Ocean & Golf book Q3

Pebble Beach Ocean & Golf Front Properties Q3 2015

Pebble Beach Market Comments The strengthening market continued to build momentum in 2015, bringing higher sales prices and more activity along Pebble’s prized ocean and golf-fronts. The most sought-after locations in Pebble Beach, these properties typically don’t turn over often but we’re enjoying the longest stretch of record-breaking sales in the last 12 years, with 7 sales apiece in the last five years. 2014 was one for the record books which saw the high water mark set twice at $28M (1476 Cypress Dr) and then $31.25M (Wit’s End) - we were honored to represent the sellers on both. Going into 2015, sellers at the top have seen mild discounting despite median house prices steadily rising. As you’ll observe in our market summaries there are 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 with historical sales trends.

Mike Canning

Jessica Canning

Nic Canning

About Pebble Beach Oceanfront Properties There are only a select number of properties that are truly considered to be Pebble Beach oceanfront. These historic properties are front row to some of the most spectacular views in the world. There are 28 properties (8 homes have adjacent lots) that are oceanfront on the iconic 17 Mile Drive.

Within the 28 oceanfront properties, 11% are owned by primary residents and the remaining 89% are secondary residents. 72% of the secondary residents are from California: 54% are from the Bay Area with the highest concentrations in Silicon Valley; followed by southern California with 22%; Sacramento and Monterey areas splitting 11% a piece. The remaining 17% of secondary owners come from across the US with high concentrations in the western region – specifically Texas and Arizona.

The remaining few make their way to Pebble from Kentucky, Ohio and New York. The average building and lot sizes for oceanfront properties are a commanding 8,321 and 103,949 square feet respectively.

About Pebble Beach Golf Front Properties Considered one of the best in the world, the Pebble Beach Golf Links is steeped in tradition and prestige like no other. Only 48 properties (2 homes have adjacent lots) line these historic holes and bear witness to the exquisite beauty that Pebble offers.

Within the 48 properties that line the Pebble Beach Golf Links, 19% are owned by primary residents and 81% are secondary residents. Nearly 59% of the secondary residents are from California: 76% are from the Bay Area with the highest concentrations in Los Altos, San Francisco and San Jose; the remaining 24% come from throughout Southern California. The remaining 29% of secondary residents come from across the US with the largest contingent coming from Texas, which represents a surprising 22%. The remaining residents are scattered throughout the Midwest, East Coast and Hawaii. Interestingly, the golf front properties are significantly smaller than oceanfront with average building and lot sizes of 7,306 and 69,422 square feet respectively.

C a n n i n g

P r o p e r t i e s Wit’s End 3392 17 Mile Drive Sold: October 2014 $31,250,000

1476 Cypress Drive Sold: July 2013 $28,000,000

Villa Del Mar 3196 17 Mile Drive Sold: February 2013 $22,500,000

H i s t o r i c

P e b b l e

S a l e s

1548 Cypress Drive Sold: May 2010

3372 17 Mile Drive Sold: May 2014 $16,500,000

3296 17 Mile Drive Sold: February 2014 $16,500,000

T h e U l t i m a t e G o l fe r ’s Re t re a t 3 3 5 0 17 M i l e Dr i ve

This elegant Mediterranean estate, located along the 2nd green of Pebble Beach Golf Links, will undoubtedly take your breath away. Fantastic ocean views, superb design elements with beautiful finishes and attention to detail create the ultimate in luxurious living. The main house has a large living room and dining room that flows nicely onto the rear patio with fantastic views of the ocean and golf course. The kitchen is a cook’s paradise with top of the line appliances, ample counter space, rich cherry cabinets and a Mahogany center-island. The master suite with fireplace, private deck and laundry area also offers separate his and her baths each with a walk-in closet. There are 4 guest suites in the main house all with private baths and sitting areas in addition to a small coffee nook/sitting area that opens up to a large upstairs patio with fireplace overlooking the golf course.

A separate 1,267 sq. ft. caretakers quarters and guest house with three additional bedrooms, two baths, living room and eat-in kitchen provides plenty of space and privacy for additional guests.

8 Be d ro o m s | 8 Full Baths 8,2 20 sq.ft | 54,4 50 sq.ft lo t 3550SeventeenMileDrive.com

Over the past 25 years, Canning Properties Group has represented more buyers and sellers of Pebble’s ocean and golffront 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