December 2022 Report
Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >
Average Price$1,240,970
-21.2%
Pending Properties228
-5.4%
Sale/List Price Ratio97.9%
+0.1%
Days of Inventory74
-14.2%
Trends at a Glance
| Trends At a Glance |
Dec 2022 |
Previous Month |
Year-over-Year |
| Median Price |
$775,000 (-5.5%) |
$820,000 |
$858,500 (-9.7%) |
| Average Price |
$1,240,970 (-21.2%) |
$1,574,450 |
$1,528,420 (-18.8%) |
| No. of Sales |
111 (-6.7%) |
119 |
246 (-54.9%) |
| Pending |
228 (-5.4%) |
241 |
303 (-24.8%) |
| Active |
274 (-22.6%) |
354 |
134 (+104.5%) |
| Sale vs. List Price |
97.9% (+0.1%) |
97.8% |
100.7% (-2.8%) |
| Days on Market |
45 (-13.6%) |
52 |
38 (+19.0%) |
| Days of Inventory |
74 (-14.2%) |
86 |
16 (+353.2%) |
Market Commentary
Home sales fell year-over-year for the eighteenth month in a row. They were down 54.9%. There were 111 homes sold in Monterey County last month. The average since 2000 is 239.
The average sales price for single-family, re-sale homes fell 18.8% year-over-year. The median sales price fell 9.7%.
The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose from 97.7% to 97.9%.
After dropping thirty-two months in a row, inventory for single-family, re-sale homes were up for the ninth month in a row. It gained 104.5% year-over-year.
As of January 5th, there were 274 homes for sale. The average is 1,333.
Days of inventory fell from 77 to 74. 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 45 from 53 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 fell 16.4%, year-over-year, while the average sales price fell 27.3%.
Condo sales were down 53.8% compared to last year. There were 12 condos sold last month.
The sales price to list price ratio for condos rose to 99.7% from 98.4%.
It took 26 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 60 to 73. The average is 161.
There are 29 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.