Carmel & Pebble Beach Market Report, Real Estate, Carmel Realty

Q1 2014 Report

Recent Significant Sale | 2987 The Old Drive, Pebble Beach | List Price: $4,995,000 Listed By Chris Pryor

Dear Friends, Both Carmel and Pebble Beach finished the year with strong quarters, resulting in better than average results for Yr End ’12. The lower end price brackets were mainly responsible for the better than average yearly performance figures in both geographies. Once again, I will be reporting on an abbreviated Geography in Carmel. It includes homes above $1 million in the Golden Rectangle (Dolores to Scenic), all of Carmelo, all of San Antonio, Scenic, Bayview, Ocean View, and Valley View. My Pebble Beach statistics cover all activity in the Forest for properties over $1 million. I am happy to report above average performance for Carmel and such strong numbers for Pebble Beach. I am confident we have bounced off the bottom and with some additional inventory I believe we will experience a strong 2013. Activity levels are strong and I believe we will begin to see prices heading up at a slow but encouraging rate.

If you have any questions or would like to discuss my findings I would be happy to answer phone calls or an email.

Steve LaVaute & Chris Pryor

Steve LaVaute

Chris Pryor

831.241.1434 | Steve@CarmelRealtyCompany.com

831.229.1124 | Chris@CarmelRealtyCompany.com

Q1 2014 Report Pebble Beach Results: 1. Pebble Beach continued its robust performance quarter to quarter. The result for the year was 66 homes sold vs. an average of 48 for the 9 year period.

This represents 138% of an average year.

2. The Inventory of Active Homes for Sale is 50. Much like in the Carmel Geography we find the Inventory to be below the recent annual sales rate. The current inventory is at 76% of last years Sales.

3. The number of sales at or above List price of only 2 units is less than I would have expected considering the strength of the number of houses sold. This is not alarming as the average discount off of List Price was 25% less than average.

4. The DOM (Days on Market) was 30% greater than average (179 vs. 123).

With the robust sales figure and the higher than average DOM figure the result is that many homes that have been on the market for an extended time have sold. In recent years this is the first time the average DOM for Active listings has been under 300 days.

5. Much like the Carmel Geography the Sales figures are dominated by the lower price brackets. 48 of the 66 sales were less that $2.5million. A special note is that the inventory in the lower brackets is only 13 houses. With similar demand in these brackets should result in upward price pressure.

6. The average discount off of List Price in Pebble Beach of 7.7% was strong especially after such a robust sales performance.

PEBBLE BEACH STATISTICS Yr End 2012 Sold Price Ranges

2004

2005

2006

2007

2008

2009

2010

2011

2012

Avg.

