Monterey Peninsula Real Estate Homes Sales and Dollar Volumes Continue to Grow through first half of 2017. The majority of markets see prices and sales higher from a year ago.
Homes Sales and Dollar Volumes Continue to Grow
The Monterey Peninsula is made up of several communities each with unique character and market dynamics. This report groups the Monterey Peninsula as Carmel, Pebble Beach, Pacific Grove, Monterey (+ Del Rey Oaks), Seaside (+ Sand City) and Carmel Valley. Here is a look at the numbers for June 2017 compared to June 2016.
First Half of 2017 Sales are Strong
Number of sales is up 7.1% across the Monterey Peninsula for the first half of 2017 compared to 2016. Total home sales dollar is 6.3% over the same period. Median prices remain relatively similar but the have slightly dipped in Carmel and Pebble Beach while rising in other markets.
Large Number of Properties in Escrow and Limited Availability in Markets
As of July 7, here are the market breakdowns of total available inventory and the percentages under contract.
Active Pending Inventory
Number in Escrow
Percentage in Escrow
General Market Observations
General market observations across markets are that the median priced homes are selling relatively quickly; however, the premium and luxury home sales are slowing. This is compounded by more people listing homes at aspirational (i.e. too high of) prices. This is contributing to a large inventory of luxury Monterey Peninsula homes.
In addition to this report you can find monthly market reports on all of the individual markets at Market Info.
For a personal introduction to the different neighborhoods of the Monterey Peninsula and a business analysis of real estate, contact Mark Peterson at 831.238.1380 or Email.