Real Estate Report presented by Information Designs

August 2020 Report

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


Median Price
$830,000
+10.7%
Average Price
$1,297,480
+10.0%
No. Sold
273
-14.2%
Pending Properties
457
-1.3%
Active
331
-12.7%
Sale/List Price Ratio
98.7%
+0.5%
Days on Market
57
+6.4%
Days of Inventory
36
+1.7%

Market Barometer

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Market Commentary

Home Prices Set New Highs, Sales Surge

The average price for single-family, re-sale homes set a new record high for the third month in a row in August. It rose 46.8% year-over-year.

The median sales price for homes in Monterey County also set a new high last month. It rose 30.7%, year-over-year.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose to 98.7% from 98.2%.

Compared to July, home sales were down 14.2% in August. Home sales were up 19.2% year-over-year. There were 273 homes sold in Monterey County last month. The average since 2000 is 241.

Year-to-date, home sales are down 12.4%.

Inventory for single-family, re-sale homes was down for the thirteenth month in a row, dropping 57.9% year-over-year.

As of September 5th, there were 331 homes for sale. The average is 1,333.

Days of inventory stayed at 36. 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 rose from 53 days to 57 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 12.7%, year-over-year, while the average sales price rose 3.4%. 

Condo sales were flat compared to last year.

The sales price to list price ratio for condos rose to 99.4% from 98.9%.

It took 51 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 dropped to 31 from 33. The average is 195.

There are 40 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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