Carmel, Carmel-by-the-Sea, Carmel Valley, Pebble Beach, Carmel Highlands, Big Sur & South Coast
Q2 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
Q2 2019 Market Report
3256 17 Mile Drive, Pebble Beach ■ $32M
230 Highway 1, Carmel Highlands ■ $15.95M
3347 17 Mile Drive, Pebble Beach ■ $13.998M
15 Alta Madera, Tehama ■ $10.5M
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
Q2 2019 Market Report
Carmel, & Carmel-by-the-Sea ����������������������������������� 4 Carmel Valley ������������������������������������������� 6 Pebble Beach ��������������������������������������������� 8 Carmel Highlands, Big Sur & South Coast ���������������������������10
Dolores South of Seventh ■ P.O. Drawer C Carmel-by-the-Sea, California 93921 Office: 831.622.1000 ■ Fax: 831.624.7338
3
Carmel & Carmel-by-the-Sea
About Carmel
Q2 2019 Market Report
Average Selling Price
I
n Q2, Carmel experienced a 41% increase in sales volume over the preceding quarter. This strong quarter is comparable to the previous year and signals a potential rebound from a slow Q1, 2019. The poor Q1 results stem from earlier macroeconomic concerns, a volatile Bay Area market and inclement weather. The number of sales in Q2 increased by 36 for a total of 88 transactions. The pipeline in Carmel is also strong with 36 homes currently in escrow.
Q2 2019 Sales by Segment
<$1M | 37 1M-2M | 50 2M-3M | 33 3M-5M | 15 5M+ | 5
26%
4% 11% 36%
vs Q
Sales Volume
M
vs Q
Units Sold
vs Q
24%
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 & Carmel-by-the-Sea
Q2 2019 Market Report
Average vs Median Sales Price
Days on Market
$2M
100
$1.75M
75
$1.5M
50
$1.25M
25
2015
2016
2017
Average Sale Price
2018
2019 YTD
2015
2016
2017
2018
2019 YTD
Median Sale Price
Closed Sales Volume by Quarter
Average vs Median Sales Price by Quarter
Closed Sales by Quarter
$180M
120
$160M
90
$2.25M
$1.75M
$140M
60
$120M
30
$1.25M
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
Q2
2018 2018 2019
Q3
Q4
2017 Median 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
Carmel Valley
Q2 2019 Market Report
About Carmel Valley
Average Selling Price
T
he number of sales in Carmel Valley during Q2 increased dramatically, almost doubling sales from the previous quarter going from 21 in Q1 to 39 in Q2. This is the most sales weâ&#x20AC;&#x2122;ve seen in Carmel Valley in the past 6 quarters. Average sales price continues to climb and is now at $1,117,907 with 45% of the sales YTD in the $1M-$2M range.
vs Q
Sales Volume
M
Q2 2019 Sales by Segment
48%
2% 5%
<$1M | 29 $1M-2M | 27 $2M-3M | 3 $3M-5M | 1 $5M+ | 0
vs Q
Units Sold
vs Q
45%
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
Q2 2019 Market Report
Average vs Median Sales Price
Days on Market
$1.3M
90
$1.04M
82.5
$0.78M
75
$0.51M
67.5
2015
2016
2017
Average Sale Price
2018
2015
2019 YTD
2016
2017
2018
2019 YTD
Median Sale Price
Closed Sales Volume by Quarter
$50M
Average vs Median Sales Price by Quarter
Closed Sales by Quarter
50
$1.3M
40
$40M
$1.12M
30
$30M 20
$20M
$0.93M
10
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
Q2
2017 2018 2019
Q3
Q4
2017 Median 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
Pebble Beach
Q2 2019 Market Report
About Pebble Beach
Average Selling Price
P
ebble Beach had a strong Q2 with the number of sales up 21% over Q1. Like Carmel, the downturn in Pebble Beach over the previous two quarters was driven by macroeconomic concerns, the fluctuating Bay Area market, and record rainfall. A single $24M sale contributed to the marketâ&#x20AC;&#x2122;s 100% increase in total sales volume and its 67% increase in average sales price. 6 months of available inventory and 15 properties currently in escrow suggest a strong Q3.
Q2 2019 Sales by Segment
vs Q
Sales Volume
M
vs Q
10%
<$1M | 6 $1M-2M | 32 $2M-3M | 11 $3M-5M | 7 $5M+ | 6
10%
11%
Units Sold
vs Q
18% 52%
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
Q2 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
Average vs Median Sales Price by Quarter
Closed Sales by Quarter
50
$4.25M
40
$120M
$3.5M
30
$90M
$2.75M
20
$60M
$2M
10
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
Q2
2017 2018 2019
Q3
Q4
2017 Median 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
Carmel Highlands, Big Sur & South Coast
About Carmel Highlands
T
he Carmel Highlands, South Coast and Big Sur Markets have been slow over the first six months of the year with only four total sales closing. Total Q2 volume of $3.65M is consistent with that of the previous two quarters but remains less than half of what these markets historically produce. There is great opportunity in this market for buyers with 22 properties currently for sale.
Q2 2019 Market Report
Average Selling Price
vs Q
Sales Volume
M
Q2 2019 Sales by Segment
<$1M 1M-2M | 3 2M-3M | 1 3M-5M | 0 5M+ | 0
25%
vs Q
Units Sold
vs Q
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
Q2 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
Average vs Median Sales Price by Quarter
Closed Sales by Quarter
6
$7M
$23M
$5.25M
4 $16M
$3.5M
2 $8M
$1.75M
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
2017
Q2
Q3
2018
Q4
2019
Q1
Q2
2017 2018 2019
Q3
Q4
2017 Median 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
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