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, with Carmel Realty Company representing both seller and buyer. 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. irty homes remain on the market heading into Q3, the most over the last nine months. is includes 15 homes over $5M, four of which are over $10M. ere 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% 15% versus Q1 2023 versus Q2 2022 e Lone Cypress tree, located on 17-Mile Drive in Pebble Beach, is a scenic landmark for the Peninsula and is nearly 300 years old. Monterey Cypress trees are a species native only to this region and can live up to 4,000 years.

Did You Know?

Carmel Highlands, Big Sur & South Coast

Five closed sales during Q2 matched the previous quarter and was down from eight in Q2 2022. $24.5M of the $31.9M in total sales volume for the quarter came from a single sale in Big Sur. With the remaining four sales making up just $7.4M, the median sale price dropped to $1.55M for the quarter. Eleven of the 15 active listings on the market are above $3M in list price.

Average Selling Price

$6,380,000

118.5% 30.9% versus Q1 2023 versus Q2 2022

Days on Market

78

27.1% 8.2% versus Q1 2023 versus Q2 2022

Sales Volume

$31,900,000

118.5%

18.2% versus Q1 2023 versus Q2 2022

Units Sold

5 no change 37.5% versus Q1 2023 versus Q2 2022 e Bixby Bridge in Big Sur was built by prisoners eager to earn “good time” o their prison sentences. It is one of the world’s highest single-span bridges at 714 feet long by 260 feet high.

Did You Know?

A Cornerstone in Luxury Real Estate for Over 100 Years

Carmel Realty Company was founded in 1913, predating the incorporation of the City of Carmel. For four generations since then, e Mitchell Family has been a leader in the Real Estate market in Carmel and Pebble Beach. When the Mitchell Family sold their billion-dollar real estate company, e Mitchell Group, to Sotheby’s International Realty in August 2005, Dan and Shelly Mitchell Lynch purchased Carmel Realty Company in order to continue its century of quality and rich tradition as local, luxury real estate experts. e goal was to remain local business owners and to maintain the family’s impeccable position in the local real estate market. Carmel Realty Company is the oldest real estate company in Carmel with a rich history and heritage of being family-owned and a reputation for integrity, longevity and excellence. Our longevity is no accident. It is an incredible brand and brand name. Carmel Realty Company has been in business since 1913, and we operate upon the principles of integrity, work ethic, teamwork, collaboration, communication and customer service. We are very excited and proud of the company, the vision and our team of professionals who have been hand-picked, proven and benchmarked as the best in the business.