Last week we had an 8% increase in inventory. Sales and new escrows are up as well. Overall, it's been a very positive week! Let's take a look....
MARKET STATISTICS
Here’s the summary of Monterey Peninsula real estate activity reported on MLS for the week of March 10th:
New listings – 29
Off Market - 12
New escrows – 38
Closed sales – 33
Largest sale - $8 Million in Carmel
Inventory – 439
Price reductions – 29
32% of new listings were over $1 million. Salinas and Seaside listings account for 36% of the new inventory. Homes under $1 million continue to sell quickly. 3-5 days on market is not uncommon.
27% of this week’s sales were over $1 million. There were 4 sales in Carmel under the one million dollar range. Two were condos. One was at Rio Road, the other was at Carmel Valley Ranch.
Salinas, Seaside, Monterey and Pacific Grove continue to be the hotbeds this week.
The highest priced sale was located in Carmel on Scenic Drive. The views from the living room are spectacular. It was a contemporary home with 3 bedrooms, 3 bathrooms, 2648 SF. It was on the market just over 6 months and sold for $8 million.
Highest priced listing came on at $4.295M. It's a 3/3, 2832 SF property, frontline Carmel Point, fabulous views, first time on the market in 35 years. It's on Isabella Avenue
I welcome your feedback and I hope you find the information helpful.