September 2024 Report
Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >
Average Price$1,585,030
+8.7%
Pending Properties210
-3.7%
Sale/List Price Ratio98.6%
-0.4%
Trends at a Glance
| Trends At a Glance |
Sep 2024 |
Previous Month |
Year-over-Year |
| Median Price |
$1,000,000 (+11.1%) |
$900,000 |
$1,039,000 (-3.8%) |
| Average Price |
$1,585,030 (+8.7%) |
$1,458,210 |
$1,569,930 (+1.0%) |
| No. of Sales |
146 (+6.6%) |
137 |
111 (+31.5%) |
| Pending |
210 (-3.7%) |
218 |
162 (+29.6%) |
| Active |
396 (-0.3%) |
397 |
282 (+40.4%) |
| Sale vs. List Price |
98.6% (-0.4%) |
99.0% |
99.8% (-1.3%) |
| Days on Market |
38 (+0.6%) |
38 |
36 (+4.4%) |
| Days of Inventory |
79 (-9.5%) |
87 |
74 (+6.8%) |
Market Commentary
The median sales price for single-family, re-sale homes was down 3.8% year-over-year.
The average sales price for single-family, re-sale homes rose 1% year-over-year.
Home sales jumped 31.5%. There were 146 homes sold in Monterey County last month. The average since 2000 is 239.
The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, dropped from 99% to 98.6%.
Inventory for single-family, re-sale homes was up 40.4% year-over-year.
As of October 5th, there were 396 homes for sale. The average is 1,333.
Days of inventory fell from 87 to 79. 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 stayed at 38. 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 fell 14.2%, year-over-year, while the average sales price fell 5.3%.
Condo sales were up 72.7% compared to last year. There were nineteen condos sold last month.
The sales price to list price ratio for condos rose to 97.9% from 97.3%.
It took 41 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 from 79 to 89. The average is 161.
There are 58 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.