Posted on 31 Aug
With many buyers rethinking what they want in a home and a hometown, Carmel-by-the-Sea & Pebble Beach are seeing record-breaking home sales within the community. Founding Agent of The Agency’s Carmel office, Cicily Sterling, says that there has been a significant uptick in buyers from the big cities looking to move to the Monterey Peninsula. She says pricing in the market has held strong, as supply remains limited. While Carmel has primarily been a vacation destination, Cicily says community dynamics are changing as the region sees an influx of new full-time residents.
“With new homes typically requiring two to three years of permitting and construction, undeveloped property has always been secondary to home sales,” Cicily explains. “However, property sales are on the rise, another indication that the type of buyer in the market is seeking a primary residence, as opposed to a second home.” A testament to the interest in undeveloped property, Cicily set a new record for property sales in the Poppy Lane region of Pebble Beach with the recent sale of 33 Poppy Lane, which sold for 30% more than the neighboring comps.
Meanwhile, Managing Director of The Agency in Carmel, Braden Sterling, also serves as the Principal of Sterling | Huddleson Architecture, which has designed numerous homes in the region and those designs are accredited with setting new market records proving design does matter. Multiple Sterling designed Pebble Beach homes recently set new market records with one in particular selling for twice the neighboring comparable and a Sterling home under construction on the coast in The Carmel Highlands set an all-time sales record in the area at $16.1 million, which was also the highest sale in Carmel since 2015.
It’s no wonder buyers are drawn to Carmel-by-the-Sea, one of California’s most beautiful coast enclaves, located about 330 miles north of Los Angeles and 120 miles south of San Francisco. It’s long been cherished for its scenic coastline, small-town charm and quaint downtown, home to renowned shops, galleries, tasting rooms and cafes.
And of course, one of the area’s biggest draws, the Pebble Beach Golf Links, is arguably the most iconic golf course in the United States. The Number One-rated public course in the world has reopened after Monterey County relaxed some restrictions enacted during the Coronavirus pandemic. The course hugs the curving coastline from its cliff-top setting, capturing far-reaching views. On a short drive in any direction on the Monterey Peninsula, there are superb courses and rolling green fairways to be found.
Learn more about the Carmel market and available real estate by contacting The Agency’s Cicily Sterling at Cicily.Sterling@TheAgencyRE.com.