March 2021 Report
Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >
Average Price$1,489,970
+11.3%
Pending Properties353
+6.6%
Sale/List Price Ratio100.4%
+1.0%
Days of Inventory31
-12.2%
Trends at a Glance
| Trends At a Glance |
Mar 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$931,000 (+14.9%) |
$810,000 |
$680,000 (+36.9%) |
| Average Price |
$1,489,970 (+11.3%) |
$1,339,040 |
$1,104,950 (+34.8%) |
| No. of Sales |
206 (+17.7%) |
175 |
180 (+14.4%) |
| Pending |
353 (+6.6%) |
331 |
207 (+70.5%) |
| Active |
213 (-7.0%) |
229 |
572 (-62.8%) |
| Sale vs. List Price |
100.4% (+1.0%) |
99.4% |
98.1% (+2.3%) |
| Days on Market |
36 (-14.5%) |
42 |
64 (-43.2%) |
| Days of Inventory |
31 (-12.2%) |
35 |
95 (-67.5%) |
Market Commentary
The average sales price for single-family, re-sale homes set a new high of $1,489,970. It rose 33.8% year-over-year.
The median sales price for homes in Monterey County also set a new high at $931,000. It was up 36.4%, year-over-year.
The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose to 100.4% from 99.4%.
Compared to February, home sales were up 17.7% in March. Home sales were up 19.8% year-over-year. There were 206 homes sold in Monterey County last month. The average since 2000 is 241.
Inventory for single-family, re-sale homes was down for the twentieth month in a row, dropping 53% year-over-year.
As of April 5th, there were 213 homes for sale. The average is 1,333.
Days of inventory fell from 35 to 31. 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 36 from 42 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 36.9%, year-over-year, while the average sales price gained 57.1%. The average sales price set a new high of $839,758.
Condo sales were up 3.3% compared to last year. There were 40 condos sold last month.
The sales price to list price ratio for condos rose to 102.9% from 100.8%.
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 dropped to 17 from 20. The average is 195.
There are 22 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.