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

Q3 2019 Market Report

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


Featured Listings

Q3 2019 Market Report

3188 17 Mile Drive, Pebble Beach ■ $26.5M

Timeless Pebble Beach Estate, Pebble Beach ■ $24.95M

2990 & 3000 Red Wolf Drive, Carmel ■ $8.9M

15488 Via La Gitana, Carmel Valley ■ $4.75M

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


Table of Contents

Q3 2019 Market Report

Carmel-by-the-Sea, Carmel Point�������������������������������������������� 4 Greater Carmel���������������������������������������� 6 Carmel Valley������������������������������������������� 8 Pebble Beach��������������������������������������������10 Carmel Highlands, Big Sur & South Coast�������������������������� 12

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

3


Carmel-by-the-Sea & Carmel Point

About Carmel-by-the-Sea

I

Q3 2019 Market Report

Average Selling Price

n Q3 year to date results show Carmel-by-theSea average sales prices are down by 11% as a product of fewer transactions in the $3-5M price range. Like many of our neighboring metropolitan areas, Carmel-by-the-Sea has been aected by the macroeconomic conditions. While the total number of sales remains flat year over year, total dollar volume is down almost 15% further indicating softening of the higher end market.



Q3 2019 Sales by Segment

9%

4%

46%

12%

<$1M | 10 1M-2M | 51 2M-3M | 34 3M-5M | 13 5M+ | 4



vsQ

Sales Volume

M 

vsQ

Units Sold





vsQ

30%

Days on Market



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-by-the-Sea & Carmel Point

Q3 2019 Market Report

Average vs Median Sales Price

Days on Market

$2.5M

100

90

$2M 80

70

$1.5M

60

$1M

2015

2016

2017

Average Sale Price

2018

2019 YTD

50

2015

2016

2017

2018

2019

Median Sale Price

Closed Sales Volume by Quarter

$100M

Closed Sales by Quarter

Average vs Median Sales Price by Quarter

40

$2.75M

$75M $2.25M

$50M

30

$1.75M

$25M

Q1

Q2

2018

Q3

2019

Q4

20

Q1

Q2

2018

Q3

Q4

2019

$1.25M

Q1

Q2

2018 2019

Q3

Q4

2018 Median 2019 Median

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

5


Greater Carmel

Q3 2019 Market Report

About Carmel

Average Selling Price

C

armelâ&#x20AC;&#x2122;s total volume for Q3 remained flat quarter over quarter and year over year. These comparatively positive results are a product of strong sales in the $2M and under price range. After a slow Q1 in number of sales and total sales volume, Q2 and Q3 have rebound to a level comparative to the previous year. Sales velocity has also increased with average days on market decreasing from 111 in Q1 to 83 in Q2 and a low 67 in Q3.



Q3 2019 Sales by Segment

2%

42%

4% 16%

<$1M | 23 1M-2M | 20 2M-3M | 9 3M-5M | 2 5M+ | 1



vsQ

Sales Volume

M 

vsQ

Units Sold





vsQ

36%

Days on Market



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


Greater Carmel

Q3 2019 Market Report

Days on Market

Average vs Median Sales Price

90

$1.75M

$1.5M

60 $1.25M

30 $1M

2015

2016

2017

Average Sale Price

2018

2019 YTD

2015

2016

2017

2018

2019 YTD

Median Sale Price

Closed Sales Volume by Quarter

$50M

Closed Sales by Quarter

Average vs Median Sales Price by Quarter

30

$1.75M

$40M

20

$30M

$1.25M

$20M

10 $10M

Q1

Q2

2018

Q3

2019

Q4

Q1

Q2

2018

Q3

Q4

2019

Q1

Q2

2018 2019

Q3

Q4

2018 Median 2019 Median

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

7


Carmel Valley

Q3 2019 Market Report

About Carmel Valley

A

Average Selling Price

s previously stated, Carmel Valley was significantly impacted by weather in Q1. Number of sales and sales volume were down meaningfully for that period. However, Q2 and Q3 have shown a strong rebound in both the number of units sold and the total dollar sales. Furthermore, while most of the other markers were under significant pricing pressure, Carmel Valley saw a 5.2% increase in average sales price over the previous quarter.

