Carmel-by-the-Sea, Carmel Point, Greater Carmel, Carmel Valley, Pebble Beach, Carmel Highlands, Big Sur & South Coast
Q3 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
Q3 2019 Market Report
3188 17 Mile Drive, Pebble Beach ■ $26.5M
Timeless Pebble Beach Estate, Pebble Beach ■ $24.95M
2990 & 3000 Red Wolf Drive, Carmel ■ $8.9M
15488 Via La Gitana, Carmel Valley ■ $4.75M
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
Q3 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
I
Q3 2019 Market Report
Average Selling Price
n Q3 year to date results show Carmel-by-theSea average sales prices are down by 11% as a product of fewer transactions in the $3-5M price range. Like many of our neighboring metropolitan areas, Carmel-by-the-Sea has been aected by the macroeconomic conditions. While the total number of sales remains flat year over year, total dollar volume is down almost 15% further indicating softening of the higher end market.
Q3 2019 Sales by Segment
9%
4%
46%
12%
<$1M | 10 1M-2M | 51 2M-3M | 34 3M-5M | 13 5M+ | 4
vs Q
Sales Volume
M
vs Q
Units Sold
vs Q
30%
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-by-the-Sea & Carmel Point
Q3 2019 Market Report
Average vs Median Sales Price
Days on Market
$2.5M
100
90
$2M 80
70
$1.5M
60
$1M
2015
2016
2017
Average Sale Price
2018
2019 YTD
50
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
40
$2.75M
$75M $2.25M
$50M
30
$1.75M
$25M
Q1
Q2
2018
Q3
2019
Q4
20
Q1
Q2
2018
Q3
Q4
2019
$1.25M
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
Q3 2019 Market Report
About Carmel
Average Selling Price
C
armelâ&#x20AC;&#x2122;s total volume for Q3 remained flat quarter over quarter and year over year. These comparatively positive results are a product of strong sales in the $2M and under price range. After a slow Q1 in number of sales and total sales volume, Q2 and Q3 have rebound to a level comparative to the previous year. Sales velocity has also increased with average days on market decreasing from 111 in Q1 to 83 in Q2 and a low 67 in Q3.
Q3 2019 Sales by Segment
2%
42%
4% 16%
<$1M | 23 1M-2M | 20 2M-3M | 9 3M-5M | 2 5M+ | 1
vs Q
Sales Volume
M
vs Q
Units Sold
vs Q
36%
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
Q3 2019 Market Report
Days on Market
Average vs Median Sales Price
90
$1.75M
$1.5M
60 $1.25M
30 $1M
2015
2016
2017
Average Sale Price
2018
2019 YTD
2015
2016
2017
2018
2019 YTD
Median Sale Price
Closed Sales Volume by Quarter
$50M
Closed Sales by Quarter
Average vs Median Sales Price by Quarter
30
$1.75M
$40M
20
$30M
$1.25M
$20M
10 $10M
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
Q3 2019 Market Report
About Carmel Valley
A
Average Selling Price
s previously stated, Carmel Valley was significantly impacted by weather in Q1. Number of sales and sales volume were down meaningfully for that period. However, Q2 and Q3 have shown a strong rebound in both the number of units sold and the total dollar sales. Furthermore, while most of the other markers were under significant pricing pressure, Carmel Valley saw a 5.2% increase in average sales price over the previous quarter.
Sales Volume
M
Q3 2019 Sales by Segment
5%
55%
4%
vs Q
<$1M | 78 $1M-2M | 50 $2M-3M | 6 $3M-5M | 7 $5M+ | 0
vs Q
Units Sold
no change 35%
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
Q3 2019 Market Report
Average vs Median Sales Price
Days on Market
$1.25M
90
85
$1M
80
75
2015
2016
2017
Average Sale Price
2018
2019 YTD
2015
2016
2017
2018
2019 YTD
Median Sale Price
Closed Sales Volume by Quarter
$100M
Closed Sales by Quarter
Average vs Median Sales Price by Quarter
80
$1.5M
64
$1.25M
$70M
48 $1M
32
$40M
$0.75M
16
$10M
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
Q3 2019 Market Report
About Pebble Beach
Average Selling Price
C
onsistent with a number of the high-end Real Estate markets throughout the country, Pebble Beach has been aďŹ&#x20AC;ected by the macroeconomic environment. This market, year over year, has seen the total number of sales decreased by 21%, total sales volume is down 18%, and average sales price is down almost 5%. While the entry level in the market of $1-3M remains strong, the decline in volume is a product of a 33% decrease in sales at the $5M range. A significant amount of this decline was experienced in Q1, whereas Q2 and Q3 were stronger and closer comparatively to the previous year.
Q3 2019 Sales by Segment
11% 16%
vs Q
Sales Volume
M
vs Q
<$1M | 8 $1M-2M | 46 $2M-3M | 16 $3M-5M | 15 $5M+ | 10
8%
Units Sold
vs Q
17%
48%
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
Q3 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
$120M
Closed Sales by Quarter
Average vs Median Sales Price by Quarter
50
$4.25M
40
$3.55M
30
$2.85M
20
$2.15M
10
$1.45M
$90M
$60M
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
here were 4 closed sales in the Carmel Highlands, Big Sur, and South Coast this quarter, totaling $8M in sales volume. There were only 2 sales in each of the previous quarters. Total sales volume and total sales price is up. We are cautious to put too much weight on these numbers given the small number of transactions that take place in this market.
Average Selling Price
vs Q
Sales Volume
M
Q3 2019 Sales by Segment
<$1M | 0 1M-2M | 6 2M-3M | 2 3M-5M | 0 5M+ | 0
25%
Q3 2019 Market Report
vs Q
Units Sold
no change 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
Q3 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
Closed Sales by Quarter
Average vs Median Sales Price by Quarter
6
$7M
$23M
$5.25M
4 $16M
$3.5M
2 $8M
$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
13
A Cornerstone in Luxury Real Estate for Over One Hundred Years Courtney Adamski
Marta Karpiel
Rebecca Wolf Arnold
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David Kent
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Greg Kraft
James Bell
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Peter Butler
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Bobbie Ehrenpreis
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