Buyer Grabs Pebble Beach Mansion in $18 Million Deal

Monterey County just notched its priciest home sale of the year thus far.

An ocean-view estate at 1522 Riata Road in Pebble Beach sold for $18.1 million, the Silicon Valley Business Journal reported. The property sold last week after being listed in late June.

The home was previously listed at under $12 million in 2022, according to the Business Journal. The property sold for $1 million in 1984, $375,000 in 1977 and $235,000 in 1971.

The three-story manse, built in 1927, sits in a 2.2-acre lot and spans 7,245 square feet with four bedrooms and four full bathrooms. The home also features a four-car garage and views of the Pacific Ocean and Pebble Beach Golf Links.

Other big-ticket transactions in the county this year include a Carmel Highlands estate that sold in June for $14.8 million, a property in Carmel that sold for $15.5 million that same month and another Carmel estate in April that traded hands for $17.5 million.

The median listing home price in Pebble Beach as of June was $3.5 million, representing an 8 percent drop year-over-year, according to the Business Journal. The median sale price was $2.8 million with homes spending about 10 weeks on the market.

Pebble Beach ranks above the exclusive Carmel-by-the-Sea enclave where the median listing price is $3 million. An empty patch of seaside land in Carmel-by-the-Sea grabbed local attention when it hit the market in June for just $100,000, but building on the property is prohibited.

Both Pebble Beach and Carmel-by-the-Sea are part of Del Monte Forest, the most expensive area in Monterey County. Across the county, listings averaged about $1.3 million in June; by contrast, the median listing price in Santa Clara County, the capital of Silicon Valley, was $1.5 million in June. Sales there closed at a median price of $1.7 million.

Elsewhere in Pebble Beach, other high-end properties are on the market including a four-bedroom for $13.3 million, a five-bedroom for $15 million and an eight-bedroom estate for $29 million, per the Business Journal.

— Chris Malone Méndez