Monthly Review of Carmel and Pebble Beach Luxury Real Estate for November 2016

During the month of November ten new listings hit the market in Pebble Beach. A magnificent estate situated on 1451 Riata Road, boasting dramatic ocean vista's sprung on the market with a hefty price tag of 12.5 million. Last sold in 2008 for 2.72 million dollars this home has been totally transformed including the addition of 5500 Sq.ft., now the property showcases 8500 Sq.ft. of living space. Eight years later with a top to bottom remodel and huge addition, the market will determine if the home can produce a 10-million-dollar profit margin for the sellers. Stay tuned to our blog to find out what happens. Currently there are 71 luxury (1 million+) Pebble Beach homes for sale.

 

Eight homes went pending sale in November. A home on Marcheta Ln went pending after being on the market for 431 days. Originally listed for 4.995 million, at time of sale was listed for 3.95 million. This property enjoys views of the 16^th hole at the Monterey Peninsula Country Club Shore course, it is scheduled to close December 12^th. We also saw a custom built home, centrally located in the Country Club East neighborhood, hit the market and go into contract in one day! Listed for 1.349 million, and scheduled to close December 29^th.

 

Lastly, six Pebble Beach homes closed escrow in November. The most expensive home to sell was located on Forest in the Country Club East neighborhood. Originally listed for 1.995 million, and sold 25 days later for 1.8 million. This residence featured panoramic ocean views to the front, and a short stroll to the fairways of Poppy Hills Golf Course from the back. To search the most up-to-date information on available Pebble Beach homes for sale click on the link.

Twenty-two Carmel homes hit the market in November. A lovely contemporary abode situated on Carmelo 3 SW of 11^th street, graced the market with a list price of 6.95 million. Originally sold in 2005, as-is for 1.879 million, the new owners have beautifully transformed the property. Ideally located in the Golden Rectangle this home appeals to many buyers, with close proximity to the beach and downtown. At the moment there are currently 141 homes for sale in Carmel.

 

Twenty-one homes went pending in November including a property located in the Brookdale neighborhood, just 2 miles outside of Carmel proper. Listed at 1.392 million dollars, this ranch-style home with guesthouse, went pending after only 10 days on the market.

 

Thirteen homes closed escrow in November, 7 of those 13 homes sold in less than 30 days, including a quintessential Carmel cottage that was built in the 1930's, and located on Torres and 2^nd in the North East neighborhood of Carmel. 152 Spindrift situated in the Carmel Highlands, finally closed escrow after 625 days on the market, originally listed for 4.650 million it sold for 3.3 million. The original listing agent pulled some crazy shenanigans, which caused several buyers in contract to cancel escrow, I know because I represented the buyers. The property eventually sold, after the estate manager hired an ethical agent. The home located on Spindrift was not for the faint of heart, as this was a total fixer upper, needing at least an additional 3 million in cash to bring it up to current day standards. To search the latest available Carmel homes for sale be sure to click on the link.

 

As folks begin to enjoy the holiday season the demand for luxury real estate naturally slows down. However, as I always tell my sellers, the serious buyers are out looking, so it is a good time to have your home on the market. The financial uncertainty caused by our crazy Presidential election season has calmed, and the financial markets are showing positive growth. All of this bodes well for luxury real estate sales in our region. I remain optimistic that the luxury real estate market on the Monterey Peninsula will remain strong as we enter into 2017 selling season.

 

Continue to check in weekly for the latest up-to-date luxury real estate information or for helpful tips by your favorite Real Estate Guru, moi! Any questions or concerns regarding buying or selling luxury properties, please be sure to contact me, Nicole Truszkowski at (831) 238-7449! Until then, here's what's happening around town: