Pebble Beach

High-priced sales remained hard to come by in Pebble Beach during Q2 2023. Just one sale over $10M occurred in Q2, closing on the last day of the quarter. MCR’s sister-brokerage, Carmel Realty Company, represented both seller and buyer on this sale. Just 17 sales and $63.8M in total sales volume closed in the quarter, each result being the lowest in the area over the last three years. Th irty homes remain on the market heading into Q3, the most over the last nine months. Th is includes 15 homes over $5M, four of which are over $10M. There are a few healthy sales currently in escrow and expected to close in Q3, indicating a much stronger quarter ahead in Pebble Beach.

AVERAGE SELLING PRICE

$3,751,294

4.4% 24.3% versus Q1 2023 versus Q2 2022

DAYS ON MARKET

48

41.2% 17.1% versus Q1 2023 versus Q2 2022

SALES VOLUME

$63,772,000

29% 35.7% versus Q1 2023 versus Q2 2022

UNITS SOLD

17

32% 32% versus Q1 2023 versus Q2 2022