busy street) for a much older, single walled construction cottage of standard size for $1.3M and a cute, slightly undersized “Quintessential Carmel Cottage” at Torres 4 SW 10th for $1.15M.

A bit of an increase in Carmel real estate new sale activity last week; there was a sale at 26276 Camino Real for a newer large, 4 bedroom custom home on the backside of Carmel Point from an asking price of $3.298M, a new construction, standard 1600 sq ft very custom cottage with views facing Carmel Valley of Fish Ranch over the old Odello artichoke fields sold almost right away from an asking of $2.695M,  a 90’s build Carmel cottage with a bit of old world charm and some great bay views sold at San Carlos 4 NW of 1st in the RLS lower school neighborhood from an asking of $1.845M, an over-sized Carmel Woods mid-century home with a sophisticated touch sold from an asking of $1.075M and a very small, older cottage at 24816 Santa Rita in the Northeast area sold from an asking of $680K.

Pebble Beach Real Estate

No closings in Pebble Beach, but we did have 3 new pending sales; a sale at 1032 San Carlos Road for a large, dated home overlooking the 2nd hole of the MPCC shore course from an asking of $1.495M, a sale at 4079 Los Altos Drive for a large, wooden home with guest house and no view from an asking of $1.2M and a sale at 1107 Mariners Way  from an asking of $995K for an eclectic but remodeled home near the PG gate.

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.

With the annual AT&T  Pebble Beach Pro-Amateur golf tournament coming to town next week, residents of the Monterey Peninsula are bracing themselves for the usual influx of tourism and…….Real Estate buyers! AT&T kicks off Monday, February 3rd with the traditional rush of calls on Carmel & Pebble Beach properties from out of towners. This can be a great time to have your property on the market. By the way, for those of you watching my weekly report, I have gone back to a more easy-read style, leaving the statistics and more concrete numbers for the end of the month reports, by popular request.

2 weeks ago, Carmel experienced a new wave of inventory and a subsequent high number of new sales. There seems to be a lot of would-be buyers waiting in the wings for that perfect Carmel property. Last week we saw some healthy activity in prime Carmel with 2 closed transactions just in the Golden Rectangle, at $2.275M and $2.7M, respectively, and a total of 8 new sales over Carmel as a whole. Pebble Beach had 2 closings; some activity in the high-end on Padre Lane for $4.125M and one on Sand Dunes Road for $2.175M. There were also 4 new sales in Pebble, one of which was on Viscaino on the estate side for a big home at a list price of $2.179M. In other Pebble Beach news, 16 of the 90 planned “Pebble Beach Lots” are now available as of today. These will be the final developed lots for the Pebble Beach Company.

Good numbers and a good sign for what’s to come. Maybe Bill Murray will buy a place this year. See below for the AT&T golf schedule……….

Cheers,

Ryan

Monday
7:00 a.m. – 4:00 p.m. Practice Round
All three courses, MPCC closed to public

Tuesday
7:00 a.m. – 4:00 p.m. Practice Round
1:30 p.m. – Chevron Shoot-Out, Pebble Beach Golf Links – 1st tee

Wednesday
Military Day
7:00 a.m. – 4:00 p.m. Practice Round
11:00 a.m. – 3M Celebrity Challenge, Pebble Beach Golf Links – 1st tee

Thursday
8:00 a.m. – 4:00 p.m.
First round, all three courses

Friday
8:00 a.m. – 4:00 p.m.
Second round, all three courses

Saturday
8:00 a.m. – 4:00 p.m.
Third round, all three courses

Sunday
7:30 a.m. – 3:00 p.m.
Final round, Pebble Beach only

Carmel

January is historically our slowest month for Carmel & Pebble Beach real estate. Last week Carmel gave us 3 closed sales, albeit all but one were in our lower price points. We did see a remodeled 3 bed, 3 bath cottage with a well manicured English garden close escrow on Guadalupe Street, just outside of city limits in the Carmel Woods area near Carpenter and Highway 1 for $1.26M. Carmel started to move again with a total of 3 new sales, 2 of which were in prime Carmel; one gorgeous remodeled offering on 12th & Monte Verde from a list of $1.995M, and another slightly smaller remodeled cottage on Carmelo & 12th, with a peek of the ocean, from an asking of $1.895M. There were no vacant land sales of any kind.

Pebble Beach

There was 1 closed transaction in Pebble Beach, on Viscaino Road, for a 3 bed, 3 bath home with no views for $1.661M. Pebble pulled ahead of Carmel last week with a total of 4 new pending sales, one of which was in the high-end in the Macomber Estates for a 10,000 sq ft newer home, equipped with 14 car garage, at an asking of $5.75M. A perfect palace for one of the many car enthusiasts we see here on the Peninsula each August. There were no vacant land sales.

Carmel Valley

There was only 1 closed transaction in Carmel Valley last week, on Laurel Drive for $1.15M, for a 3 bed, 3 bath remodeled California Cottage style home with a lovely greenbelt view. There were 2 new sales in Carmel Valley; one condo at Carmel Valley Ranch from an asking of $745K, and a condo at the 55+ community, Hacienda Carmel, from an asking of $359K. There were no vacant land sales.

Carmel Highlands

There were no closed transactions in the Highlands last week, but there was 1 new sale on Yankee Point from an asking of $6.995M for a 5,000 sq ft new, architecturally-notable home on the water. No vacant land sales.

Upcoming Local Events

1/17 Stories on Stage at the Forrest Theater

1/17 Big Sur Foragers Festival

1/18 Sunset Center Presents Chef Robert Irvine, Live!

1/19 Meet The Artists at the Carmel Art Association

Here’s to what’s ahead.

Cheers,

Ryan