Real Estate Report presented by Information Designs

February 2020 Report

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


Median Price
$648,500
+5.2%
Average Price
$853,679
-14.6%
No. Sold
132
-38.0%
Pending Properties
264
+10.5%
Active
450
-4.7%
Sale/List Price Ratio
97.7%
+0.5%
Days on Market
58
-2.2%
Days of Inventory
102
+53.8%

Market Barometer

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Market Commentary

Inventory Down for the Sixth Month in a Row

Inventory for single-family, re-sale homes was down for the sixth month in a row, dropping 31.1% year-over-year.

As of February 5th, there were 450 homes for sale. The average is 1,333.

Days of inventory rose from 66 to 102. The average is 185.

Days of Inventory reflects an estimate of the amount of time it would take to sell all of 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.

The average price for single-family, re-sale homes rose 5.8%  year-over-year. It was down 14.6% from December.

The median sales price for homes in Monterey County rose 10.8%, year-over-year. It was down 5.2% from December.

Home sales were down 38% from December. That is typical for December/January. They were down 19.5% compared to last year. There were 132 homes sold last month.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose from 97.2% to 97.7%.

Days on Market fell from 59 days to 58 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 16%, year-over-year, while the average sales price fell 17.6%. 

Condo sales were down 5% compared to last year.

The sales price to list price ratio for condos rose to 98.5% from 97.4%.

It is taking 56 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 rose to 79 from 64. The average is 195.

There are 50 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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