Real Estate Report presented by Therese Kent

January 2018 Report

Single Family Homes in Monterey County, Pacific Grove, All Neighborhoods Change >

Median Price
Average Price
No. Sold
Pending Properties
Sale/List Price Ratio
Days on Market
Days of Inventory

Market Barometer

Enlarge >

Market Commentary

Prices Up, Sales Down to End the Year

The median price of single-family, re-sale homes in Monterey County gained 23.3%, year-over-year, to $614,500 in December. 

The average price for homes was $902,530, a gain of 5.3% compared to last December.

The median price for condos jumped 19.9% year-over-year. The average price gained 20.7% over last December.

Home sales were off 1.9% year-over-year. Condo sales were off 14.8%.

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 for condominiums was 97.0%.

Property is selling quickly. It is taking only sixty-one 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 seventy-five-nine days from listing to contract in December. 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 sixty-eight days of home inventory. The average is one-hundred and ninety-three.

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

As of December 5th, there were four hundred and sixty-eight homes for sale. The average is 1,333.

There were forty-three condos for sale. The average is one hundred and twenty-two.

Prices & Sales

Enlarge >

Days of Inventory

Enlarge >

Sales to Date

Enlarge >

Sales Price Ratio

Enlarge >