Q3 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
Q3 2018 MARKET REPORT
Carmel Carmel Highlands Carmelby-the-Sea
$2,020,711 Average Selling Price
30%
vs Q3 2017
88
Units Sold
159
About Carmel
T
he Carmel market remained strong in the Q3 with 88 units sold and a 30% increase in average sales price. Fortyone percent of the sales YTD have been in the $1M-2M range although we have had 14 sales over $5M. With 5.1 months of inventory available the momentum should continue to year end. 2018 YTD Sales by Segment
Active Listings
5% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs Q2
11%
5% 26%
18%
5.1
41%
Months of Inventory
4%
vs Q2
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
Q3 2018
$2.1M
MARKET REPORT
$1.58M
Average vs Median Sales Price
$1,700,000 $1.05M
Carmel Carmel Highlands Carmelby-the-Sea
$0.53M
$1,275,000
Q1
Q2
2017 2018
$850,000
Q3 2017 Median 2018 Median
Closed Sales by Quarter & Days on Market
$425,000
120
90
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price
60
30
Number of Sales vs Days on Market 500
Q1
Q2
2017 2018
375
Q3
2017 Days on Market 2018 Days on Market
Closed Sales Volume by Quarter
$190M
250 $143M
831.624.2300 montereycoastrealty.com
$95M
125
Dolores and Seventh Carmel-by-the-Sea
$48M
2013
2014 Days on Market
2015
2016 Number of Sales
2017 Q1 2017
Q2
Q3 2018
Q3 2018 MARKET REPORT
Carmel Valley
$1,164,045 Average Selling Price
17%
vs Q3 2017
32
Units Sold
64
About Carmel Valley
C
armel Valley also saw an increase in average sales price up 17% over Q3 of 2017 to $1,164,045. 32 properties changed hands down from Q2. There are only 64 active listings leaving 4.9 months of available inventory. The higher end is seeing more activity with 4 sales YTD in the $3-5M range compared to none last year.
2018 YTD Sales by Segment
4%
Active Listings
6% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
4%
vs Q2
4.9
48% 43%
Months of Inventory
6%
vs Q2
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
Q3 2018
$1.3M
MARKET REPORT
$0.98M
Average vs Median Sales Price
$1,200,000
Carmel Valley
$0.65M
$0.33M
$900,000
$600,000
Q1
Q2
2017 2018
2017 Median 2018 Median
Q3
Closed Sales by Quarter & Days on Market
$300,000
90
60
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price 30
Number of Sales vs Days on Market 130
Q1 2017 2018
97.5
Q2
Q3
2017 Days on Market 2018 Days on Market
Closed Sales Volume by Quarter
$50M
65 $38M
831.624.2300 montereycoastrealty.com
$25M
32.5
Dolores and Seventh Carmel-by-the-Sea
$13M
2013
2014 Days on Market
2015
2016 Number of Sales
2017 Q1
Q2 2017
Q3 2018
Q3 2018 MARKET REPORT
Pebble Beach
$4,018,843 Average Selling Price
76%
vs Q3 2017
35
Units Sold
93
About Pebble Beach
T
he Pebble Beach market remained steady with $140M in sales volume up 38.6% over Q2. The $2M+ market remains strong commanding 35% of the YTD sales overall in the Q3. There are 93 active listings up 27% over Q2. This additional inventory should allow for a strong ďŹ nish in 2018.
2018 YTD Sales by Segment
12%
Active Listings
27% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
14%
13%
vs Q2
13.3
10% 50%
Months of Inventory
118%
vs Q2
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
Q3 2018
$5M
MARKET REPORT
$3.75M
Average vs Median Sales Price
$2,600,000
Pebble Beach
$2.5M
$1.25M
$1,950,000
Q1
Q2
2017 2018
$1,300,000
Q3
2017 Median 2018 Median
Closed Sales by Quarter & Days on Market
$650,000
160
120
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price
80
40
Number of Sales vs Days on Market 140
Q1 2017 2018
Q2
Q3
2017 Days on Market 2018 Days on Market
105 Closed Sales Volume by Quarter
$150M
70 $113M
831.624.2300 montereycoastrealty.com
$75M
35
Dolores and Seventh Carmel-by-the-Sea
$38M
2013
2014 Days on Market
2015
2016 Number of Sales
2017 Q1
Q2 2017
Q3 2018
Q3 2018 MARKET REPORT
Big Sur & South Coast
$4,537,500 Average Selling Price
179%
vs Q3 2017
2
About Big Sur
T
wo properties closed, one for $7.8M and one for $1.2M. 83% of the 6 sales YTD have been in the $1-2M range. New listings stayed static without activity. At the current rate there is 12 months of inventory available.
Units Sold 2018 YTD Sales by Segment
12
17%
Active Listings
27% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs Q2
12
83%
Months of Inventory
118%
vs Q2
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
Q3 2018
$5M
MARKET REPORT
$3.75M
Average vs Median Sales Price
$4,000,000 $2.5M
Big Sur & South Coast
$1.25M
$3,000,000
Q1
Q2
2017 2018
$2,000,000
Q3
2017 Median 2018 Median
Closed Sales by Quarter & Days on Market
$1,000,000
700
525
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price
350
175
Number of Sales vs Days on Market 500 Q1
Q2
2017 2018
Q3
2017 Days on Market 2018 Days on Market
375 Closed Sales Volume by Quarter
$10M
250 $8M
831.624.2300 montereycoastrealty.com
$5M
125
Dolores and Seventh Carmel-by-the-Sea
$3M
2013
2014 Days on Market
2015
2016
2017
Number of Sales
Q1
Q2 2017
Q3 2018
Q3 2018 MARKET REPORT
Monterey
$938,693 Average Selling Price
14%
vs Q3 2017
78
Units Sold
105
Active Listings
12% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
About Monterey
A
verage sales price saw a 14% increase over last year with 70% of the sales YTD being under $1M. New sales were down slightly but new listings were up 12% leaving 4.8 months of available inventory. Monterey is poised for a strong ďŹ nish in 2018.
