Third Quarter 2018 Market Reports | Carmel Realty Company

Carmel, Carmel Highlands, Carmel-by-the-Sea, Carmel Valley, Pebble Beach, Big Sur & South Coast

Third Quarter 2018

Dolores South of Seventh ■ P.O. Drawer C ■ Carmel-by-the-Sea, California 93921 Office: 831.622.1000 ■ Fax: 831.624.7338

Market Report

Carmel, Carmel Highlands & Carmel-by-the-Sea

About Carmel

Third Quarter 2018 Market Report

Average Selling Price

T

he Carmel market remained strong in the Q3 with 88 units sold and a 30% increase in average sales price.

Forty-one percent of the sales YTD have been in the $1M-2M range although we have had 14 sales over $5M. With 5.1 months of inventory available the momentum should continue to year end.

vs Q

Units Sold 2018 YTD Sales by Segment

11%

5% 26%

<$1M 1M-2M 2M-3M 3M-5M 5M+

Active Listings

vs Q

18%

41%

Months of Inventory

vs Q

Dolores South of Seventh â&#x2013; P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 â&#x2013; Fax: 831.624.7338

Carmel, Carmel Highlands & Carmel-by-the-Sea

Third Quarter 2018 Market Report

Average vs Median Sales Price

Number of Sales vs Days on Market

$1,700,000

500

$1,275,000

375

$850,000

250

$425,000

125

2013

2014

2015

Average Sale Price

2016

2013

2017

120

$2.1M

$143M

90

$1.58M

$95M

60

$1.05M

$48M

30

$0.53M

Q2

2017

Q3

2018

Q1

2017 2018

Q2

Q3

2017 Days on Market 2018 Days on Market

2016

2017

Number of Sales

Average vs Median Sales Price by Quarter

Closed Sales by Quarter & Days on Market

$190M

Q1

2015

Days on Market

Median Sale Price

Closed Sales Volume by Quarter

2014

Q1

2017 2018

Q2

Q3

2017 Median 2018 Median

Dolores South of Seventh â&#x2013; P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 â&#x2013; Fax: 831.624.7338

Carmel Valley

Third Quarter 2018 Market Report

About Carmel Valley

Average Selling Price

C

armel Valley also saw an increase in average sales price up 17% over Q3 of 2017 to $1,164,045. 32 properties changed hands down from Q2. There are only 64 active listings leaving 4.9 months of available inventory. The higher end is seeing more activity with 4 sales YTD in the $3-5M range compared to none last year.

vs Q

2018 YTD Sales by Segment

<$1M 1M-2M 2M-3M 3M-5M 5M+

4% 4%

Units Sold

Active Listings

vs Q

48% 43%

Months of Inventory

vs Q

Dolores South of Seventh â&#x2013; P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 â&#x2013; Fax: 831.624.7338

Carmel Valley

Third Quarter 2018 Market Report

Number of Sales vs Days on Market

Average vs Median Sales Price $1,200,000

130

$900,000

97.5

$600,000

65

$300,000

32.5

2013

2014

2015

Average Sale Price

2016

2014

2015

Days on Market

Median Sale Price

Closed Sales Volume by Quarter $50M

2013

2017

2017

Number of Sales

Average vs Median Sales Price by Quarter

Closed Sales by Quarter & Days on Market

90

2016

$1.3M

$38M

$0.98M

60

$25M

$0.65M

30

$13M

$0.33M

Q1

Q2

2017

Q3

2018

Q1

2017 2018

Q2

Q3

2017 Days on Market 2018 Days on Market

Q1

2017 2018

Q2

Q3

2017 Median 2018 Median

Dolores South of Seventh â&#x2013; P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 â&#x2013; Fax: 831.624.7338

Pebble Beach

Third Quarter 2018 Market Report

About Pebble Beach

Average Selling Price

T

he Pebble Beach market remained steady with $140M in sales volume up 38.6% over Q2. The $2M+ market remains strong commanding 35% of the YTD sales overall in the Q3. There are 93 active listings up 27% over Q2. This additional inventory should allow for a strong finish in 2018.

vs Q

Units Sold 2018 YTD Sales by Segment

12%

14%

13%

<$1M 1M-2M 2M-3M 3M-5M 5M+

Active Listings

vs Q

10% 50%

Months of Inventory

vs Q

Dolores South of Seventh â&#x2013; P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 â&#x2013; Fax: 831.624.7338

Pebble Beach

Third Quarter 2018 Market Report

Average vs Median Sales Price

Number of Sales vs Days on Market

$2,600,000

140

$1,950,000

105

$1,300,000

70

$650,000

35

2013

2014

2015

Average Sale Price

2016

2013

2017

160

$5M

$113M

120

$3.75M

$75M

80

$2.5M

$38M

40

$1.25M

Q2

2017

Q3

2018

Q1

2017 2018

Q2

Q3

2017 Days on Market 2018 Days on Market

2016

2017

Number of Sales

Average vs Median Sales Price by Quarter

Closed Sales by Quarter & Days on Market

$150M

Q1

2015

Days on Market

Median Sale Price

Closed Sales Volume by Quarter

2014

Q1

2017 2018

Q2

Q3

2017 Median 2018 Median

Dolores South of Seventh â&#x2013; P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 â&#x2013; Fax: 831.624.7338

Big Sur & South Coast

About Big Sur

Third Quarter 2018 Market Report

Average Selling Price

T

wo properties closed, one for $7.8M and one for $1.2M. 83% of the 6 sales YTD have been in the $1-2M range. New listings stayed static without activity. At the current rate there is 12 months of inventory available.

vs Q

Units Sold 2018 YTD Sales by Segment

<$1M 1M-2M 2M-3M 3M-5M 5M+

17%

83%

Active Listings

no change Months of Inventory

vs Q

no change

vs Q

Dolores South of Seventh â&#x2013; P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 â&#x2013; Fax: 831.624.7338

Big Sur & South Coast

Third Quarter 2018 Market Report

Average vs Median Sales Price

Number of Sales vs Days on Market

$4,000,000

500

$3,000,000

375

$2,000,000

250

$1,000,000

125

2013

2014

2015

Average Sale Price

2016

2013

2017

700

$5M

$8M

525

$3.75M

$5M

350

$2.5M

$3M

175

$1.25M

Q2

2017

Q3

2018

Q1

2017 2018

Q2

Q3

2017 Days on Market 2018 Days on Market

2016

2017

Number of Sales

Average vs Median Sales Price by Quarter

Closed Sales by Quarter & Days on Market

$10M

Q1

2015

Days on Market

Median Sale Price

Closed Sales Volume by Quarter

2014

Q1

2017 2018

Q2

Q3

2017 Median 2018 Median

Dolores South of Seventh ■ P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 ■ Fax: 831.624.7338