July 2022 Report
Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >
Average Price$1,289,900
+0.8%
Pending Properties308
-7.8%
Sale/List Price Ratio100.2%
-0.4%
Days of Inventory64
+37.4%
Trends at a Glance
| Trends At a Glance |
Jul 2022 |
Previous Month |
Year-over-Year |
| Median Price |
$924,500 (+8.8%) |
$850,000 |
$821,500 (+12.5%) |
| Average Price |
$1,289,900 (+0.8%) |
$1,279,800 |
$1,431,280 (-9.9%) |
| No. of Sales |
170 (-15.4%) |
201 |
238 (-28.6%) |
| Pending |
308 (-7.8%) |
334 |
346 (-11.0%) |
| Active |
364 (+12.3%) |
324 |
325 (+12.0%) |
| Sale vs. List Price |
100.2% (-0.4%) |
100.6% |
102.5% (-2.2%) |
| Days on Market |
23 (-8.1%) |
25 |
20 (+11.9%) |
| Days of Inventory |
64 (+37.4%) |
47 |
41 (+56.8%) |
Market Commentary
Home sales fell year-over-year for the thirteenth month in a row. They were down 28.6%. There were 170 homes sold in Monterey County last month. The average since 2000 is 239.
The average sales price for single-family, re-sale homes dropped 9.9% year-over-year. The median sales price rose 12.5%.
The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, fell from 100.6% to 100.2%.
After dropping thirty-two months in a row, inventory for single-family, re-sale homes was up for the fourth month in a row. It gained 43.9% year-over-year.
As of August 5th, there were 364 homes for sale. The average is 1,333.
Days of inventory rose from 47 to 64. 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 23 from 25 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 17.2%, year-over-year, while the average sales price jumped 50.2%. They both set new highs.
Condo sales were down 48.6% compared to last year. There were 18 condos sold last month.
The sales price to list price ratio for condos fell to 100.3% from 102.5%.
It took 13 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 25 to 55. The average is 161.
There are 33 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.