Real Estate Report presented by Information Designs

July 2020 Report

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


Median Price
$750,000
+1.4%
Average Price
$1,179,650
+0.6%
No. Sold
318
+78.7%
Pending Properties
463
+3.3%
Active
379
-10.8%
Sale/List Price Ratio
98.2%
+0.3%
Days on Market
53
-8.2%
Days of Inventory
36
-48.4%

Market Barometer

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Market Commentary

Home Prices & Sales Continue to Surge

The average price for single-family, re-sale homes set a new record high for the second month in a row in July. It rose 20.7% year-over-year.

The median sales price for homes in Monterey County rose 15.1%, year-over-year. It was up 1.4% from June.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose to 98.2% from 98%.

Compared to June, home sales were up 78.7% in July. Home sales were up 42% year-over-year. There were 318 homes sold in Monterey County last month. The average since 2000 is 241.

Year-to-date, home sales are down 17.5%.

Inventory for single-family, re-sale homes was down for the twelfth month in a row, dropping 50.9% year-over-year.

As of August 5th, there were 375 homes for sale. The average is 1,333.

Days of inventory dropped from 69 to 36. 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.

Days on Market fell from 58 days to 53 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 5.3%, year-over-year, while the average sales price fell 15.4%. 

Condo sales were up 57.1% compared to last year.

The sales price to list price ratio for condos rose to 98.9% from 98.1%.

It took 57 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 33 from 98. The average is 195.

There are 49 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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