The Compass Ultra-Luxury 2022 Report is Out | Pebble Beach and Carmel Featured
Compass just released the Ultra-Luxury 2022 Report. This is a national report focused on sales of $10M+. The 112 page report recaps the past 4 years of sales in the major luxury markets across the country.
The volume of sales at this level is relatively tiny with a very, very small audience. While this is a market that few buy and sell real estate in; it is a barometer for the broader market sentiment of the long-term value of real estate.
The Ultra-Luxury market of Pebble Beach and Carmel is featured and we're fortunate to be cited from our involvement in a few of these transactions with lovely and gracious clients this past year.
Below you'll find some market statistics of this segment in our area. In the report you'll see that most agents across the country are optimistic about the ongoing demand for this segment.
“California coastal real estate continues to be desired and is a great multi-generational asset that is scarce and increasing in value. Our area is just starting to come into its own and the values will remain strong.”
— Dana Bambace
Ultra-Luxury Market in Monterey County
Our area had just 7 of these sales in 2019; 12 in 2020; 19 in 2021; 20 in 2022. Note graph is reported on MLS
13 were in Pebble Beach, 7 were in Carmel.
Over the past 15 years, 70% of these sales are in Pebble Beach.
“70% of the ultra-luxury sales occurred in the first
half of the year, but then the market ran out of
inventory. Homes on the water and Pebble Beach
golf course, especially those that are turn-key and
ready for enjoyment, are still selling rapidly.”
— Mark Peterson
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