Carmel Condo Market Update
Carmel, CA Condos – What has sold in the last 90 days?
We have had 7 Carmel Condo sales in the last 90 days and 4 of them were bank foreclosure condos – all at the same complex. All 4 of the bank REO condos were snapped up by one smart lucky buyer – total price for all 4 was $1,425,000 – an all cash sale. Sizes ranged from 515 up to 860 sq. ft. The condo complex – brand new was the Seaview Place Condos at Torres, 3 NW of Fifth Ave. Prices paid were $300,000, $325,000, and the bigger two $400,000 each. A down town, Carmel-by-the-Sea condo – 2 bedroom, 2 bath, 860 sq ft. for only $400,000. Wow! Of course buying all 4 helped as well as paying cash.
Another incredible bargain is one of the Riverwood Condos – a sale that closed late June 2012 for only $355,000. This was a 2 bedroom, 2 bath condo approx. 1008 sq. ft. This had an updated kitchen and bath with tile floors. This was a short sale and the price blows me away. The bank just gave it away. Carmel School system, right next door to the Crossroads shopping Center, and close to the Barnyard. You can pay this much for a condo in Seaside or Monterey!!
I no longer run away from short sales – more like run towards them! You don’t have to wait as long and a much higher number of them go thru now. Watch for my post later this week just on buying a short sale condo!
The 6th sale was a well price High Meadows Terrace Condo #19 that sold for $400,000 It was a 2 bedroom, 2 bath 1197 sq ft unit. This was a regular sale.
The last and 7th sale was a regular sale at $540,000 for a spacious 1 bedroom, 1 bath condo, approx. 925 sq. ft. This Mission and 3rd, downtown Carmel condo was one of the Pine Terrace Condos and also a great bargain in my opinion. It was completely remodeled and was a penthouse unit with beautiful Ocean Views, and views of Point Lobos and Stillwater Cove. That new owner is not likely to turn loose of their beautiful new condo anytime soon.
When I first moved to the Monterey Peninsula over 20 yrs ago, I stayed with friends who lived in downtown Carmel-by-the-Sea. I still have very fond memories of that time. We would stroll down to the beach at sunset, glass of wine in hand and watch the sunset. Sunday mornings, we walked (don’t need to bother with a car and parking) downtown to one of the wonderful bakeries and had tea and a pastry. We would stroll thru the downtown area in the evenings and window shop. We walked so much an occasional pastry did no harm!
If you are looking for a downtown condo or a condo in any of the other wonderful areas of Carmel, CA – then give me a call. There are probably a few good deals that will come up in the next year! Call Eileen at (831)277-9939