2018 YTD Sales by Segment
1% 3% 26%
vs Q2 70%
4.8
Months of Inventory
6%
vs Q2
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
Q3 2018
$1M
MARKET REPORT
$0.75M
Average vs Median Sales Price
$900,000 $0.5M
Monterey
$0.25M
$675,000
Q1
Q2
2017 2018
$450,000
Q3
2017 Median 2018 Median
Closed Sales by Quarter & Days on Market
$225,000
90
67.5
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price
45
22.5
Number of Sales vs Days on Market 400 Q1
Q2
2017 2018
Q3
2017 Days on Market 2018 Days on Market
300 Closed Sales Volume by Quarter
$80M
200 $60M
831.624.2300 montereycoastrealty.com
$40M
100
Dolores and Seventh Carmel-by-the-Sea
$20M
2013
2014 Days on Market
2015
2016
2017
Number of Sales
Q1
Q2 2017
Q3 2018
Q3 2018 MARKET REPORT
Pacific Grove
$1,105,989 Average Selling Price
10%
vs Q3 2017
44
About Pacific Grove
A
verage sales price passed the $1M mark to $1,105,989 in Q3 up 10% from last year. New sales were down slightly but with a 25% increase in active listings over Q2 sales should pick up for the Q4.
Units Sold 2018 YTD Sales by Segment
41
1% 5%
Active Listings
24% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
34%
vs Q2
60%
2.7
Months of Inventory
23%
vs Q2
<$1M 2M-3M 5M+
1M-2M 3M-5M
Average vs Median Sales Price by Quarter
Q3 2018
$1.2M
MARKET REPORT
$0.9M
Average vs Median Sales Price
$1,100,000 $0.6M
Pacific Grove
$0.3M
$825,000
Q1
Q2
2017 2018
$550,000
Q3
2017 Median 2018 Median
Closed Sales by Quarter & Days on Market
$275,000
90
67.5
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price
45
22.5
Number of Sales vs Days on Market 200 Q1
Q2
2017 2018
Q3
2017 Days on Market 2018 Days on Market
150 Closed Sales Volume by Quarter
$70M
100 $53M
831.624.2300 montereycoastrealty.com
$35M
50
Dolores and Seventh Carmel-by-the-Sea
$18M
2013
2014 Days on Market
2015
2016
2017
Number of Sales
Q1
Q2 2017
Q3 2018
Q3 2018 MARKET REPORT
Seaside
$560,465 Average Selling Price
5%
vs Q3 2017
50
Units Sold
28
About Seaside
I
nventory moved fast in Q3. It took an average of 25 days for a properties to sell, the shortest timeframe on the Monterey Peninsula. 50 properties changed hands, up 16% from last year. Sales YTD are strongest in the $400600K price segment. Inventory is low with only 2.8 months of inventory available at the end of Q3.
2018 YTD Sales by Segment
9%
Active Listings
21% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
5%
20%
vs Q2
2.8
65%
Months of Inventory
100%
vs Q2
>$ 400k $400-600k $600-800k $800k-1M
Average vs Median Sales Price by Quarter
Q3 2018
$0.58M
MARKET REPORT
$0.56M
Average vs Median Sales Price
$600,000 $0.53M
Seaside
$0.51M
$450,000
Q1
Q2
2017 2018
$300,000
Q3
2017 Median 2018 Median
Closed Sales by Quarter & Days on Market
$150,000
70
52.5
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price
35
17.5
Number of Sales vs Days on Market 200 Q1
Q2
2017 2018
Q3
2017 Days on Market 2018 Days on Market
150 Closed Sales Volume by Quarter
$36M
100 $27M
831.624.2300 montereycoastrealty.com
$18M
50
Dolores and Seventh Carmel-by-the-Sea
$9M
2013
2014 Days on Market
2015
2016
2017
Number of Sales
Q1
Q2 2017
Q3 2018
Q3 2018 MARKET REPORT
Marina
$610,679 Average Selling Price
8%
vs Q3 2017
59
Units Sold
About Marina
M
arina remains a strong market with sales up over 25% over Q3 last year. It took an average of 36 days to sell a property in Marina and properties are in short supply. There is only 1.4 months of available inventory currently on the market. 88% of the sales are in the $400-800K range. 2018 YTD Sales by Segment
33
7% 5%
Active Listings
6% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs Q2
41%
47%
1.4
Months of Inventory
44%
vs Q2
>$ 400k $400-600k $600-800k $800k-1M
Average vs Median Sales Price by Quarter
Q3 2018
$0.7M
MARKET REPORT
$0.53M
Average vs Median Sales Price
$600,000 $0.35M
Marina
$0.18M
$450,000
Q1
Q2
2017 2018
$300,000
Q3
2017 Median 2018 Median
Closed Sales by Quarter & Days on Market
$150,000
60
45
2013
2014
2015
Average Sale Price
2016
2017
Median Sale Price
30
15
Number of Sales vs Days on Market 180 Q1
Q2
2017 2018
Q3
2017 Days on Market 2018 Days on Market
135 Closed Sales Volume by Quarter
$40M
90 $30M
831.624.2300 montereycoastrealty.com
$20M
45
Dolores and Seventh Carmel-by-the-Sea
$10M
2013
2014 Days on Market
2015
2016
2017
Number of Sales
Q1
Q2 2017
Q3 2018