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A Quick Update on the Monterey Peninsula Housing Market

Here's a quick summary of our local market:

  • Inventory is at an all time low. We are tracking about 61% behind August 2019 listings in the area I monitor

  • Prices are at an all time high and things keep on moving upward

  • Buyers are facing stiff competition when making offers

  • Multiple offers continue to there appears to be a cool down on offerings. A very desirable property may get 3-4 offers. A few months ago, you might have seen 6-8 offers

Monterey County as a whole:

  • There are only 334 houses for sale in Monterey County

  • Days on Market remains low: June - 28 days, July- 21 days

  • Average Price: $3,401,244

  • Average Price per Foot: $1036

August marks the peak of inventory for the year. Listings slow down as we head towards the holidays so we'll see what happens in the next couple of months. It's an interesting time!


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