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The 2015 first quarter sales results in Pebble Beach and the prime parts of Carmel showed clear slowing, with varying impacts throughout the price spectrum; too early to call trend lines but, as always, some interesting patterns and nuances worth noting: Pebble Beach: - The number of closed sales was down 30% from 4Q 2014; however, we’re carrying 20 pending sales into Q2 so we may yet see a return to the mean as we move into our peak selling season. - The dominant market in Pebble remains under $2.5M, with 75% of all sales. - We saw a surge in activity between $2.5-$4M, with 4 closed sales and 3 pending sales. - Some activity between $6-$8M but comatose north of $8M. Real soft spot is between $8-$15M – sellers can expect aggressive discounting there to bring deals together. Prime Carmel: - Carmel actually saw an even greater decline in closed sales, falling 35%; however, rather than due to lack of demand, this has been more due to lack of supply, a condition we see persisting for some time. With 22 pending sales Carmel is also poised to catch up to market averages but it appears unlikely to reach 2014 levels. - Carmel also remains predominantly an under $2.5M market but did see a surge in deals between $4-6M and one very large deal at $12.75M (the third highest sale in Carmel history). - A highly favored location, Carmel Point sales slowed to a crawl last quarter – very tight inventory on The Point right now. We’ve also added analysis on the Carmel Meadows/Highlands markets (extending south through Otter Cove), as well as the Quail Lodge/Meadows markets: Carmel Meadows/Highlands: - Historically slower moving with longer days-on-market, we saw a fairly significant spike in interest in this market. That said, inventory is high and action slow in the $4-$15M range. Quail Lodge/Meadows: - Quail Lodge has enjoyed a huge rebound the past two years and Q1 is off to a record start. The only thing that will likely hold that market back will be tightening inventory levels. - We saw the first sale north of $2M at Quail Lodge ($2.1M) since 2009. We do see demand rising up the price spectrum and are closely watching demand north of $2M. As always, if you have any specific questions on the market feel free to give us a call or shoot us an email. Yours very truly,

