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

September 2018 Report

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


Median Price
$1,955,000
+4.3%
Average Price
$2,058,000
-51.0%
No. Sold
10
-33.3%
Pending Properties
15
-21.1%
Active
71
+18.3%
Sale/List Price Ratio
98.6%
+5.2%
Days on Market
58
-19.6%
Days of Inventory
213
+77.5%

Market Barometer

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Market Commentary

HARP® Ending This Year

HARP® will end December 31, 2018.

Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance. HARP targets borrowers with loan-to-value (LTV) ratios equal to or greater than 80 percent and who have limited delinquencies over the 12 months prior to refinancing.

To see if you are eligible, go here:
https://www.harp.gov/

MARKET STATISTICS

Prices for single-family, re-sale homes retreated in August from July. 

The median sales price for single-family, re-sale homes in Monterey County fell 13.9% from July, but was up 1.3% year-over-year.

After setting a record high in July, the average price for homes slumped 25.4%. Year-over-year, it was down 1.1%.

Home sales were down 23.7% in August compared to last year. There were 187 homes sold.

The median price for condos rose 8.1% year-over-year. The average price was up 7.9%.

Condo sales were dwon 15.6%.

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 98.5%. For condos, it was also 98.3%.

Property is selling slightly faster than normal. It is taking only 42 days from when a home comes on the market to when it goes under contract. The average for the past fourteen years is 68 days.

For condominiums, it took 46 days from listing to contract. The average is 66.

As of September 5th, there were 628 homes for sale. The average is 1,333.

There are 86 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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