Real Estate Report presented by Maureen Mason

October 2018 Report

Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >


Median Price
$625,007
+5.9%
Average Price
$1,150,550
+36.2%
No. Sold
211
+12.8%
Pending Properties
327
-5.2%
Active
607
-3.3%
Sale/List Price Ratio
98.1%
-0.5%
Days on Market
53
+24.4%
Days of Inventory
83
-17.2%

Market Barometer

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Market Commentary

Home Prices Continue Rising

The average price for single-family, re-sale homes set a new high of $1,150,550 in September. It was up 35.6% year-over-year.

The median sales price for single-family, re-sale homes in Monterey County was up 9.7% year-over-year.

Home sales were up 1.9% in September compared to last year. There were 211 homes sold.

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. It was 98.1%.

Inventory continues to be problematic. It is less than half the average. Compared to last year, inventory was off 5.5%.

Days of inventory is down to 83. The average is 185.

As of October 5th, there were 607 homes for sale. The average is 1,333.

Homes are selling slightly faster than normal. It is taking only 53 days from when a home comes on the market to when it goes under contract. The average for the past fourteen years is 68 days.

Prices for condos slumped last month. The median price for condos was down 12.5% year-over-year. The average price was down 26.5%.

Condo sales were down 20%.

The sales price to list price ratio for condos fell to 97.4%.

It is taking 52 days from when a condo comes on the market to when it goes under contract. The average for the past fourteen years is 66 days.

Days of inventory is down to 95. The average is 195.

There are 92 condos for sale. The average is 122.

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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