Introduction

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Mike Canning & Lynn Knoop have joined forces with the goal of continuing to offer the highest level of professionalism and service to a limited number of buyers and sellers of exceptional Carmel and Pebble Beach properties. With a combined 40 years of experience working the top of these markets, Mike & Lynn know the market - both the openly listed and discreetly available inventory.

A perennial leader in sales on the Monterey Peninsula for decades, Mike was just recognized as Sothebys International Realty's #1 agent for the 11th consecutive year; re-joining old friends and colleagues at Carmel Realty, he's excited to be back with the premier locally owned brokerage firm.

Lynn Knoop, a native of San Francisco and the Monterey Peninsula, has been one of the top selling agents in Carmel and Pebble Beach for the past 15 years. Known for her gracious style and unwavering client commitment, Lynn shares Mike's view that it's better to limit quantity to assure quality - the vision and goal is to be the best.

Current Market Comments

May 11, 2012

Our Pebble Beach and Carmel markets slowed a bit this week. Two closed sales in each market with no new sales in Pebble and one new sale in Carmel.

Both Pebble Beach closed sales were under $1.5M, extending the hot streak at the lower level of the market. One of Carmel's closed sales was a major fixer below Santa Lucia at $825,000, the other a $2.35M home on 14th on Carmel Point; the Point continues to find favor in the marketplace, with many people preferring its quieter setting while still offering easy access to two beaches. The new sale in Carmel is a $3.85M classic cottage charmer on the corner of Ocean Ave and San Antonio – busy corner but walkable to everything.

My sense is there may be some lull in the marketplace until the Memorial Day weekend when we'll begin to see an acceleration in demand. Stay tuned.

For the car buffs, the American LeMans series is at Laguna Seca this weekend and the Ferrari Racing Day is on the 18th.

Happy Mothers Day this Sunday to all the mothers out there – hope you're duly spoiled and enjoy the day.

Mike & Lynn

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May 6, 2012

In a word, I'd describe our Carmel and Pebble Beach markets as, 'steady'. Pebble Beach continues to slightly outpace the prime parts of Carmel this year, primarily driven by robust demand at the bottom but, both markets are healthy, with inventories tightening.

Carmel saw a very strong 5 closed sales last week, two sales down on lower 14th south of Santa Lucia, and three in the Golden Rectangle – our perennial sweet spot; three of these sales were under $1.2, also a very strong sector in Carmel. While there were no new sales in this part of Carmel last week, there were only two new listings so inventory contracted a bit – worth keeping an eye on this as prices will firm and begin to rise if that pattern continues.

Pebble had 3 closed sales, two below $1M where so much of the demand has been this year, and one along Riata not far from The Lodge at $5.1, one of the larger sales so far this year. We did see 6 new listings in Pebble last week ranging from $4.6M to a $675,000 condo at Ocean Pines.

If you're lucky enough to be in town this weekend you know how gorgeous it's been. Post card perfect everywhere and great for enjoying the Carmel Valley Garden Show Sunday. Couple of fun shows coming up at The Sunset Center: Lindsey Buckingham on May 10 and Shirley MacLaine on May 11. For the car buffs the American Le Mans series is coming up at Laguna Seca on May 11. Don't forget Mothers Day next weekend – brunch at Pacific's Edge at the Highlands Inn might be in order.

Mike & Lynn

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April 28, 2012

The story in our Pebble Beach and Carmel market continues to be robust activity at the lower levels with steady but not stellar action above.

Pebble Beach had 4 closed sales last week and one new sale. Of the 4 closed sales, 3 were under $1.2M while one closed at $5.155, a well located home along Riata not too far from the Lodge with some water views. We have two more pending sales north of $5 in Pebble – an encouraging sign of demand rising up the price spectrum.

In Carmel's prime walk-to-beach/town location, there was one new great closed sale on a fixer in the Golden Rectangle at $1.175 and one new sale along Carmelo on Carmel Point at an ask of $2.498; while activity has slowed somewhat in Carmel the sales flow remains steady for good product attractively priced. Well located Carmel properties remain our most liquid real estate.

Big Sur Marathon in town this weekend – expected to be a beautiful day on Sunday for the race. Also 'in town' are the whales: peak whale watching is here, with large numbers of Orcas and humpbacks in Monterey Bay.

Enjoy the weekend.

Mike & Lynn

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April 20, 2012

75+ degrees here in Carmel and Pebble Beach this weekend – going to be gorgeous. For pure grins and giggles, hit Carmel Beach for the 11th Annual Cavalier King Charles beach party – there will be 200 plus Cavaliers, many sporting hats…sure to be a sight.

Our Carmel and Pebble Beach markets continue to show clear signs of a bottoming and early rebound, led by Pebble Beach, and, within Pebble, led by sales at the lower price points. Pebble saw 7 new sales this week – very healthy number. The asking prices ranged from $598,000 to $2.695, with 6 of the new sales under $2M. The incredibly inexpensive long term cost of capital appears to helping with the rebound in these sectors. There were only 3 new listings in Pebble, continuing the healthier tilt of demand vs. supply in Pebble.

The prime part of Carmel saw one sale in the Golden Rectangle, a fixer on Monte Verde south of Ocean with an ask of $1.025; as mentioned previously, this product found steady favor in 2011 and continues to draw interest this year. We'll be bringing on a quality ocean view home on Carmel Point next week, along Bayview Avenue, one of the best Carmel Point locations, offering great views and a stroll to the beach and town.

Next weekend (the 29th) the annual Big Sur Marathon will be held. Good luck to all those running in the event – you definitely have our respect.

-Mike & Lynn

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April 13, 2012

Well, the 2012 market beat goes on: Pebble Beach continues to materially outpace Carmel, turning the 2011 pattern upside down.

Last week Pebble saw 4 new sales ranging from $775,000 to $1.895 all under $2, extending the pattern of demand at the lower levels. Pebble Beach also had 4 closed sales, 3 under $1M and one at an asking price of $1.5M. No new listings last week in Pebble which will continue to tighten the supply/demand ratio in the very hot lower price brackets. Still waiting for the top of the Pebble Beach market to wake up but, with the bulk of the upper-end market listed, we can report a material increase in showing activity north of $10M.

The prime part of Carmel saw only one new sale last week, an ocean view property on Bayview on Carmel Point – the market continues to like the Point, one of our favorite areas as well. Reasonably priced product there is getting traction. Oddly quiet in the Golden Rectangle last week. As commented in the past couple weeks, we think it's too early to call a pattern with the relative shift in demand from Carmel to Pebble this year as there are some apples and oranges going on with Pebble's demand being concentrated at the bottom and the prime parts of Carmel not really having comparable product. That said, there's no denying the strong level of activity in the MPCC part of Pebble and the slowing in Carmel.

Nancy and I went to the Opening Reception of the Pebble Beach Food & Wine event at Spanish Bay last night. Incredible party (1000 attended) with fabulous wines and food (a number of Iron Chefs in attendance). If you haven't made this event and like great food and wine, put it on your calendar for next year. It's great.

-Mike & Lynn