2018 MARKET REPORT
Carmel Carmel Highlands Carmelby-the-Sea Carmel Valley Pebble Beach Big Sur & South Coast Monterey Pacific Grove Seaside Marina
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
2018 MARKET REPORT
Our Notable Listings This Year www.3450MountainView.com • 6 beds, 5.5 baths
www.RanchoMarMonte.com • 6 beds, 6.5 baths
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea www.VistaDelToro.com • 3 beds, 3 baths
2018 MARKET REPORT
Table of Contents Carmel, Carmel-by-the-Sea ������������������������������ 4 Carmel Valley �������������������������������������� 6 Pebble Beach ��������������������������������������� 8 Carmel Highlands, Big Sur & South Coast ������������������������� 10 Monterey ������������������������������������������� 12 Pacific Grove �������������������������������������� 14 Seaside ���������������������������������������������� 16 Marina ���������������������������������������������� 18
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
3
2018 MARKET REPORT
Carmel Carmelby-the-Sea
$1,863,863 Average Selling Price
12%
vs 2017
343 Units Sold
6%
vs 2017
About Carmel
T
he Carmel market saw a 12% increase in average sales price over 2017 and an increase in overall sales volume of 6%. The 2018 Carmel market was driven primarily by sales in the $1M-2M range although the number of sales over $5M nearly doubled from 11 in 2017 to 20 last year. Sales were fairly balanced throughout the year with a slight decline in Q4. 2018 Sales by Segment
$639M Sales Volume
6% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
9%
6% 27%
17%
vs 2017
72 Days on Market
41%
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$2.25M
$1.75M
Average vs Median Sales Price
$2M
$1.25M
Carmel Carmelby-the-Sea
$1.75M
Q1
Q2 2017 2018
$1.5M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
120
$1.25M
90
2014
2015
2016
Average Sale Price
2017
2018
Median Sale Price
60
30
Days on Market 100 Q1
Q2
Q3
2017
75
Q4 2018
Closed Sales Volumeâ&#x20AC;¨ by Quarter
$180M
50
$165M
$150M
831.624.2300 montereycoastrealty.com
25
Dolores and Seventh Carmel-by-the-Sea
$135M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
5
2018 MARKET REPORT
Carmel Valley
$1,223,985 Average Selling Price
18%
vs 2017
115
About Carmel Valley
C
armel Valleyâ&#x20AC;&#x2122;s average sales price increased by 18% to $1,223,985. While there were 10 sales above $2M in 2018 compared to 5 in 2017, 47% of all sales were under $1M and 44% in $1M-2M range. The majority of the sales took place in Q2 & Q3.
Units Sold
9%
vs 2017
2018 Sales by Segment
3%
$140M
5%
Sales Volume
9% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
47% 44%
vs 2017
82 Days on Market
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$1.5M
$1.25M
Average vs Median Sales Price
$1.25M
$1M
$0.75M
Carmel Valley
$1M
Q1
Q2
2017 2018
$0.75M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
50
$0.5M
40
2014
2015
2016
Average Sale Price
2017
2018
30
Median Sale Price 20
10
Days on Market 100 Q1
Q2
Q3
2017
75
Q4 2018
Closed Sales Volume â&#x20AC;¨ by Quarter
$50M
50
$40M
$30M
831.624.2300 montereycoastrealty.com
25
Dolores and Seventh Carmel-by-the-Sea
$20M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
7
2018 MARKET REPORT
Pebble Beach
$2,763,957 Average Selling Price
27%
vs 2017
137 Units Sold
3%
vs 2017
$378M Sales Volume
31% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
About Pebble Beach
T
he average sales price in Pebble Beach was up an impressive 27% to $2,763,957. This increase was driven by 15 sales above $5M, two of which were above $25M. Transactions in the $1M-2M range were steady and represented 53% of the market. Total sales in Q4 accounted for only 11% of 2018 volume, driven primarily by a signiďŹ cant slowdown at the higher end price ranges. 2018 Sales by Segment
11% 11%
13% 53%
vs 2017
102 Days on Market
12%
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$4.25M
$3.5M
Average vs Median Sales Price
$2.8M $2.75M
Pebble Beach
$2M
$2.35M
Q1
Q2
2017 2018
$1.9M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
50
$1.45M
40
2014
2015
2016
Average Sale Price
2017
2018
30
Median Sale Price 20
10
Days on Market 120 Q1
Q2
Q3
2017
90
Q4 2018
Closed Sales Volume â&#x20AC;¨ by Quarter
$150M
60
$120M
$90M
831.624.2300 montereycoastrealty.com
30
Dolores and Seventh Carmel-by-the-Sea
$60M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
9
2018 MARKET REPORT
Carmel Highlands Big Sur & South Coast
$2,938,700 Average Selling Price
19%
vs 2017
18 Units Sold
38%
vs 2017
$53M
About Carmel Highlands
T
he Carmel Highlands, South Coast and Big Sur markets experienced an increase of 38% in number of units sold from 13 to 18 sales. The average sales price in this market increased by almost 20% to $2,938,700. The total sales volume increased over 50% to $53M in 2018 versus the previous two years which were eďŹ&#x20AC;ected by limited access to those markets in 2016 and 2017. 2018 Sales by Segment
11%
6%
17%
Sales Volume
65% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs 2017
247 Days on Market
67%
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$7M
$5.25M
Average vs Median Sales Price
$3.5M $3.5M
Carmel Highlands Big Sur & South Coast
$1.75M
$2.75M
Q1
Q2 2017 2018
$2M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
6
$1.25M
4
2014
2015
2016
Average Sale Price
2017
2018
Median Sale Price 2
Days on Market 400 Q1
Q2
Q3
Q4
2017
300
2018
Closed Sales Volume â&#x20AC;¨ by Quarter
$30M
200
$23M
$16M
831.624.2300 montereycoastrealty.com
100
Dolores and Seventh Carmel-by-the-Sea
$8M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
11
2018 MARKET REPORT
Monterey
$901,691 Average Selling Price
3%
About Monterey
T
he Monterey market had a healthy balanced year driven by the under $1M market which comprises 72% of all sales. The average sales price was up 3% to $901,691, while number of units sold remained ďŹ&#x201A;at over 2017. There was a decline in Q4 where sales accounted for 18% of the annual volume.
