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

January 2018 Report

Single Family Homes in Monterey County, Pacific Grove, All Neighborhoods Change >


Median Price
$865,500
-24.6%
Average Price
$964,717
-12.0%
No. Sold
12
+50.0%
Pending Properties
14
+7.7%
Active
18
-37.9%
Sale/List Price Ratio
96.7%
-0.7%
Days on Market
39
-40.4%
Days of Inventory
45
-57.2%

Market Barometer

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Market Commentary

Prices Up, Sales Down to End the Year

The median price of single-family, re-sale homes in Monterey County gained 23.3%, year-over-year, to $614,500 in December. 

The average price for homes was $902,530, a gain of 5.3% compared to last December.

The median price for condos jumped 19.9% year-over-year. The average price gained 20.7% over last December.

Home sales were off 1.9% year-over-year. Condo sales were off 14.8%.

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% and for condominiums was 97.0%.

Property is selling quickly. It is taking only sixty-one 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 seventy-five-nine days from listing to contract in December. 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-eight 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 December 5th, there were four hundred and sixty-eight homes for sale. The average is 1,333.

There were forty-three condos for sale. The average is one hundred and twenty-two.

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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