Monterey Condos Sales 1st Qtr 2017

I am going to do more of a summary than a detail of all 20 sales that took place in Monterey and Del Rey Oaks for the first quarter of 2017. You can read the January Market Update for details on those 5 sales.

Key Takeway: I am going to break the sales into 3 categories:

Tier One: 400k and under Moderate Price- 8 sales

Tier Two: 401k+ to $650k Mid range, 9 sales

Tier Three: 650+k and above. 3 sales

Tier One Sales – Affordable Condos: 8 sales in the first quarter of the year at 4 different complexes. One at Cypress Park at 820 Casanova for $260,000 a 1 bedroom of course sold for $260,000 (See Jan. report for more details).

Vista Del Mar Condos in the 100 block of Mar Vista. 3 sales these ranged from $325,000 to $390,000 studios or 1 bedrooms. Sq footage is from 469 to 505 sq ft. These are small but cute. They were completely redone a number of years ago when they were converted and sold as condos. These seem to have been mostly bought as second homes when they were originally sold. I was curious if that was still the case – so I checked. And sure enough 2 out of the 3 sales here on non owner occupant.

Ocean Forest – 500 Glenwood Cir. – 2 sales here. Lowest was #239A a 509 sq ft studio. Funny but did not realize they had any smaller than a 1 bedroom. This went for $250,000 (See Jan. Update) The other was #414 that sold for $360,000 and was a 2 bedroom, 2 bath, approx. 796 sq ft. This complex is probably one of the few where you can still get a 2 bedroom for 400k and under! This sold in 3 days so you have to move fast!

Footprints on the Bay – at 300 Glenwood Cir., had 2 condo sales here #278 and #198 both 1 bedrooms. The smaller unit 676 sq ft. sold for $340,000 and the larger one bedroom, 760 sq ft. sold for $485,000. You are highly unlikely to get a 2 bedroom here now in the 400k and under range. Popular complex!

Tier 2 Mid Range Sales: 9 Sales

Key Takeaway: You usually have to go into the mid range priced condos if you want 2 bedrooms.

Tanglewood Condos at 250 Forest Ridge Rd. had 2 sales. Both were 2 bedroom, 2 bath condos from 1050 to just under 1200 sq ft. #28 sold for $415,000 and the slightly larger with forest and ocean views sold for $500,000. These are in Skyline Forest area!

Hacienda del Sol at 70 Forest Ridge also in the Skyline Forest area had one sale at $588,000 This one deserves more detail so here goes:
#26 2 bedroom, 2.5 bath, approx. 1377 sq ft. Closed 03/27/2017 after only 11 days on the market – all cash sale!! List price of $559,000 but sold for $588,000. Someone really wanted this lovely ocean view condo. Was on 2 levels (hey some are on 3 levels!!) Fireplace, view of the Monterey Bay, formal dining room, balcony. And a double car garage.

The Oaks at Del Rey Oaks – two sales both 2 bedroom, 2 bath approx. 1050 sq ft.
630 Pheasant Ridge – sold for $432,000 listed at $447,000
810 Pheasant Ridge – sold for $449,500 listed at $459,500 upgraded kitchen and bath.

Ocean Harbor House Condos located at 1 Surf and 125 Surf Way. 2 sales 125 Surf #215 1 bedroom, 1 bath, 513 sq ft. Nice views and wonderful location. #344 also a 1 bedroom same size sold for $530,00. Upgrades and end unit towards street so especially nice views!

Montsalas Condos – on Montsalas Dr. 1 sale – a rare 3 bedroom, 2.5 bath, approx. 1388 sq ft. Updated kitchen and appliances. upgraded deck. Sold for $525,000 with a list price of $535,000.

Vista Del Mar Condos in the 100 block of Mar Vista – 1 sale – 2 bedroom, 1.5 bath approx. 954 sq ft. Sold for $540,000 with a list of $555,000. Really nice upgrades and huge deck, huge view.

Tier 3 Condo Sales: 3 sales

Key Takeaway: Higher end condo sales in Monterey are often at the beach or have ocean views and they can be small!

Presidio Hills at 400 Drake Ave.
#9 2 bedroom, 1.5 bath, approx. 1200 sq ft. Stunning high end penthouse (that means it’s on the top up high! ) with incredible views of Monterey Bay. Has loft, steam shower, much more and completely furnished. But mainly – views, views, views! And close walk to Cannery Row area.

Ocean Harbor House 125 Surf way – 2 sales. Unit #417 a 2 bed, 2 bath, approx. 1214 sq ft. condo sold for $805,000 and of course it had incredible views! Unit #430 also a 2 bedroom, same size condo sold or $900,000. Lots of high end upgrades.