Here are the latest statistics for Monterey County. Just like our micro-climates, our area has many different communities and prices and market trends can vary significantly. Keep in mind, these figures represent the WHOLE county. The average price of a home in Pebble Beach and Carmel is over $2 million whereas an average home in Seaside is $660,000. In the rural areas of Salinas and South County prices can be in the low $300,000's. As you can see, we have a huge range but these overall statistics can provide an idea of general market trends.
Monterey County Single Family Home Market:
In Monterey County, the median Single Family home cost $635,000 and sold in 26 days for 98% of the list price based on 230 sales in August 2019.
• Inventory was down -3% from July, and down -5% from August 2018 with 853 homes available, compared to 899 homes last year. (This is interesting....In the area I monitor, inventory is up over last year. My thought is that in places like Salinas, Marina and Seaside, homes are selling quickly so supply is lower and influence overall numbers.)
• Average days on market (DOM) lost -7 days from 63 to 56 or -11%; median DOM increased 1 day from the month before.
• Number of new listings for the month of August decreased -4% over July and down -24% from August of last year. • Closed sales were up 1% from July from 227 to 230 but down -6% from August 2018.
Monterey County Townhouse/Condo Overview:
In Monterey County, the median Residential Common Interest home cost $512,500 and sold in 70 days for 98% of the list price based on 40 sales in August 2019.
• Inventory dropped -11% from July, and up 21% from August 2018 with 142 homes available, compared to 117 homes last year.
• Average days on market (DOM) gained 8 days from 78 to 86 or 10%; median DOM rose 12 days from the month before.
• Number of new listings for the month of August decreased -5% over July and dropped -25% from August of last year.
• Closed sales rose 43% from July from 28 to 40 and increased 8% from August 2018.
Source: MLS Listings Inc