Pacific Grove

Quarter 2 in Paci c Grove was consistent with its previous two quarters. e number of sales (32) was just two above the slow quarters of Q4 2022 and Q1 2023. Average sale price ($1.55M), while down 9.4% versus Q1, was up 1.6% compared to Q2 2022. is strong average sale price paired with average days on the market coming in at 30 days, shows a strong demand when new homes come on the market. One of the main drivers in the Paci c Grove market continues to be low inventory, with just 18 active listings moving into Q3.

Average Selling Price

$1,547,380 9.4% 1.6% versus Q1 2023 versus Q2 2022

Days on Market

30

44.4% 233.3% versus Q1 2023 versus Q2 2022

Sales Volume

$49,516,155

3.4% 26.1% versus Q1 2023 versus Q2 2022

Units Sold

32 6.7% 27.3% versus Q1 2023 versus Q2 2022 e Monarch Butter y Sanctuary in Paci c Grove is one of the largest monarch overwintering sites in America. e monarchs arrive in October a er a 2,000-mile migration and overwinter until February.

Did You Know?

Monterey & Del Rey Oaks

Monterey experienced 66 total sales during Q2, the most since Q2 2022. Zero sales over $3M, limited the average sale price to $1.13M, down 13.6% year over year, and 9.5% quarter over quarter. Median sale price also dipped to $918K, the lowest since Q1 of 2021. Forty active listings at the end of the quarter are the most since last October, showing promise for a high number of sales in the quarter ahead.

Average Selling Price

$1,134,770

9.5% 13.6% versus Q1 2023 versus Q2 2022

Days on Market

25

4.2% 10.7% versus Q1 2023 versus Q2 2022

Sales Volume

$74,894,816

42.2% 18.6% versus Q1 2023 versus Q2 2022

Units Sold

66

57.1% 5.7% versus Q1 2023 versus Q2 2022 e Monterey Bay National Marine Sanctuary covers 5,312 square miles. is is one and a half times the size of the largest national park in the continental U.S. At its center is a submarine canyon twice as deep as the Grand Canyon.

Did You Know?

“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020

A Cornerstone in Luxury Real Estate for Over 100 Years

Carmel Realty Company was founded in 1913, predating the incorporation of the City of Carmel. For four generations since then, e Mitchell Family has been a leader in the Real Estate market in Carmel and Pebble Beach. When the Mitchell Family sold their billion-dollar real estate company, e Mitchell Group, to Sotheby’s International Realty in August 2005, Dan and Shelly Mitchell Lynch purchased Carmel Realty Company in order to continue its century of quality and rich tradition as local, luxury real estate experts. e goal was to remain local business owners and to maintain the family’s impeccable position in the local real estate market. Carmel Realty Company is the oldest real estate company in Carmel with a rich history and heritage of being family-owned and a reputation for integrity, longevity and excellence. Our longevity is no accident. It is an incredible brand and brand name. Carmel Realty Company has been in business since 1913, and we operate upon the principles of integrity, work ethic, teamwork, collaboration, communication and customer service. We are very excited and proud of the company, the vision and our team of professionals who have been hand-picked, proven and benchmarked as the best in the business.