Seven years ago this June, Gary Woodland held off Brooks Koepka to win the 2019 US Open at Pebble Beach Golf Links. It was Woodland's first major championship, and the sixth US Open hosted on the property. Cameras, corporate boxes, and 40,000+ daily spectators filled the peninsula. Home values in the surrounding neighborhoods enjoyed a durable bump that pulled real estate demand well into 2020 and 2021.

Now the seven-year window is closing. The 2027 US Open returns to Pebble Beach June 17-20, 2027. Seven years of real estate movement have happened in between, including a pandemic peak, an interest rate reset, and a normalization back toward long-term trend. This is the honest look at where Pebble Beach home values have gone, where they sit now, and what owners considering a sale should think about with a major championship on the horizon.

The 2019 US Open: What Happened

Gary Woodland's win

Woodland shot 13-under 271 over four rounds, holding off two-time defending champion Brooks Koepka by three strokes. The signature moment came at the par-3 17th on Sunday, when Woodland's tee shot found the top level of the hourglass green with the pin front-left. Rather than putt down the sharp slope, Woodland chipped the ball off the green fringe to within four feet and made the par save. It was the shot that sealed the championship.

What Pebble Beach real estate looked like in June 2019

• Median home value: approximately $2.3M (NeighborhoodScout data range)
• Interest rate environment: 30-year fixed averaging ~3.75%
• Active inventory: Moderate, typical for June
• Days on market: Well-priced properties trading in 60 to 90 days
• Sale-to-list ratio: Approximately 95 to 97%

The 2019 US Open provided the standard "major championship halo" effect: elevated global visibility, out-of-area buyer inquiries, corporate rental demand, and general reinforcement of Pebble Beach's brand as one of the world's premier real estate addresses.

The Seven Years Since: A Volatile Story

Nobody could have predicted what came next.

2020-2021: The pandemic surge

COVID-19 reshaped Pebble Beach real estate faster than any single event since the community's founding. Bay Area professionals looking for space and coastal proximity flooded the market. Out-of-area second-home buyers accelerated purchases. Interest rates dropped to record lows (30-year fixed under 3%). Inventory tightened. Days on market compressed. Bidding wars became common in the $3M to $8M range.

By late 2021, Pebble Beach median values had climbed meaningfully above 2019 levels. Well-appointed properties routinely traded at or above ask. The property tax reassessments alone from 2020-2022 sales created a permanent step-change in county tax revenue.

2022-2023: The interest rate reset

The Federal Reserve began aggressive rate hikes in March 2022. 30-year fixed mortgage rates climbed from under 3% to over 7% within 12 months. The Pebble Beach cash-buyer market absorbed the change relatively well (cash-heavy buyers are less sensitive to rates), but the leveraged segment slowed noticeably. Days on market extended. Some 2021-era prices proved unsustainable.

2024: The peak

Pebble Beach hit a nominal price peak in early 2024, with median sales prices reaching approximately $3.65M and average sales prices around $4.37M. This reflected both continued demand and the trailing sale of properties purchased at 2021-2022 highs. Days on market stayed low. List-to-sale ratios approached 100%.

2025-2026: The normalization

Values have softened from the 2024 peak. As of April 2026, the picture per MLSListings:

• Median sale price: $2,220,000 (down 20.4% year-over-year from peak)
• Average sale price: $2,940,000
• Active listings: 37
• Median days on market: 173 days
• Median price per square foot: $1,229
• Sale-to-list ratio: 101%
• Months of inventory: 8

Other data sources show different medians (Movoto: $3,848,000; Realtytrac: $2,661,990) reflecting methodology differences and small-sample volatility. What is consistent: Pebble Beach values have normalized from the 2024 peak but remain above 2019 levels in most measurement approaches.

The Seven-Year Appreciation Question

Answering "how have Pebble Beach values performed since 2019" depends on what you measure.

• Nominal median (MLSListings April 2026 vs. 2019 estimate): Approximately flat to modestly negative
• Nominal median (Realtytrac 2026 estimate vs. 2019 estimate): Approximately +15%
• Nominal median (Movoto 2026 vs. 2019 estimate): Approximately +67%
• Peak-to-2019 comparison (2024 peak vs. 2019): Approximately +55 to +60%
• Peak-to-current comparison (2024 peak vs. 2026): Approximately -25 to -40% off peak

The honest reading: Pebble Beach values ran up meaningfully during 2020-2024, hit peak in early 2024, and have normalized since. Where the market sits today relative to 2019 depends on which data source and which methodology you trust.

