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