The sales of single family homes were 24 during the month of December . In December of 2014, the corresponding number was 13.
Overall for 2015, there were 228 sales. 2014 for the year came in at 242 transactions. Median prices were not that much different in that 2014 showed $1,425,000 and 2015 showed $1,451,000.
According to the Carmel Pine Cone on December 18, 2015, "the highest recorded sale in Carmel-by-the-Sea" took place when Carl Panattoni sold 10 Carmel Way to Andrew M. Paul for $27,000,000.
Further research shows that the property consists of Assessor's Parcel Numbers 010-321-036-000 and 010-321-037-000.
The Buyer financed the purchase in part with a loan from Bank of America in the amount of $18,900,000.
From November 17, there have been 28 properties that went under contract . In 2014 for the same period, 11/17-12/16 only 13 properties were sold. The median pricefor the 2014 sales was $1,200,000. A higher median is expected for 2015 when the sales prices for the period are revealed.
The observation pertains to the area that includes Carmel Meadows to the South up to Carmel Woods and includes Jacks Peak.
There are currently 79 homes active in the area, an inventory that is much lower than we have seen for a long time. Prices for the actives range from $695,000 to $18,500,000.
Recently, we have seen a decrease in inventory. As a consequence, properties have been selling at higher prices.
Pedersen Properties is soon to launch their brand new Financial Blog to help potential homebuyers and already existing homeowners with Financial Investments, trends in Real Estate and more. Stay tuned!