Building Dreams, one Home at a Time
Our Goal is to help you navigate the complexities of Silicon Valley Real Estate such that you are happy to recommend us to your family and friends.
2221 Oakland Road #268, San Jose, CA 95131
Pebble Beach is an unincorporated area of Monterey County, and is a resort destination and home to the famous golf courses of Cypress Point Club, Monterey Peninsula Country Club, and Pebble Beach Golf Links.
“In planning the development of the Del Monte Forest, we first laid down a system of parks and bridle paths and roads which would forever protect the character of the region and make it possible for those who loved its natural beauty to travel freely in all directions over unspoiled territory. … The Seventeen Mile Drive of today still goes through wooded areas to open waterfronts; there are still herds of deer; the rocks are still covered with seal and cormorants. There is nothing to mar the beauty of the Drive.” – Samuel F.B. Morse, distant cousin to the Samuel F.B. Morse, famed painter and inventor of Morse Code and the single-wire telegraph.
Pebble Beach is an unincorporated area of Monterey County governed by the laws of the county and administered by the Pebble Beach Community Services District
Public schools include links to ratings on Greatschools.org; private schools include links to their website.
With only 100 homes selling across the price ranges from under $1M to $20-$30M, the graph above depicting average sales price over time really does not provide meaningful trend data. Each of the five Real Estate neighborhood areas within Pebble Beach suffer a similar challenge, thereby imploring Realtors to use their best skills to determine list prices and offer prices.
The red line tracks the average sales to list price ratio for the same homes. Here we see that on average, homes in Pebble Beach sold for 90-95% of list over the year, down from 92-96% of list for a similar period a year ago, suggesting either demand is softer or prices are more optimistic.
The histogram above breaks down home sales in the Pebble Beach area down by price range. Here we see the Pebble Beach market is about evenly split between homes in the $2,000,000 to $5,000,000 range and those below $2,000,000.
The second rule of real estate after Location: Timing. Buyers and Sellers need to understand the time trends in the market.
Sellers need to be aware of how long it might take to sell their home. Many variables affect this time, not the least of which is list price.
For the buyers, it is important to understand how fast you have to move – not just in responding to a home you like, but in how frequently you need to check the market and how quickly you need to make arrangements to view the home.
Here we see that Pebble Beach homes tend to stay on the market 6-16 weeks except in the highest band, generally waterfront properties, and the $1,100,000 to $1,200,000 band of inland condos.
Understanding Price is imperative both form the Seller’s and Buyer’s perspectives.
For the seller, pricing too high can be disastrous. Buyers will focus their attention on lower-priced listings first. So can pricing so low that buyers wonder what is wrong with the property.
Here we see that Pebble Beach homes generally sell about 1 to 8% under list, with a few exceptions above and below, indicating buyers expect to drive the price down in most transactions.
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