Pebble Beach sales continue to show a lackluster pace. Pebble Beach January Sales were 8, down from 9 in January 2011, and down 33% from the 12 sales in December. On a positive note, two of the sales were over $5,000,000 indicating a hopeful renewal of interest in higher end properties.

Another positive indicator is the continuing drop in inventory. A lower level of inventory is a precursor to a more balanced and vibrant marketplace. For a complete analysis please see Market Action Report – Pebble Beach YTD January 2012