Carmel Highlands Q4 2015

Carmel Highlands 4Q15

Carmel Highlands - Market Comments We’ve seen a rise in demand for oceanfront properties this year, particularly in the prime parts of Carmel and Carmel Highlands. The Highlands’ market enjoyed a significant surge in demand this year,  easily surpassing ‘14 for the second highest sales volume in 15 years. The $3-4M bracket remained     active with 4 closed escrows in  ’15- extending a 3 year streak   of 4+ total sales. The discount     of ask-to-sale lowered 1.22%    this year, and with tightening   inventory levels, this trend    should continue into ’16.

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Also noteworthy, the entry ticket for the Highlands is the  highest among all of the areas  we emphasize - Carmel, Pebble,  and Quail Lodge/Meadows.

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As you’ll observe in our market summaries, there were some interesting and important trends worth noting. For the true real estate    aficionados, this data is updated each Friday on our website, including interactive maps, weekly blogs         and historical sales trends.  

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Mike Canning   

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Jessica Canning   

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Nic Canning

About Carmel Highlands Oceanfront

The Carmel Highlands, situated along the Big Sur coastline minutes to Carmel, bears witness to epic views of the Pacific Ocean and coastline. There are 72 properties that are truly considered oceanfront in the Highlands. Yankee Point boasts the most oceanfront properties with 30, but has the smallest building and lot sizes. The average building and lot sizes are 3,196 square feet and 27,826 square feet respectively. To the North, Spindrift has 22 homes (7 adjacent lots) and the average building and lot sizes are 4,092 square feet and 71,125 square feet respectively. Rounding out the remainder of the frontline is Otter Cove with 19 homes(1 adjacent lot)- its average building and lot sizes are 3,828 square feet and 68,036 square feet respectively.

Within the 72 frontline properties in the Highlands, 29% are owned by primary residents and 71% are secondary residents. Nearly 68% of the secondary residents are from California: 39% are from the Bay Area with the highest concentrations in Atherton, Los Altos Hills, Palo Alto and San Mateo; 12% come from the Central coast; 8% are from the San Juaquin Valley; 8% are from Southern California. The remaining 32% of owners come from across the US and globe with the largest concentrations in the Western and Southern regions- specifically Colorado and Texas. There are a few that make their international commute to the Highlands, including from places such as Jamaica, Japan and the United Kingdom.

86 Yankee Point Drive $6,150,000 -Sold August 2015

Yankee Point Sales by Price

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102 Yankee Point Drive $3,950,000 -Sold October 2015

Yankee Point Drive Currently Available Properties and Sales Since 1988 (Last updated January 7, 2015)

2014 Sale Price $950,000

List Price $7,249,000 2000 Sale Price $4,454,000

1996 Sale Price $980,000

2013 Sale Price $2,750,000 2005 Sale Price $5,400,000

List Price $10,888,888 2014 Sale Price $7,289,000

2015 Sale Price $3,295,000

1996 Sale Price $1,200,000

2014 Sale Price $3,100,000

2000 Sale Price $4,700,000

2000 Sale Price $1,300,000

2010 Sale Price $2,800,000 2012 Sale Price $2,475,000 2014 Sale Price $4,750,000

2014 Sale Price $4,850,000

2008 Sale Price $3,354,500

2012 Sale Price $4,850,000

2014 Sale Price $6,700,000

2013 Sale Price $2,525,000 2002 Sale Price $3,535,000 1988 Sale Price $1,650,000 1993 Sale Price $1,100,000

Recent Sales

2007 Sale Price $6,200,000

1990 Sale Price $2,100,000

Active Listings

2015 Sale Price $6,150,000*** 2013 Sale Price $3,800,000

2004 Sale Price $3,050,000

2015 Sale Price $3,950,000**

Sold Properties w Confidential sale- last list price ** Canning Properties Listing *** Canning Properties Listing and sale

