Real Estate Report presented by Information Designs

October 2020 Report

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


Median Price
$850,000
-0.6%
Average Price
$1,363,490
-6.2%
No. Sold
279
-6.4%
Pending Properties
424
-0.9%
Active
304
-8.2%
Sale/List Price Ratio
99.1%
+0.2%
Days on Market
47
+1.0%
Days of Inventory
33
+1.5%

Market Barometer

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Market Commentary

Home Prices Rise, Sales Surge, Again

The average price for single-family, re-sale homes slipped a bit from the record high set in September. But, it was up 46.4% year-over-year.

The median sales price for homes in Monterey County also slipped from the new high set in September. Nevertheless, it was up 32.5%, year-over-year.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose to 99.1% from 98.9%.

Compared to September, home sales were down 5.4% in October. Home sales were up 26.2% year-over-year. There were 279 homes sold in Monterey County last month. The average since 2000 is 241.

Year-to-date, home sales are down 1.7%.

Inventory for single-family, re-sale homes was down for the fifteenth month in a row, dropping 57.1% year-over-year.

As of November 5th, there were 304 homes for sale. The average is 1,333.

Days of inventory rose from 31 to 33. 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 was flat at 47 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 up 21.5%, year-over-year, while the average sales price gained 16.6%. 

Condo sales were down 6.8% compared to last year.

The sales price to list price ratio for condos fell to 98.5% from 99.0%.

It took 75 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 26 from 32. The average is 195.

There are 36 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 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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