Carmel Highlands Residential Sales Slow in 2016
CARMEL HIGHLANDS SALES in 2016 slowed to a total of 8, as compared to 20 in 2015. This 60% drop in the number of sales is mostly attributed to a lack of any sales over $2.5M. The median selling price in 2016 was $1,862,500 as compared to $2,562,500 in 2015, a drop of 27.32%. The average selling price in 2016 was $2,257,150 compared to $3,090,875 in 2015, a drop of 26.97%.
Median and average sales prices are a guide only to the general market and primarily reflect what segment of the marketplace is currently selling. Individual home values have been consistently strong over the past five years and reflect a continuing recovery from the depths of the great recession in 2008-2009.
ONE FACTOR AFFECTING THE HIGH END of the Carmel Highlands marketplace is the slowdown from the frenzied pace of price appreciation in San Francisco and the Bay Area. Over 60-65% of our buyers come from Los Gatos-Saratoga, north to San Francisco and Marin. When their markets are returning to a more normal pace, we feel the adjustments in our area.
2017 Carmel Highlands Market Update | Market Projections
In 2017 we expect high end sales to once again be a factor in the marketplace and sales numbers to return to the approximate 14 per year average for the past 9 years.
Carmel Highlands Quick Facts
- Elevation – 383ft
- Developed – 1916
- Famous Homes – Wildcat Hill
- Famous Artists – Edward Weston, Ansel Adams, William Ritschel
- Geography – Rugged Coastal
- Famous Trees – Cypress
2017 Carmel Highlands Market Update | Where Am I?
CHAINE DES ROTISSEURS. Emblem of the International Association of Gastronomy bringing together enthusiasts sharing the same values of quality, fine dining, and culinary arts.
Back in the Day | 2017 Carmel Highlands Market Update
CARMEL HIGHLANDS IS AN UNINCORPORATED community located 3.5 miles south of Carmel-by-the-Sea and serves as the northern gateway of the Big Sur coastline. In 1896, T.A. Work, the historical Monterey land developer, purchased the 1600 acres that is now known as Carmel Highlands. Years later Work sold the land to Frank Powers and Frank Devendorf (the founders of Carmel).
In 1916 Powers and Devendorf laid out the roads for their new development. One of their early projects was the historic and rustic Highlands Inn.
The rugged coastline and scenic beauty has long attracted homeowners, artists, and writers including long time residents Ansel Adama and the world renown marine painter William Ritchel.
“If there is time to reflect, slowing down is likely to be a good idea.” – Daniel Kahneman
Tip O’ the Month!
PG&E offers free gas appliance checks to keep customers safe and warm. Take advantage of this opportunity and call PG&E at 831.648.3231
CARMEL HIGHLANDS offers many opportunities to stroll down a winding lane. Around each bend is a view to awaken your spirits and revive your senses.
FEBRUARY 18, 2017, 10:00AM
Point Lobos: Easy Access Adventure – Whalers Cove/Granite Point Trail – Visitors of all abilities are invited to experience the Easy Access Trails at Point Lobos. You are welcome to tour at your own pace.
MARCH 16-19, 2017
Relais & Chateaux GourmetFest – An international food and wine festival in the village of Carmel-by-the-Sea featuring talents from Chefs from around the world.