Carmel-by-the-Sea, Carmel Point, Greater Carmel, Carmel Valley, Pebble Beach, Carmel Highlands, Big Sur & South Coast
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
Top Sales This Year
2019 Market Report
3256 17 Mile Drive, Pebble Beach ■ LP: $32M Represented Buyer & Seller
1536 Cypress Drive, Pebble Beach ■ LP: $31.5M Represented Seller
3908 Ronda Road, Pebble Beach ■ LP: $12M Represented Buyer & Seller
NE Corner of Scenic & 8th, Carmel-by-the-Sea ■ LP: $7.5M Represented Buyer & Seller
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
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
C
2019 Market Report
Average Selling Price
armel-by-the-Sea and Carmel Point performed quite well throughout 2019. While most of our other markets experienced more volatility in units sold and pricing quarter by quarter, Carmel was steady all year. The total number of sales went up 11% while the average sales price decreased by 7% and total sales volume increased 3%. There was particular strength in the number of transactions in the $1-2M range of the market but the rest of the price ranges also performed well.
2019 Sales by Segment
10% 5% 11% 29%
45%
<$1M | 15 1M-2M | 66 2M-3M | 43 3M-5M | 16 5M+ | 7
vs
Sales Volume
M
vs
Units Sold
Days on Market
vs
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
2019 Market Report
Days on Market
Average vs Median Sales Price $2.5M
100
$2M
75
$1.5M
50
$1M
25
2015
2016
2017
Average Sale Price
2018
2015
2019
2016
2017
2018
2019
Median Sale Price
Closed Sales Volume by Quarter
Closed Sales by Quarter
$100M
40
$75M
30
Average vs Median Sales Price by Quarter $2.75M
$2.25M
$50M
20
$25M
10
$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
5
Greater Carmel
2019 Market Report
About Greater Carmel
G
Average Selling Price
reater Carmel is considered neighborhoods of Carmel that fall outside of Carmel-by-the-Sea proper and Carmel Point. These neighborhoods experienced a slow start to the year. Poor weather and macroeconomic factors caused a major reduction in sales units and overall volume in the first several months of 2019. A strong second half made up significant ground in sales and volume. Final numbers show average sale price down 4%, unit sales down 14% and total volume oďŹ&#x20AC; year over year by 18%.
4%
42%
14%
vs
Sales Volume
M
2019 Sales by Segment
1%
vs
<$1M | 32 1M-2M | 30 2M-3M | 11 3M-5M | 3 5M+ | 1
Units Sold
vs
39% 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
2019 Market Report
Days on Market
Average vs Median Sales Price $1.75M
90
$1.5M
67.5
$1.25M
45
$1M
22.5
2015
2016
2017
Average Sale Price
2018
2015
2019
2016
2017
2018
2019
Median Sale Price
Closed Sales Volume by Quarter
$50M
Closed Sales by Quarter
Average vs Median Sales Price by Quarter
30
$2M
20
$1.5M
10
$1M
$38M
$25M
$13M
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
2019 Market Report
About Carmel Valley
Average Selling Price
C
armel Valley had a very strong Q4. There was almost four times the sales volume in Q4 compared to Q1 of this year. The sales volume was only down 3% compared to the Carmel area being down by 18%. The average sales price is also up quarter over quarter bringing it to just over $1.3M for the year. The major support comes from the sales growth of homes under $2M.
vs
Sales Volume
M
2019 Sales by Segment
1% 6% 7%
54%
vs
<$1M | 108 1M-2M | 65 2M-3M | 13 3M-5M | 12 5M+ | 2
Units Sold
vs
33% 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
2019 Market Report
Average vs Median Sales Price
Days on Market
$1.5M
100
$1.25M
75
$1M
50
$0.75M
25
2015
2016
2017
Average Sale Price
2018
2019
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
80
$1.5M
64
$78M
$1.25M
48
$55M
$1M
32
$33M
$0.75M
16
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
2019 Market Report
About Pebble Beach
A
Average Selling Price
fter a slow start in Q1, Pebble Beach had a strong year in 2019. The purchase of second homes in Pebble Beach is mostly discretionary. With government shutdown, trade and stock market issues in Q1 buyers waited for things to settle down. Volume picked up after Q1 and total sales dollars in Q4 almost tripled Q1. Results were impacted by a strength at the high price points with 3 transactions over $20M for the year. These sales also helped drive average sale price up by 13% year over year.
vs
Sales Volume
M
2019 Sales by Segment
9% 6% 16%
49%
vs
<$1M | 11 $1M-2M | 60 $2M-3M | 25 $3M-5M | 19 $5M+ | 7
Units Sold
20% Days on Market
vs
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
2019 Market Report
Average vs Median Sales Price
Days on Market
$3.2M
120
$2.65M
90
$2.1M
60
$1.55M
30
2015
2016
2017
Average Sale Price
2018
2019
2015
2016
2017
2018
2019
Median Sale Price
Closed Sales Volume by Quarter
$150M
Closed Sales by Quarter
Average vs Median Sales Price by Quarter
50
$4.5M
40
$120M
$3.5M
30
$90M
$2.5M
20
$60M
$1.5M
10
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
2019 Market Report
Average Selling Price
he Big Sur, South Coast, Carmel Highlands market typically does not have enough transaction volume for data to be predictive. This year there were 9 sales in this area compared to 18 in 2018. Inclement weather and heavy rains increasingly impact sales in this region. The second half of the year was much more active than the first half. With a number of strong oceanfront and ocean view listings, we expect 2020 to be healthy year.
2019 Sales by Segment
11% 22%
67%
<$1M | 0 $1M-2M | 6 $2M-3M | 2 $3M-5M | 0 $5M+ | 1
vs
Sales Volume
M
vs
Units Sold
vs
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
2019 Market Report
Average vs Median Sales Price
Days on Market
$3.5M
260
$2.75M
195
$2M
130
$1.25M
65
2015
2016
2017
Average Sale Price
2018
2019
2015
2016
Closed Sales Volume by Quarter
Closed Sales by Quarter
$7M
$23M
6
$5.25M
$16M
4
$3.5M
$8M
2
$1.75M
Q2
2018
Q3
2019
2019
Average vs Median Sales Price by Quarter
8
Q1
2018
Median Sale Price
$30M
$1M
2017
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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