Christine Monteith on the Pebble Beach Coast

Just did a quick review on sales in Carmel, CA since August 1, 2010. Total of 27 sales with the highest sale at $4.8million and the lowest sale of $525,000. Only 7 of these sales were for properties over $1,000,000. Five of the sales were “Short Sales” and 1 foreclosure. The median sale price is $785,000.

There are 36 properties under contract right now — 11 are “Short Sales” and 2 are foreclosures. That mean’s 30% of the properties in contract are distressed sales. For the same time frame last year, there were 36 sales with just 3 foreclosures and no “Short Sales.” The highest sale price was $3,725,000 with the lowest at $610,000. 21 of these properties sold for over $1million. And the median sale price – $1,272,500!

For a full report of Carmel, CA sales 8/1/10 to 10/4/10, download this pdf.

Popularity: 2% [?]

Just had to drop by and pick up a Father’s Day gift for my golf addicted Dad who I’m sure will be glued to the TV next weekend. While I’ll be holding homes open in Pacific Grove wondering if any of these golf fans would like to own a little piece of golf heaven.

Popularity: 2% [?]

I was doing research for a seller on sales and pending contracts in Pacific Grove. Though, I’ve been aware of which properties were in foreclosure and short sales, it was surprising when I gathered all this info into one report. The good news is that there are only 57 active single family residence listings, only 3 are foreclosures and 2 short sales. Of the 25 homes under contract, 60% of these transactions are distressed property sales (ie, foreclosures or short sales.) Since October 1, 2009, there have been 35 sales in Pacific Grove ranging from $2,900,000 (sold by my Broker at The Jones Group) to $290,000, only 11 have been distressed sales. That still makes just a little less than 33% of the sales.

Popularity: 25% [?]

As of today, there are only 57 homes on the market in Pacific Grove, ranging in price from $2,199,000 to $400,000. Compare that to 120 active listings last winter. At the same time, there are 23 homes currently under contract listed from $1,699,000 to $389,000. Of those 23 homes, 11 properties are short sales or foreclosures.

The market is hot in Pacific Grove when a well-priced home hits the market. 309 10th Street (pictured here) was listed on Friday December, 11 by the following Monday, we had received 3 offers. This home is not a short sale or foreclosure. It is a tidy, well-maintained 2 bed/2 bath, 1,000 sf on a 3,600 sf lot with a 2 car garage and bay view from the front bedroom listed at $600,000. This property went into escrow on Tuesday. The buyers with financing are in the market and when they see a property at a good value, it sells.

Popularity: 1% [?]

Inventory on the Monterey Peninsula continues to decline in many areas. In October 2008, the inventory for Monterey County was 2,726 single family homes for sale in comparison to just 1,442 in October 2009. Total number of sales have remained fairly constant while median sale prices saw an overall decline of 12% over the past 12 months. Median sales prices are skewed in areas such as the Carmel Highlands where the average home sale price was extremely high. Carmel inventory remains very high as Pacific Grove with a similar size and population continues to decline. The Carmel inventory reflects a large number of homes that were remodeled on spec.




Area	New Listings	Inventory	Closed Sales	Days on Market	Median Sales
Carmel	25	171	22	153	1,137,500
Carmel Highlands	4	34	2	284	3,462,500
Carmel Valley	17	133	7	238	1,250,000
Del Rey Oaks	3	6	1	24	475,000
Marina	13	34	15	48	370,000
Monterey	22	73	14	102	512,450
Pacific Grove	15	72	18	99	757,500
Pebble Beach	19	119	3	27	1,045,000
Seaside/Sand City	30	70	22	38	257,500

Popularity: 2% [?]

There are 137 properties for sale in Pebble Beach ranging from the very affordable $438,950 for an ocean view condo at Ocean Pines to $35,000,000 for a breathtaking, contemporary, over 10,000 sq ft home on the 18th fairway of Pebble Beach.
For more information about these and other properties, just email Christine.

Popularity: 1% [?]

I really like that my listing at 456 Gibson shows up first on this slide show of available properties in Pacific Grove.

Popularity: 61% [?]

Elegant almost new mobile home – 1,450 sq. ft., this 2 bed, 2 bath home is larger than it looks. With Italian porcelin tile in every room, the living room features a gas-log fireplace with custom tile surround and opens to the kitchen and separate bay-shaped dining room lined with windows. The kitchen features a huge amount of cabinetry, sparkling tile counter tops and a kitchen island with bar sink. There is a large laundry room with more cabinets and a built-in desk.
The spacious master suite features a deep walk-in closet, vaulted ceilings and a door to the bay view deck. The master bath is fully tiled, has a jetted tub, separate shower stall and 2 vanity sinks. Complemented by lots of natural light and wood cabinets for great storage. Relax outdoors on the private garden patio or on the Monterey Bay view deck. There is covered attached parking for 2 cars and an outdoor storage unit.
Located next door to Lover’s Point Park at the edge of the majestic Monterey Bay, this home is only a few blocks to historic downtown Pacific Grove with shopping and restaurants. This home and Monarch Pines has a lot to offer

Popularity: 2% [?]

No other home like it in Pacific Grove. Built with the Craftsman style in mind, the main home features rich mahogany wood paneling, coved ceilings and oak inlay floors. The home sits high and overlooks the Bay and is surrounded by a gothic-styled 20 ft high stone wall with a mountain lion statue keeping watch.
The elegant, spacious living room offers views to the west & north. Step through mahogany clad columns to the gracious formal dining room with a west-facing window seat and mahogany built-ins with beveled glass doors. Original Arts & Crafts light fixture hangs over the dining table. The kitchen is updated with granite counters, stainless steel appliances, all only 4 years old. There is a breakfast nook with lovely windows that look out to the garden and across to the Bay.
There is a 1 bedroom, 1 bath, 530 sq. ft guest unit that can legally be rented. The unit has a good-sized kitchen, living room with views to the Bay, a large bedroom and it’s own washer/dryer hookups. Panoramic Monterey Bay Views from almost every window & outdoor entertaining area of this signature property.
Located just a few blocks to the edge of the Bay and historic downtown Pacific Grove.

Popularity: 1% [?]