 

Sales Volume

M

Q3 2019 Sales by Segment

5%

55%

4%

vsQ

<$1M | 78 $1M-2M | 50 $2M-3M | 6 $3M-5M | 7 $5M+ | 0



vsQ

Units Sold



nochange 35%

Days on Market



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

Q3 2019 Market Report

Average vs Median Sales Price

Days on Market

$1.25M

90

85

$1M

80

75

2015

2016

2017

Average Sale Price

2018

2019 YTD

2015

2016

2017

2018

2019 YTD

Median Sale Price

Closed Sales Volume by Quarter

$100M

Closed Sales by Quarter

Average vs Median Sales Price by Quarter

80

$1.5M

64

$1.25M

$70M

48 $1M

32

$40M

$0.75M

16

$10M

Q1

Q2

2018

Q3

2019

Q4

Q1

Q2

2018

Q3

Q4

2019

Q1

Q2

2018 2019

Q3

Q4

2018 Median 2019 Median

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

9


Pebble Beach

Q3 2019 Market Report

About Pebble Beach

Average Selling Price

C

onsistent with a number of the high-end Real Estate markets throughout the country, Pebble Beach has been aďŹ&#x20AC;ected by the macroeconomic environment. This market, year over year, has seen the total number of sales decreased by 21%, total sales volume is down 18%, and average sales price is down almost 5%. While the entry level in the market of $1-3M remains strong, the decline in volume is a product of a 33% decrease in sales at the $5M range. A significant amount of this decline was experienced in Q1, whereas Q2 and Q3 were stronger and closer comparatively to the previous year.



Q3 2019 Sales by Segment

11% 16%

vsQ

Sales Volume

M 

vsQ

<$1M | 8 $1M-2M | 46 $2M-3M | 16 $3M-5M | 15 $5M+ | 10

8%



Units Sold





vsQ

17%

48%

Days on Market



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

Q3 2019 Market Report

Average vs Median Sales Price

Days on Market

$3M

120

$2.5M

90

$2M

60

$1.5M

30

2015

2016

2017

Average Sale Price

2018

2019 YTD

2015

2016

2017

2018

2019 YTD

Median Sale Price

Closed Sales Volume by Quarter

$150M

$120M

Closed Sales by Quarter

Average vs Median Sales Price by Quarter

50

$4.25M

40

$3.55M

30

$2.85M

20

$2.15M

10

$1.45M

$90M

$60M

Q1

Q2

2018

Q3

2019

Q4

Q1

Q2

2018

Q3

Q4

2019

Q1

Q2

2018 2019

Q3

Q4

2018 Median 2019 Median

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

11


Carmel Highlands, Big Sur & South Coast

About Carmel Highlands

T

here were 4 closed sales in the Carmel Highlands, Big Sur, and South Coast this quarter, totaling $8M in sales volume. There were only 2 sales in each of the previous quarters. Total sales volume and total sales price is up. We are cautious to put too much weight on these numbers given the small number of transactions that take place in this market.

Average Selling Price

 

vsQ

Sales Volume

M

Q3 2019 Sales by Segment

<$1M | 0 1M-2M | 6 2M-3M | 2 3M-5M | 0 5M+ | 0

25%

Q3 2019 Market Report



vsQ

Units Sold



nochange 75%

Days on Market



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 Highlands, Big Sur & South Coast

Q3 2019 Market Report

Days on Market

Average vs Median Sales Price $3.5M

260

$2.75M

195

$2M

130

$1.25M

65

2015

2016

2017

Average Sale Price

2018

2019 YTD

2015

2016

2017

2018 2019 YTD

Median Sale Price

Closed Sales Volume by Quarter

$30M

Closed Sales by Quarter

Average vs Median Sales Price by Quarter

6

$7M

$23M

$5.25M

4 $16M

$3.5M

2 $8M

$1.75M

Q1

Q2

2018

Q3

2019

Q4

Q1

Q2

2018

Q3

Q4

2019

Q1

Q2

2018 2019

Q3

Q4

2018 Median 2019 Median

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

13


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Q3, 2019 Market Report - Carmel Realty Company  

The latest real estate stats on the Monterey Peninsula for Carmel, Pebble Beach, Carmel Valley, Carmel Highlands and south to Big Sur.

Q3, 2019 Market Report - Carmel Realty Company  

The latest real estate stats on the Monterey Peninsula for Carmel, Pebble Beach, Carmel Valley, Carmel Highlands and south to Big Sur.