Real Estate Report presented by Therese Kent

September 2017 Report

Single Family Homes in Monterey County, Carmel Valley, All Neighborhoods Change >


Median Price
$1,040,000
+3.2%
Average Price
$985,111
-5.9%
No. Sold
9
+12.5%
Pending Properties
12
-20.0%
Active
53
-5.4%
Sale/List Price Ratio
95.1%
-3.2%
Days on Market
49
-17.9%
Days of Inventory
177
-15.9%

Market Barometer

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Market Commentary

August was Scorching!

And I’m referring not only to the weather.

Prices for single-family, re-sale homes were up by double-digits, again!

The median price for homes gained 13.5% over last August. The fourth month in a row the median price has been higher by double-digits, and six of the past eight months.

The average price for homes was up 10.1%.

The median price for condos, on the other hand, fell 5%

The average price for condos was up 1.8% over last August.

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 98.2%, and the ratio for condominiums was 99.4%.

Property is selling quickly. It is taking only fifty days from when a home comes on the market to when it goes under contract. The average for the past fourteen years is sixty-eight days.

For condominiums, it took forty-four days from listing to contract in August. The average is sixty-six days.

Inventory, or the lack thereof, continues to be the biggest factor in the Monterey market, as it is throughout the Bay Area.

There are only eighty-two days of home inventory. The average is one-hundred and ninety-three.

For condominiums, there are fifty-nine days compared to an average of one-hundred and ninety-four.

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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