MARKET STATISTICS
Here’s the summary of Monterey Peninsula real estate activity reported on MLS for the week of March 10th:
New listings – 53
Off Market - 10
New escrows – 35
Closed sales – 34
Largest sale - $3.3 Million in Pebble Beach
Inventory – 430
Price reductions – 21
This week we had a strong surge in new listings, nearly doubling last week's numbers. Both closed sales and new escrows increased by 25%, and price reductions inched up slightly.
Here are some highlights:
64% of new listings were under $1 million.
75% of new escrows were under $1 million this week. Average price was $930,056, average Days on Market was 66.
Highest priced sale was in Pebble Beach on Rodeo Road. It was originally listed at $5.9M, sold for $3.3M and was on the market for 304 days. It has 6941 SF of living space, 3 bedrooms, 3 1/2 baths. It was built in 2012, Spanish style home. Great location but no view.
Highest priced new listing is on Scenic Drive in Carmel Point. Built in 1968, 2150 SF, 4 bedroom, 4 bath with a separate guest apartment. 6300 SF lot and best of all VIEWS, VIEWS, VIEWS! It prices out at $3523 per foot and it's all about location. Let me know if you want to take a look. I'd be happy to set up a showing.
I welcome your feedback and I hope you find the information helpful.