Real Estate Report presented by Thérèse & David Kent CRS / Alain Pinel Realtors

April 2019 Report

Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >


Median Price
$565,400
-6.5%
Average Price
$825,712
-14.1%
No. Sold
173
+32.1%
Pending Properties
329
+5.8%
Active
489
-4.5%
Sale/List Price Ratio
98.1%
+0.6%
Days on Market
58
-25.1%
Days of Inventory
85
-19.6%

Market Barometer

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Market Commentary

Prices and Sales Drop

After rising in February from January, prices for single-family, re-sale homes dropped in March. The average price fell 14.1% from February. It was down 16.4% year-over-year.

The median sales price for homes in Monterey County was off 6.5% from February. It was down 8.8% year-over-year. The median sales price is now at its lowest level since January 2018.

Home sales were down 22.1% compared to last year. There were 173 homes sold.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, continues to hover just below the 100% mark. It was 98.1%.

Inventory increased year-over-year for the fifth month in a row. Inventory was up 3.6%.

As of April 5th, there were 489 homes for sale. The average is 1,333.

Days of inventory was at 85. The average is 185.

Days of Inventory reflects an estimate of the amount of time it would take to sell all of the current listings if no new listings became available. It is calculated by taking the number of homes for sale and dividing by the number of homes sold in a given time frame. We use last month’s sold number.

Days on Market dropped from 78 days to 58 days last month. The average for the past fourteen years is 68 days. Days on Market counts the time from when a home comes on the market to when it goes into contract.

The median sales prices for condos was up 1.8%, year-over-year, while the average sales price dropped 0.9%. 

Condo sales were down 8.3%.

The sales price to list price ratio for condos was 97.2%.

It is taking 98 days from when a condo comes on the market to when it goes under contract. The average for the past fourteen years is 66 days.

Days of inventory jumped to 139. The average is 195.

There are 102 condos for sale. The average is 122.

For assistance in this market, do not hesitate to contact me. If you are thinking of selling, I can provide a free comparative market analysis. Also, if you click on Recent Sales & Listings, you will see what has sold, what is for sale and what is pending in your neighborhood.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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