Q1’12

Q2’12

Q3’12

Q4’12

2012

Active YTD

Pending YTD

$1 - $1.5 M

13

3

1

5

5

9

12

7

25

9

7

8

6

4

25

7

3

$1.5 - $2 M

19

13

8

14

9

9

13

10

15

12

2

2

4

7

15

2

1

$2 - $2.5 M

16

9

11

9

7

5

5

6

8

8

5

0

2

1

8

4

1

$2.5 - $3 M

4

5

11

5

5

7

3

4

5

6

2

1

2

0

5

8

1

$3 - $4 M

7

11

4

8

8

2

3

9

3

6

1

1

0

1

3

8

1

$4 - $8 M

1

3

1

3

3

2

3

8

8

4

4

2

2

0

8

10

1

$8 M+

5

7

3

4

4

2

0

1

2

3

0

0

1

1

2

11

0

Total

65

51

39

48

41

36

39

45

66

48

21

14

17

14

66

50

8

At or Above List Price

9

10

3

5

4

0

1

8

2

5

1

1

0

0

2

n/a

na

Average DOM

87

90

93

87

151

140

121

159

179

123

236

164

136

177

179

299

82

List Vs. Sales

-8.5

-7.7

-9.3

-7.5

-16

-16

-11.6

-7

-7.7

-10.1

-9.6

-7

-6.4

-9

-7.7

na

na

2010,2011,2012

2012 Quarterly

30

30

22.5

22.5

15

15

7.5

7.5

0 $1 - $1.5 M $2 - $2.5 M 2010

$3 - $4 M

2011

Steve LaVaute

$8 M+ 2012

0 Q1’12

$1.5 - $2 M $2.5 - $3 M Q2’12

Steve LaVaute & Chris Pryor, Carmel Realty

Q3’12

$4 - $8 M Q4’12

2012

Chris Pryor

831.229.1124 | Chris@CarmelRealtyCompany.com 831.241.1434 | Steve@CarmelRealtyCompany.com Cell: (831) 241-1431, Email:slavaute@gmail.com, Cell: (831) 229-1124, chris@carmelrealtycompany.com Information believed to be reliable as obtained from Monterey County Assoc. of Realtors, Pro MLS Listings.

Q1 2014 Report Carmel Results: 1. Carmel results were 46 homes sold vs. a 9-year average of 44 homes sold. This is the second time since 2007 that sales exceeded the 9-year average.

2. For Year End there were 5 homes that sold at or above the current List price.

While the List price may not be the original List price it is the most recent.

3. The Active inventory of homes for sale in this Geography is 31 homes. This is the first time in 4 years that the inventory level was not at or above the average years sales over the 9-year period.

4. The average DOM (Days on Market) was 163 days from List date to Close of Escrow. While this is higher than the 9-year average it is encouraging that many of the Active homes have been listed for sale for an extended period of time. In most cases these homes were over priced.

5. The lower price brackets continue to dominate the Sales in both Geographies.

40 of the 46 Sales were less than $3million. The corresponding inventory of homes for sale in these brackets is 12 homes. Continued demand in the lower brackets should produce upward price pressure.

6. The average discount off of List Price was 8.2% vs. 12% average over the 9-year period.

CARMEL STATISTICS Yr End 2012 Sold Price Ranges

2004

2005

2006

2007

2008

2009

2010

2011

2012

Avg.

Q1’12

Q2’12

Q3’12

Q4’12

2012

Active YTD

Pending YTD

$1 - $1.5 M

13

3

1

5

5

9

12

7

18

7

4

4

6

4

18

3

0

$1.5 - $2 M

19

13

8

14

9

9

13

10

9

10

1

2

2

4

9

0

1

$2 - $2.5 M

16

9

11

9

7

5

5

6

7

9

0

3

2

2

7

6

0

$2.5 - $3 M

4

5

11

5

5

7

3

4

6

5

0

3

1

2

6

3

0

$3 - $4 M

7

11

4

8

8

2

3

9

2

6

0

1

1

0

2

8

2

$4 - $5 M

1

3

1

3

3

2

3

8

2

2

1

1

0

0

2

5

0

$5 M +

5

7

3

4

4

2

0

1

2

4

1

0

1

0

2

6

0

Total

65

51

39

48

41

36

39

45

46

44

7

14

13

12

46

31

3

At or Above List Price

9

10

3

5

4

0

1

8

5

4

2

2

0

1

5

n/a

n/a

Average DOM

87

90

93

87

151

140

121

159

163

134

164

138

129

221

163

345

164

List Vs. Sales

-8.5

-7.7

-9.3

-7.5

-16

-16

-11.6

-7

-8.2

-12

-6

-8.4

-8

-9

-8.2

na

na

2010,2011,2012

2012 Quarterly

20

20

15

15

10

10

5

5

0 $1 - $1.5 M $2 - $2.5 M 2010

$3 - $4 M

2011

Steve LaVaute

$5 M + 2012

0 Q1’12

$1.5 - $2 M $2.5 - $3 M Q2’12

Q3’12

$4 - $5 M Q4’12

2012

Chris Pryor

Steve LaVaute & Chris Pryor, Carmel Realty Company

831.229.1124 | Chris@CarmelRealtyCompany.com 831.241.1434 | Steve@CarmelRealtyCompany.com Steve LaVaute Cell: (831) 241-1431 Email:slavaute@gmail.com, Chris Pryor Cell: (831) 229-1124 Information believed to be reliable as obtained from Monterey COunty Assoc. of Realtors, Pro MLS Listings.