A Quick Update for the Monterey County Housing Market - July 10, 2025

Here is a quick summary of the Monterey County Real Estate Market for June/July 2025:

• Inventory is steadily increasing as we move through the summer. Months of inventory are down slightly over last year. In June 2024, months of inventory was 5.7 in June 2025 it is now 5.3.

• Median Sales prices fell in June year over year. June 2025 - $946,688. June 2024 - $885,000.

• Sales volume has increased year over year but fell from the prior month. Snapshot of June 2025-$288,496,599 compared to June 2024 - $249,888,827.

• Price reductions continue with some frequency. June sales price to original list price was 94.9%.

• Average Days on Market for June sales was 65 days, up from a year ago when it was 34 days.

Break Down of Data for Monterey County:

Listings:

• Currently, there are 606 residential homes/condos/townhomes listed for sale

• There are 27 properties listed under $500,000 (4.4% of total listings)

• There are 201 properties listed between $500,000-$1,000,000 (33.2% of total listings)

• There are 62properties listed over $5,000,000 (10.2% of total listings)

July Sales MTD:

• There have been 38 sales

• Median Price per Foot was $816

• Average Days to Sell was 44

• Average Sales price to list original list price was 98.0%

The last Federal Reserve policy update was on June 18, 2025. The Fed decided to hold the federal funds rate steady at 4.25% to 4.50%. The next FOMC meeting is scheduled for July 29,2025.

If you are a buyer:

1. Consult your agent and your loan officer and create a plan!

2. Make sure to get pre-qualified.

3. Don't make big purchases that might affect your bank balances or credit score.

4. Be prepared to act quickly if you find a house you like.

5. Make a list of "must haves" and "like to haves" and be prepared to compromise

Data Source: MLS Listings Inc