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

July 2018 Report

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


Median Price
$1,862,500
+2.9%
Average Price
$1,919,230
-9.3%
No. Sold
22
-37.1%
Pending Properties
37
-2.6%
Active
119
+4.4%
Sale/List Price Ratio
95.7%
-0.7%
Days on Market
40
-36.4%
Days of Inventory
157
+60.5%

Market Barometer

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Market Commentary

Home Sales Slide

After five months of home sales being up year-over-year, sales dropped 17.8% in June. There were 231 homes sold, which is the lowest number of homes sold in June since 2014.

The median sales price for single-family, re-sale homes in Monterey County rose 4%, year-over-year, to $649,000. 

The average price for homes was up 3.5% to $875,994.

The median price for condos jumped 16.2% year-over-year to $584,000. The average price fell 5.1% to $595,454.

Condo sales were down 5.9%.

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.

The ratio for homes was 98.2%. For condos, it was 98.4%.

Property is selling slightly faster than normal. It is taking only forty-four days from when a home comes on the market to when it goes under contract. The average for the past fourteen years is sixty-eight days.

For condominiums, it took fifty-three days from listing to contract in June. The average is sixty-six days.

Inventory, or the lack thereof, continues to be the biggest factor in the Monterey market, as it is throughout the Bay Area.

There are only sixty-nine days of home inventory. The average is one-hundred and ninety-three.

For condominiums, there are fifty-six days compared to an average of one-hundred and ninety-four.

As of July 5th, there were 548 homes for sale. The average is 1,333.

There are 32 condos for sale. The average is 122.

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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