Weekly Recap
This week saw 12 new listings brought to market, with a somewhat equal distribution across the peninsula communities. Including 3 new listings along the Big Sur Coast. Asking prices for these newly listed properties range from $679,000, for a home in Palo Colorado Cyn, to 3.3million for a home in the community of Pasadera. The average asking price is $1,761,229 or $982.11 a sqft.
We saw 9 properties go under contract. Once again, the entry level segment of the market saw the most activity across the peninsula. Which continues to show that demand is holding steady. Especially in the entry level price points. This is fueled in part by continued low interest rates, 3.25% on 30 year money, which is expected to remain through the end of the year by promise of the Federal Reserve Bank. In addition to a continued release of pent up demand from those who were priced out of the market in recent years.
We saw 5 closed sales. An impressive sale was another home located off Via La Gitana in the Carmel Valley community of Los Tulares. This home closed at 3.7million or $1,100.54 a sqft after 49 days on market and represents a price record for that community.