What is clear is that Pebble Beach did not experience a durable one-way appreciation between 2019 and 2026. It experienced a volatile up-and-down cycle. Owners who sold in 2024 captured the peak. Owners considering a sale now face different math.

Why Values Held Better Than Some Peninsula Markets

Pebble Beach values normalized from peak, but did not collapse. The reasons:

1. Global brand demand

Pebble Beach is one of the few U.S. addresses with genuine international buyer recognition. Buyers from Asia, Europe, and the Middle East continue to view Pebble Beach as a global trophy market. That international demand provides a floor that purely regional markets do not have.

2. Cash buyer heavy

A meaningful percentage of Pebble Beach transactions close all-cash. Cash buyers are largely insulated from mortgage rate movements. When leveraged buyer activity dropped in 2022-2023, the cash segment continued transacting, absorbing much of what would otherwise have been price weakness.

3. Physical constraint

Pebble Beach cannot expand. The town sits on finite land within Del Monte Forest, with additional supply constrained by geography, conservation easements, and architectural controls. Long-run supply constraints support long-run pricing.

4. Amenity durability

Pebble Beach Golf Links, Spyglass Hill, Cypress Point, and adjacent facilities are not replaceable. The Lodge, The Inn at Spanish Bay, The Beach & Tennis Club, and the community's private club infrastructure represent decades of investment that anchors long-term buyer demand.

The 2027 US Open: What Owners Should Model

The 2027 US Open will be the 7th US Open hosted at Pebble Beach Golf Links, held June 17-20, 2027. It will bring:

• Global televised coverage across four days of competition
• Corporate hospitality operations at scale
• 40,000+ daily spectators during tournament week
• Substantial short-term rental demand (May 30 to June 22 tournament window)
• Media attention on Pebble Beach lifestyle and real estate
• Corporate rental demand from sponsors, hospitality operators, and USGA officials

For owners considering the 2027 US Open as a market timing input:

Short-term rental opportunity

Tournament-week rental rates for well-appointed Pebble Beach homes routinely reach $40,000 to $200,000+ for the two-week window (May 30 to June 22 in a typical major tournament schedule). Owners who plan for this well in advance can capture meaningful income while maintaining ownership.

Sale timing options

• List before tournament (Q1 2027): Captures buyer attention leading into the tournament. Escrow can close pre- or post-tournament depending on buyer needs.
• List after tournament (Q3/Q4 2027): Captures the tournament halo effect and any lingering buyer inquiries from the event. Works well for properties that benefit from tournament visibility.
• List well after tournament (2028): Depends on how the tournament shifts overall Pebble Beach visibility and demand.

For owners who want to sell now (fall 2026), the 2027 US Open should NOT be relied upon as a reason to wait. Two considerations:

1. The tournament effect is not guaranteed. The 2019 US Open provided a durable bump, but that bump was partly absorbed by the pandemic distortion that followed. Different market conditions in 2027 could produce different results.
2. Individual property timing matters more than tournament timing. A well-prepped, well-priced Pebble Beach home sells regardless of tournament timing. A poorly-prepped or overpriced property sits regardless of tournament timing.

For full detail on the 2027 US Open impact on Pebble Beach real estate specifically, see our dedicated 2027 US Open real estate impact analysis.

What Pebble Beach Owners Should Do Now

If you plan to sell in the next 12 to 24 months

1. Start prep now. Pebble Beach properties in the $2M to $10M+ range typically require 3 to 6+ months of prep to reach top-of-market presentation.
2. Order pre-listing inspections early. Older Pebble Beach homes routinely surface roof, foundation, or system issues that take weeks to remediate.
3. Get realistic pricing intelligence. The 2024 peak is not the current market. Working with an agent who tells you the truth about current comps is worth more than one who tells you what you want to hear.
4. Model the 2027 US Open option seriously. Understand both the short-term rental opportunity (May-June 2027) and the potential sale timing implications.

