I am going to refrain from speculation and give a few facts so you can draw your own conclusion.

The first comp you listed on 12166 Carmel Park which is currently at 825 was listed last year at an opening price of 960k. The owners have chased the market down and are now at a price that IMO will still not be reached. They were in a price range of 825-875 when they gave up on the listing during the previous listing period.

The second comp you listed on San Maritine which is at 749k has been on the market for 60 days. Of course they to were listed last fall but only for 40 days and they were at 775-795.

Speculating about this region is kind of worthless, especially given the fact that there is only one property even pending right now that is over 2000 sf. The region I defined was a simple polygon around the Carmel del Mar Park.