Oceanfront New-Build Asking Nearly $30 Million Is the Most Expensive Listing in Pebble Beach, CA

The residence, which is being offered furnished, has views of the water from almost every room

V.L. Hendrickson | Mansion Global

The most expensive active listing in Pebble Beach, California—an affluent enclave near Monterey—is now a newly built, 7,650-square-foot residence asking $29.75 million.

One of just 29 true oceanfront properties in Pebble Beach, the 1.5-acre property faces due west and has views of the sunset over the Pacific Ocean, according to Jessica Canning of The Canning Properties Group of Sotheby’s International Realty’s Carmel Rancho Brokerage. The group listed the home last week.

“We were there [Tuesday] and the whales were going by and we could see it from the deck,” she said. “So you get spectacular sunsets over the water,and it’s a new construction. There’s not that many of them…some of these the other properties are much older, built in the 1920s.”

The six-bedroom, eight-bathroom residence takes cues from the area’s classic houses, but adds a modern touch.

“Our clients have done an amazing job blending more traditional and textural design into this contemporary architecture,” Ms. Canning said. “It feels very sophisticated, but, at the same time, incredibly warm and inviting.”

The design incorporates walls of glass with natural materials such as wood and brick. It features a two-story great room, an art gallery, two offices and a wine cellar. Plus, there’s a chef’s kitchen with adjacent dining and family areas and sliding doors leading to a balcony, listing photos show.

Each bedroom has a bathroom and views of the water, as well as outdoor space.

The home is being sold furnished, “so someone can just move in and enjoy it right away,” Ms. Canning said. “I anticipated selling pretty quickly.”

Inventory in Pebble Beach is just 10% to 15% of what it normally is, which means homes are selling faster than ever. That’s causing prices to rise, and Ms. Canning expected that to continue throughout the year. The community is on the Monterey Peninsula, about 120 mile south of San Francisco.

“Demand definitely outstrips supply right now…I do think we’ll have a steady flow of [listings], they just won’t stay on the market that long,” she said. The market “will probably contract compared to last year when we just had an incredible year, but I think that we will continue to see steady deal flow.”

The property is currently owned by a Maryland-based real estate investment trust, according to records with PropertyShark.