April 2021 Report
Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >
Average Price$1,503,800
+0.9%
Pending Properties354
+0.3%
Sale/List Price Ratio101.2%
+0.9%
Days of Inventory28
-10.3%
Trends at a Glance
| Trends At a Glance |
Apr 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$830,000 (-10.8%) |
$931,000 |
$660,000 (+25.8%) |
| Average Price |
$1,503,800 (+0.9%) |
$1,489,970 |
$1,110,250 (+35.4%) |
| No. of Sales |
223 (+8.3%) |
206 |
133 (+67.7%) |
| Pending |
354 (+0.3%) |
353 |
161 (+119.9%) |
| Active |
214 (+0.5%) |
213 |
583 (-63.3%) |
| Sale vs. List Price |
101.2% (+0.9%) |
100.4% |
98.1% (+3.2%) |
| Days on Market |
30 (-16.3%) |
36 |
40 (-24.9%) |
| Days of Inventory |
28 (-10.3%) |
31 |
127 (-78.1%) |
Market Commentary
The average sales price for single-family, re-sale homes set a new high for the second month in a row at $1,503,800. It rose 33.2% year-over-year.
The median sales price for homes in Monterey County was up 25.8%, year-over-year.
The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose to 101.2% from 100.4%.
Compared to March, home sales were up 8.3% in April. Home sales were up 72.9% year-over-year. There were 223 homes sold in Monterey County last month. The average since 2000 is 241.
Inventory for single-family, re-sale homes was down for the twenty-first month in a row, dropping 53.7% year-over-year.
As of May 5th, there were 214 homes for sale. The average is 1,333.
Days of inventory fell from 31 to 28. 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 fell to 30 from 36 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 rose 42.8%, year-over-year, while the average sales price gained 30.8%. The median sales price set a new high of $674,500.
Condo sales were up 208.3% compared to last year. There were 37 condos sold last month.
The sales price to list price ratio for condos fell to 99.7% from 102.9%.
It took 44 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 27 from 17. The average is 195.
There are 34 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.