Real Estate Report presented by Pete Ruiz

June 2020 Report

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


Median Price
$740,000
+13.8%
Average Price
$1,173,050
+47.9%
No. Sold
178
+100.0%
Pending Properties
448
+42.2%
Active
425
-15.0%
Sale/List Price Ratio
98.0%
0.0%
Days on Market
58
+13.3%
Days of Inventory
69
-58.9%

Market Barometer

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Market Commentary

Home Prices & Sales Surge in June

The average price for single-family, re-sale homes set a new record high in June. It rose 22.9%  year-over-year. It was up a whopping 47.9% from May.

The median sales price for homes in Monterey County rose 17.5%, year-over-year. It was up 13.8% from April.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, stayed at 98%.

Compared to May, home sales doubled in June. Home sales were down 13.2% year-over-year. There were 178 homes sold in Monterey County last month. The average since 2000 is 241.

Year-to-date, home sales are down 28.8%.

Inventory for single-family, re-sale homes was down for the eleventh month in a row, dropping 42.8% year-over-year.

As of July 5th, there were 425 homes for sale. The average is 1,333.

Days of inventory dropped from 169 to 69. 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 51 days to 58 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 37.4%, year-over-year, while the average sales price rose 3.1%. 

Condo sales were down 57.1% compared to last year.

The sales price to list price ratio for condos rose to 97.1% from 97.7%.

It took 50 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 98 from 180. The average is 195.

There are 61 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 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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