Real Estate Report presented by Pete Ruiz

November 2019 Report

Single Family Homes in Monterey County, All Cities, All Neighborhoods Change >


Median Price
$649,000
-0.5%
Average Price
$955,494
-6.8%
No. Sold
207
+16.3%
Pending Properties
357
-1.4%
Active
563
-4.7%
Sale/List Price Ratio
97.8%
+0.2%
Days on Market
59
+17.6%
Days of Inventory
82
-15.3%

Market Barometer

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Market Commentary

Sales Prices % Sales Up in October

The median sales price for homes in Monterey County was up 7.3% year-over-year. It was down 0.5% from September.

The average price rose 3.4%  year-over-year. It was down 6.8% from September.

Home sales were up 16.3% from September, and, they were up 8.9% compared to last year. There were 207 homes sold last month.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, rose from 97.5% to 97.8%.

Inventory was down for the third month in a row, dropping 6%.

As of November 5th, there were 563 homes for sale. The average is 1,333.

Days of inventory fell from 96 to 82. The average is 185.

Days of Inventory reflects an estimate of the amount of time it would take to sell all of 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 rose from 50 days to 59 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 was up 21.8%, year-over-year, while the average sales price gained 23.8%. 

Condo sales were down 2.3%.

The sales price to list price ratio for condos was 97.9%.

It is taking 59 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 53 from 70. The average is 195.

There are 76 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, click on Recent Sales & Listings, you will see what has sold, what is for sale and what is pending in your neighborhood.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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