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

August 2018 Report

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


Median Price
$2,000,000
+7.4%
Average Price
$2,158,500
+12.5%
No. Sold
23
+4.5%
Pending Properties
36
-2.7%
Active
109
-8.4%
Sale/List Price Ratio
96.0%
+0.3%
Days on Market
43
+7.9%
Days of Inventory
142
-9.4%

Market Barometer

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Market Commentary

Average Sales Price for Homes Sets New Record

TIP: Click on table above to get year-over-year statistics.

The average sales price for single-family, re-sale homes reached $1,132,930 in July. That broke the previous record which was reached on September 2007. That’s a jump of 40.7% over last July.

The median sales price for single-family, re-sale homes in Monterey County rose 10.5%, year-over-year, to $685,250. 

Home sales were up 0.5% in July compared to last year. There were 206 homes sold.

The median price for condos rose 7.9% year-over-year to $482,450. The average price jumped 38.6% to $671,086.

Condo sales were up 21.7%.

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 98.4%. For condos, it was also 98.4%.

Property is selling slightly faster than normal. It is taking only forty-nine 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 forty-four 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 eighty-two days of home inventory. The average is one-hundred and ninety-three.

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

As of August 5th, there were 563 homes for sale. The average is 1,333.

There are 69 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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