vs 2017
298 Units Sold
3%
vs 2017
2018 Sales by Segment
$268M
1% 2% 24%
Sales Volume
no change 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
51 Days on Market
72%
vs 2017
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$1.25M
$1M
Average vs Median Sales Price
$1M $0.75M
$0.5M
Monterey $0.75M
Q1
Q2
2017 2018
$0.5M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
100
80
2014
2015
2016
Average Sale Price
2017
2018
Median Sale Price
60
40
Days on Market 75 Q1
Q2
Q3
2017
Q4 2018
Closed Sales Volume â&#x20AC;¨ by Quarter
50
$80M
$70M
25
$60M
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
$50M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
13
2018 MARKET REPORT
Pacific Grove
$1,047,982 Average Selling Price
5%
vs 2017
166 Units Sold
9%
Dolores and Seventh Carmel-by-the-Sea
he average sales price in PaciďŹ c Grove increased by 5% to $1,047,982. PaciďŹ c Grove had one sale over $5M while 65% of the sales remained under $1M. Overall sales volume was equally distributed throughout the year, which suggests a strong level of stability in the market.
2018 Sales by Segment
Sales Volume
831.624.2300 montereycoastrealty.com
T
vs 2017
$676M 5%
About Pacific Grove
1%
1% 2% 31%
65%
vs 2017
49 Days on Market
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$1.25M
Average vs Median Sales Price
$1M
$1.25M
$0.75M
Pacific Grove
$1M
Q1
Q2
2017 2018
$0.75M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
60
$0.5M
40
2014
2015
2016
Average Sale Price
2017
2018
Median Sale Price 20
Days on Market 75 Q1
Q2
Q3
2017
Q4 2018
Closed Sales Volume â&#x20AC;¨ by Quarter
50
$60M
$50M
25
$40M
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
$30M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
15
2018 MARKET REPORT
Seaside
$555,591 Average Selling Price
6%
About Seaside
S
easide continues to be one of the more aďŹ&#x20AC;ordable communities on the Peninsula, with 67% of the sales in the $400600K price range. Average sales price was up 6% to $555,591. At year end there was 3.7 months of available inventory which indicates a limited supply and bodes well for growth in sales price in 2019.
vs 2017
183 Units Sold
6%
vs 2017
2018 Sales by Segment
$101M
8%
5%
20%
Sales Volume
no change 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
33 Days on Market
vs 2017
67%
>$ 400k $400-600k $600-800k $800k-1M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$0.6M
$0.5M
Average vs Median Sales Price
$0.75M
$0.4M
Seaside $0.5M Q1
Q2
2017 2018
$0.25M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
75
55
2014
2015
2016
Average Sale Price
2017
2018
Median Sale Price 35
Days on Market 60 Q1
Q2
Q3
2017
45
Q4 2018
Closed Sales Volume â&#x20AC;¨ by Quarter
$40M
$35M
30
$30M
831.624.2300 montereycoastrealty.com
$25M
15
Dolores and Seventh Carmel-by-the-Sea
$20M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
17
2018 MARKET REPORT
Marina
$604,089 Average Selling Price
11%
vs 2017
201 Units Sold
12%
vs 2017
About Marina
T
he Marina market was very strong in 2018 with an 11% increase in sales price and a 31% increase in total sales volume. Almost 90% of the market remained under $800K, 44% were $400-600K and 45% of the sales were from $600-800K range. With only 3 months of available inventory, demand in the Marina market remains high and should contribute to a strong 2019. 2018 Sales by Segment
$121M Sales Volume
31% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
5% 6%
45%
44%
vs 2017
39 Days on Market
>$ 400k $400-600k $600-800k $800k-1M
Average vs Median Sales Price by Quarter
2018 MARKET REPORT
$0.65M
Average vs Median Sales Price
$0.55M
$0.65M
$0.45M
Marina $0.55M Q1
Q2
2017 2018
$0.45M
Q3
Q4
2017 Median 2018 Median
Closed Sales by Quarter
60
50
2014
2015
2016
Average Sale Price
2017
2018
40
Median Sale Price 30
20
Days on Market 60 Q1
Q2
Q3
2017
Q4 2018
Closed Sales Volume â&#x20AC;¨ by Quarter
40
$40M
$30M
20
$20M
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
$10M
2014
2015
2016
2017
2018
Q1
Q2 2017
Q3 2018
Q4
19
Lore Lingner 831.250.6178 lore@montereycoastrealty.com lorelingner.com DRE#00788278
Locally Owned Globally Connected Results Driven Experts 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea