Here’s the summary of Monterey Peninsula real estate activity reported on MLS for the past seven days:
New listings – 30
Off Market - 12
New escrows – 27
Closed sales – 24
Largest sale - $3.475 Million in Carmel
Inventory – 418
Price reductions – 20
Listings and closed sales are flat but new escrows showed a small increase. Inventory is down slightly from the same time last year but week over week, things are static.
60% of new listings this week were under $1 million.
The largest sale this week was a Spanish Colonial home in Monterra, Monterey. It has 4 bedrooms, 4 1/2 bathrooms, 6957 SF and sits on 2.9 acres. It was on the market for only 45 days ....a quick sale for this price range!
The highest priced new listing this week is located at 2468 Bay View Ave in Carmel, Listed at $3.95M, it boasts 3978 SF and has 3 bedrooms and 4 bathrooms. Notes indicate ocean and golf course views. It's in Carmel Point area and sits on a 7500 SF lot. It's something to consider so let me know if you are interested in taking a look!
A stand out this week.....Pacific Grove only has 25 listings currently on the market. Based on the 2000 census, there are 7316 homes in PG...which means less than 1% of homes are currently on the market...Pickings are slim to say the least!
I welcome your feedback and I hope you find the information helpful.
Have a great weekend