Ocean Pines Condos – Market Update for the year 2015
Six sales of Ocean Pines condos in 2015.
11 Ocean Pines was the lowest price sale was for $590,000 This closed in 03/2015 a good 4 to 6 months prior to the other sales. It was a 3 bedroom 2 bath condo, approx. 1389 sq ft. This was a cash sale, which worked out to just under $425 per sq ft. This one sold as soon as it hit the market!
The next 3 sales were fairly tightly clustered in price from $625,000 to $662,000.
Unit 1 – sold for $625,000 which was higher than the list price of $595,000. This 2 bedroom, 2 bath condo was 1406 sq ft. It had ocean views from almost all rooms! It was on the top floor of the building and had 3 balconies and a remodeled kitchen. This sold for all cash within 4 days of hitting the market. A great deal for the views, price and location!
Unit 26 was the smallest of the condos at 1292 sq ft. with 2 bedrooms and 2 baths. It sold for $630,000 in July 2015. It also had not just one but two of the rare garages! Price per sq ft – $487. This was a “turn key” end unit – updated and with views from ocean views from every room!
Unit 33 sold for $662,000 and was a 2 bedroom, 2 bath condo 1375 sq ft. It took a lengthy 206 days to sell. This surprises me as it was a top floor end unit with views. Also included a garge and 2 carports. It had some upgrades. It started at $749,000 but sold for all cash – $662,000 on Sept 2015.
The 2 highest selling units were both considerably larger, both remodeled .
Unit 37 was 1850 sq ft. and was 3 bedrooms with 3 baths – a rare find! This was a ground floor condo beautifully remodeled. Also with a garage and a carport. It did take 49 days to sale. But sold for all cash and was occupied by tenants part of the time which slows things down. Sold for $750,000
Unit 54 was the last and highest sale at $775,000. It was a 2 bedroom 2.5 bath condo approx. 1672 sq ft. It was on the third, top floor with Ocean Views. The unit was also elegantly remodeled. It had plantation shutters, Venetian plaster walls, bamboo floors and much more. Also included both a garage and a carport. It sold September 2015 in 19 days and was a cash sale. It was on the market 180 days but the list price started at $879,000.
The Ocean Pines Condos are on 17 Mile Drive in Pebble Beach. They are only about 5 minutes from Highway 1 so it’s quick to get to the rest of the Monterey Peninsula. There are 90 units so 6 sales in a one year period – is a pretty low turnover. They are in a beautiful forest setting. Unfortunately there are none on the market as of early May 2016. But if you want to be notified of any new listings for Ocean Pines or any other condo or house in the Monterey Peninsula area, please give me a call or email. Eileen at (831) 277-9939