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

October 2017 Report

Single Family Homes in Monterey County, Pebble Beach, All Neighborhoods Change >


Median Price
$2,500,000
-6.3%
Average Price
$2,649,720
+9.5%
No. Sold
9
-30.8%
Pending Properties
17
+6.3%
Active
76
-7.3%
Sale/List Price Ratio
90.0%
-2.6%
Days on Market
87
-48.1%
Days of Inventory
245
+29.4%

Market Barometer

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Market Commentary

Home Prices Fall

The median price for single-family, re-sale homes fell, month-over-month, for the third month in a row.

Nevertheless, the median price for homes gained 1.0% over last September.

The average price for homes was up 2.9%.

The median price for condos jumped 15.9% year-over-year.

The average price for condos was up 47.0% over last September.

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 both homes and condominiums was 98.0%.

Property is selling quickly. It is taking only fifty-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 sixty-three days from listing to contract in August. 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 ninety days of home inventory. The average is one-hundred and ninety-three.

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

As of September 5th, there were 642 homes for sale. The average is 1,333.

There were fifty-five condos for sale. The average is one hundred and twenty-two.

To read "Preparing to Sell Your Home? The 5 Best Projects to do Now", click on the Newsletter link to the left.

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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