JESSICA CANNING

MIKE CANNING

831.238.5535 jessica@canningproperties.com CalBRE#01920034

831.596.1171 mike@mikecanning.com CalBRE#01004964

NICHOLAS CANNING 831.241.4458 nicholas@canningproperties.com CalBRE#01959355


1Q15

Percentage of Sales Price Off of List Price Sales Price

1Q15 Total Carmel Highlands

Average Days on Market

Pebble Quail Beach

Sales Price

Total Carmel Highlands

Pebble Quail Beach

<$1M

-4.8%

-6.7%

N/A

-2.0%

-3.6%

<$1M

76

25

336

72

218

$1.0M-$1.5M

-3.7%

-5.1%

-4.4%

-1.9%

-4.2%

$1.0M-$1.5M

93

113

N/A

64

N/A

$1.5M-$2.0M

-5.8%

-5.1%

-10.2%

-4.1%

-4.3%

$1.5M-$2.0M

122

147

85

92

N/A

$2.0M-$2.5M

-6.0%

-6.1%

-6.3%

-4.2%

-8.8%

$2.0M-$2.5M

117

112

N/A

120

N/A

$2.5M-$3.0M

-8.5%

-8.5%

N/A

N/A

N/A

$2.5M-$3.0M

164

224

23

144

64

$3.0M-$4.0M

-6.4%

-2.2%

0.0%

-9.1%

N/A

$3.0M-$4.0M

167

168

311

104

245

$4.0M-$6.0M

-2.7%

-3.6%

N/A

-1.7%

N/A

$4.0M-$6.0M

178

175

199

186

110

$6.0M-$8.0M

-2.9%

-2.9%

N/A

N/A

N/A

$6.0M-$8.0M

291

261

298

303

N/A

$8.0M-$15.0M

-15.4%

-12.1%

-18.7%

N/A

N/A

$8.0M-$15.0M

350

N/A

438

325

N/A

$15M+

N/A

N/A

N/A

N/A

N/A

$15M+

351

63

175

505

N/A

Total

-5.3%

-5.8%

-7.6%

Total

161

136

243

161

149

JESSICA CANNING 831.238.5535 jessica@canningproperties.com CalBRE#01920034

-3.9% -4.5%

MIKE CANNING 831.596.1171 mike@mikecanning.com CalBRE#01004964

NICHOLAS CANNING 831.241.4458 nicholas@canningproperties.com CalBRE#01959355


1Q15

JESSICA CANNING 831.238.5535 jessica@canningproperties.com CalBRE#01920034

MIKE CANNING 831.596.1171 mike@mikecanning.com CalBRE#01004964

NICHOLAS CANNING 831.241.4458 nicholas@canningproperties.com CalBRE#01959355


Quail Meadows & Quail Lodge

1Q15

Quail Meadows Price Range <$1.0M

1Q Sales

Pending

Active

0

0

0

$1.0M-$1.5M

0

0

0

$1.5M-$2.0M

0

0

0

$2.0M-$2.5M

0

0

0

$2.5M-$3.0M

0

0

0

$3.0M-$4.0M

0

0

1

$4.0M-$6.0M

0

0

2

$6.0M-$8.0M

0

0

0

$8.0M-$15.0M

0

0

0

$15M+

0

0

0

Total

0

0

3

Quail Lodge Price Range <$1.0M

1Q Sales

Pending

Active

4

1

1

$1.0M-$1.5M

1

1

0

$1.5M-$2.0M

1

1

0

$2.0M-$2.5M

1

0

0

$2.5M-$3.0M

0

0

1

$3.0M-$4.0M

0

0

0

$4.0M-$6.0M

0

0

0

$6.0M-$8.0M

0

0

0

$8.0M-$15.0M

0

0

0

$15M+

0

0

0

Total

7

3

2

Information believed to be reliable as obtained from the Monterey County Association of Realtors RE Infolink and known off-market transactions.

JESSICA CANNING 831.238.5535 jessica@canningproperties.com CalBRE#01920034

MIKE CANNING 831.596.1171 mike@mikecanning.com CalBRE#01004964

NICHOLAS CANNING 831.241.4458 nicholas@canningproperties.com CalBRE#01959355


Quail Meadows & Quail Lodge

Percentage of Sales Price Off of List Price

1Q15

Annual Sales

Sales Price Range

2012

2013

2014

2015

Sales Price Range

<$1M

-8.0%

-6.1%

-2.9%

-3.6%

$1.0M-$1.5M

-3.7%

-5.2%

-6.1%

$1.5M-$2.0M

N/A

-9.7%

$2.0M-$2.5M

-15.8%

$2.5M-$3.0M

2012

2013

2014

2015

<$1M

8

6

3

4

-4.2%

$1.0M-$1.5M

4

12

9

1

-4.2%

-4.3%

$1.5M-$2.0M

0

3

5

1

N/A

N/A

-8.8%

$2.0M-$2.5M

1

0

0

1

N/A

N/A

N/A

N/A

$2.5M-$3.0M

0

0

0

0

$3.0M-$4.0M

-9.4%

-9.9%

-9.0%

N/A

$3.0M-$4.0M

1

1

2

0

$4.0M-$6.0M

0.0%

-4.2%

N/A

N/A

$4.0M-$6.0M

1

2

0

0

$6.0M-$8.0M

N/A

N/A

N/A

N/A

$6.0M-$8.0M

0

0

0

0

$8.0M-$15.0M

N/A

N/A

N/A

N/A

$8.0M-$15.0M

0

0

0

0

$15.0M+

N/A

N/A

N/A

N/A

$15.0M+

0

0

0

0

-6.9%

-6.1%

-5.4%

-4.5%

Total

15

24

19

7

Total

JESSICA CANNING 831.238.5535 jessica@canningproperties.com CalBRE#01920034

MIKE CANNING 831.596.1171 mike@mikecanning.com CalBRE#01004964

NICHOLAS CANNING 831.241.4458 nicholas@canningproperties.com CalBRE#01959355

Profile for Canning Properties Group

Quarter 1 Quail Market Summary 2015  

Quarter 1 Quail Market Summary 2015