Editor's note: Real estate experts Dana Bambace and Mark Peterson talk about Pebble Beach and Carmel, California real estate during the 3rd quarter of 2020 in this Q&A with Haute Residence.
How did the third quarter of 2020 real estate perform in Pebble Beach and Carmel?
Locally, annual median price for the Carmel-Monterey region is up 12% year-over-year for Q3. The number of homes sold during Q32020 is 75% higher than Q32019.
Photo Credit: Courtesy of the Bambace Peterson Team
Photo Credit: Courtesy of the Bambace Peterson TeamBrioza
Photo Credit: Courtesy of the Bambace Peterson Team
How has your market been doing so far this year compared to this time last year?
Comparing local year-to-date homes sold is up, inventory down, and the average days on market lower.
• In Carmel, the average active/ pending inventory is down 31%.
• In Pebble Beach, the average active/ pending inventory is down 17%
• We do have some pockets that have performed even stronger compared to last year. Areas like Carmel Valley, where the average median price is up 22.7%, with home sales up 30% year over year.
Here are the specific numbers:
Year-to-date through September 2020 versus September 2019:
Photo Credit: Courtesy of the Bambace Peterson Team
Year-to-date through September 2020 versus September 2019:
Photo Credit: Courtesy of the Bambace Peterson Team
Do you expect a more or less active 4th quarter for this year than previous years?
Overall, we expect our fourth quarter to continue to outperform last year. The only thing holding back sales right now is low inventory.
There are a lot of pending sales that will push through this year and are going to really lift the annual average median price, total home sales and sales volumes. It will end as a record year.
And we are seeing people make the changes they want and expect it to continue into 2021.
People continue to look for more space and lifestyle living for their overall well-being. This stunning private estate (see images below) on nearly 9 secluded acres in front the picturesque Carmel River is located in Carmel Valley, where the average median price is up 22.7%, with home sales up 30% year over year.
Photo Credit: Adam Brioza
Photo Credit: Adam Brioza
Photo Credit: Adam Brioza
Click "Learn More" above to contact Dana and Mark.