30890 Aurora Del Mar, Carmel Discreetly Available

Aurora del Mar Sales by Price

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Aurora Del Mar Currently Available Properties and Sales Since 1988 (Last updated January 7, 2015)

1986 Sale Price $945,000

List Price $9,500,000 2006 Sale Price $5,600,000

2002 Sale Price $6,500,000

2015 Sale Price $5,812,500 1996 Sale Price $2,100,000

1988 Sale Price $691,500

1992 Sale Price $1,350,000

(Discreetly Available) List Price: $5,495,000** 2013 Sale Price $3,600,000 2006 Sale Price $6,175,000

2004 Sale Price $5,175,780

1978 Sale Price $130,000 1992 Sale Price $1,590,000

2008 Sale Price $6,750,000 2015 Sale Price $8,700,000 1996 Sale Price $1,750,000

1976 Sale Price $135,000

Recent Sales

Active Listings

1972 Sale Price $52,000

2006 Sale Price $6,200,000

Sold Properties w Confidential sale- last list price ** Canning Properties Listing *** Canning Properties Listing and sale

165 Spindrift Road, Carmel $8,600,000 -Sold March 2011

Spindrift Sales by Price

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Spindrift Currently Available Properties and Sales Since 1988 (Last updated January 7, 2015)

2013 Sale Price $3,950,000

List Price $12,000,000 2003 Sale Price $5,750,000

2015 Sale Price $6,395,000

2011 Sale Price $8,600,000**

2013 Sale Price $5,100,000

2013 Sale Price $5,335,000

2010 Sale Price $3,950,000

2012 Sale Price $9,250,000

2013 Sale Price $4,500,000

2003 Sale Price $4,850,000

List Price $3,990,000

Recent Sales

2012 Sale Price $10,500,000

1996 Sale Price $5,735,000

Active Listings

2005 Sale Price $5,000,000

Sold Properties w Confidential sale- last list price ** Canning Properties Listing *** Canning Properties Listing and sale

Canning Properties Notable Sales • 165 Spindrift Sold: March 2011 $8,600,000

• 86 Yankee Point Sold: July 2015 $6,150,000

• 102 Yankee Point Sold: October 2015 $3,950,000

• 169 Spindrift Sold: August 2012 $10,500,000

• 170 Spindrift Sold: June 2011 $ 5,000,000

• 237 Highway 1 Sold: August 2013 $12,000,000

• 165 Spindrift Sold: March 2011 $8,600,000

• 241 Highway 1 Sold: October 1999 $5,050,000

• 237 Highway 1 Sold: July 2000 $10,500,000

Why Us? • A perennial leader for nearly 30 years, offering deep expertise in the Pebble Beach and Carmel markets and the highest level of professionalism and service.

• Two generations offer a unique perspective on the local markets and communities; we have the team depth to handle the needs of buyers and sellers at a moment’s notice.

• Cutting edge website and market reports keeping buyers and seller well-informed of market trends and off-market possibilities.

Our passion and goal is quality, not quantity. We limit our listings in order to provide the highest level of professionalism and service to our sellers. We make every effort to harness our experience and contacts for the benefit of our buyers, introducing them to properties on and off the market, as well as to this extraordinary community we’re fortunate to call home.

Over the past 25 years, Canning Properties Group has represented more buyers and sellers of Pebble’s ocean and golf-front properties than any other agent - nearly as many as all other agents combined. As the team has grown, so have our efforts to widen our reach to introduce buyers to these extraordinary properties. Our goal is simple: To be the best.

We continue to look forward to the opportunity to provide that level of professionalism and service to the owners of these treasured properties.

Jessica Canning CalBRE # 01920034 831 238 5535 jessica@canningproperties.com

Mike Canning CalBRE # 01004964 831 596 1171 mike@mikecanning.com

Nic Canning CalBRE # 01959355 831 241 4458 nic@canningproperties.com

www.CanningProperties.com

Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. CalBRE#0038392