If you plan to hold 5+ years

1. Continue investing in the property. Deferred maintenance in Pebble Beach compounds. Properties that fall behind on updates and systems face steeper eventual sale discounts.
2. Track your assessed value trajectory. Prop 13 protection is one of the most valuable financial benefits of long-term Pebble Beach ownership.
3. Monitor comparable sales in your specific pocket. Pebble Beach sub-markets (17-Mile Drive frontage, Spanish Bay, Poppy Hills adjacent, Forest area, etc.) trade differently.

Frequently Asked Questions

Who won the 2019 US Open at Pebble Beach?

Gary Woodland won the 2019 US Open at Pebble Beach Golf Links, June 13-16, 2019. It was his first major championship, and the 6th US Open hosted at Pebble Beach.

When is the next US Open at Pebble Beach?

June 17-20, 2027. It will be the 7th US Open hosted at Pebble Beach Golf Links.

How have Pebble Beach home values performed since 2019?

Values ran up meaningfully during 2020-2024, hit a nominal peak in early 2024 (approximately $3.65M median), and have normalized since. Current 2026 median values vary by data source: MLSListings shows $2,220,000, Realtytrac shows $2,661,990, Movoto shows $3,848,000. Depending on methodology, cumulative 2019-to-2026 appreciation ranges from flat to +67%.

Is Pebble Beach a good time to sell in fall 2026?

Depends on the specific property. Well-prepped, well-priced Pebble Beach properties continue to trade cleanly in 2026. Poorly-prepped or overpriced properties routinely sit 173+ days per MLSListings data. Individual property positioning matters more than macro market timing.

Should I wait until the 2027 US Open to sell?

Not necessarily. The 2019 US Open provided a durable bump, but market conditions in 2027 could differ. Individual property preparation matters more than tournament timing. Consult with your agent to model both scenarios (list in 2026 vs. list around 2027) based on your specific property and situation.

Can I rent my Pebble Beach home during the 2027 US Open?

Yes. Tournament-week rental rates for well-appointed Pebble Beach homes routinely reach $40,000 to $200,000+ for the two-week tournament window. Advance planning is essential. Book with reputable short-term rental operators and understand HOA/community rules where applicable.

What is the median price of a Pebble Beach home in 2026?

Between $2,220,000 (MLSListings, April 2026) and $3,848,000 (Movoto, April 2026), depending on data source. Home values range from approximately $731,000 for smaller condos to $26,750,000+ for premier estate properties.

Has Pebble Beach hosted the US Open before 2019?

Yes. Pebble Beach Golf Links has hosted the US Open five times prior to 2019 (1972, 1982, 1992, 2000, 2010) and once in 2019 (won by Gary Woodland). The 2027 US Open will be the 7th.

The Bottom Line

Seven years have delivered a volatile ride for Pebble Beach real estate. Pandemic-era demand pushed values well above 2019 levels through 2024. The subsequent interest rate reset and normalization has brought current values back toward more sustainable levels, though the exact 2026 median depends heavily on the data source you consult.

The 2027 US Open provides another meaningful catalyst on the horizon, but it is not the primary determinant of sale success. Individual property prep, accurate pricing, and correct positioning matter more than tournament timing.

For owners considering a sale in the next 12 to 24 months, the right move is to start prep now, get realistic pricing intelligence, and structure your options around your specific property and timeline rather than around a single macro event. Pebble Beach rewards discipline. It always has. It will continue to.

Related Reading

• 2027 US Open at Pebble Beach: What It Means for Real Estate
• Buying with Acreage in Carmel Valley: Well, Septic, Fire Insurance
• What New Construction Actually Costs in Marina in 2026
• Pebble Beach Real Estate & Community Guide

References

1. MLSListings via Aculist, Pebble Beach Market Report April 2026. https://www.mlslistings.com/browse-listings/monterey-county/pebble-beach
2. NeighborhoodScout, Pebble Beach Real Estate Market. https://www.neighborhoodscout.com/ca/pebble-beach/real-estate
3. Realtytrac, Pebble Beach Market Trends. https://www.realtytrac.com/market-trends/pebble-beach-ca/
4. Movoto, Pebble Beach Market Trends. https://www.movoto.com/pebble-beach-ca/market-trends/
5. Sotheby's Realty, Monterey Peninsula Market Update Q1 2026. https://marketupdates.sothebysrealty.com/marketupdate/monterey/monterey_peninsula/pebble_beach
6. USGA, US Open Championship History. https://www.usga.org/championships/us-open.html