Real Estate Report presented by Information Designs

December 2020 Report

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


Median Price
$788,000
-7.3%
Average Price
$1,361,960
+5.5%
No. Sold
248
+0.8%
Pending Properties
301
-13.3%
Active
260
-21.2%
Sale/List Price Ratio
99.8%
+0.1%
Days on Market
37
-5.0%
Days of Inventory
31
-19.2%

Market Barometer

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Market Commentary

Home Prices & Sales Continue Rising

The average sales price for single-family, re-sale homes rose 36.3% year-over-year.

The median sales price for homes in Monterey County was up 27.8%, year-over-year.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose to 99.8% from 99.7%.

Compared to November, home sales were up 10.2% in December. Home sales were up 16.4% year-over-year. There were 248 homes sold in Monterey County last month. The average since 2000 is 241.

For the year, home sales were up 2.2%.

Inventory for single-family, re-sale homes was down for the seventeenth month in a row, dropping 44.9% year-over-year.

As of January 5th, there were 260 homes for sale. The average is 1,333.

Days of inventory fell from 35 to 31. The average is 185.

Days of Inventory reflects an estimate of the amount of time it would take to sell all the current listings if no new listings became available. It is calculated by taking the number of homes for sale and dividing by the number of homes sold in a given time frame. We use last month’s sold number.

Days on Market dropped to 37 from 39 days last month. The average for the past fourteen years is 68 days. Days on Market counts the time from when a home comes on the market to when it goes into contract.

The median sales prices for condos was down 7.3%, year-over-year, while the average sales price gained 3.6%. 

Condo sales were up 42.9% compared to last year.

The sales price to list price ratio for condos stayed at 99.0%.

It took 72 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 fell to 17 from 21. The average is 195.

There are 22 condos for sale. The average is 122.

For assistance in this market, do not hesitate to contact me. If you are thinking of selling, I can provide a free comparative market analysis. Also, if you go to my on-line report and click on Recent Sales & Listings, you will see what has sold, what is for sale and what is pending in your neighborhood.

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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