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

November 2018 Report

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


Median Price
$1,975,000
-63.6%
Average Price
$2,525,860
-70.2%
No. Sold
8
+33.3%
Pending Properties
16
+14.3%
Active
65
-11.0%
Sale/List Price Ratio
95.1%
-0.6%
Days on Market
141
+126.2%
Days of Inventory
244
-30.9%

Market Barometer

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Market Commentary

Home Prices Slip in October

After setting a new record high in September, the average price for single-family, re-sale homes slumped 19.7% in October. It was up 1.2% year-over-year.

The median sales price for single-family, re-sale homes in Monterey County dipped 3.2% from September. It was up 6.1% year-over-year.

Home sales were down 9.5% compared to last year. There were 190 homes sold.

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. It was 98.4%.

Inventory continues to be problematic. It is less than half the average. Compared to last year, inventory was off 5.2%.

Days of inventory was up to 95. The average is 185.

As of November 5th, there were 599 homes for sale. The average is 1,333.

Homes are selling slightly faster than normal. It is taking only 54 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.

The median price for condos was down 25% year-over-year. The average price was up 1.5%.

Condo sales were up 63%.

The sales price to list price ratio for condos rose to 98.5%.

It is taking 49 days from when a condo comes on the market to when it goes under contract. The average for the past fourteen years is 66 days.

Days of inventory is down to 57. The average is 195.

There are 83 condos for sale. The average is 122.

If you would like more specific information, do not hesitate to contact me.

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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