MARKET UPDATE | Q4 2013 MONTEREY PENINSULA
SIX YEARS OF AVERAGE SELLING PRICES | Q4 | MONTEREY PENINSULA*
$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 A MESSAGE FROM OUR MANAGER: Janet Reilly I am pleased to report that the current MLS data indicates that the positive trends we noted in 2013 continued with another strong quarter for real estate sales in the Monterey Peninsula, ending the year on a high note for many of our communities. Prices of single family homes continued to increase, with average sales prices for single-family homes up 9.1 percent. Carmel, Carmel Valley, Pacific Grove, Monterey and the Monterey Salinas Highway all experienced an increase in averages sales price and units sold.
$200,000 $2008
2009
2010
2011
2012
2013
Average Selling Price
MONTEREY PENINSULA* ABOUT THE AREA Located on the central California coast, the beautiful Monterey Peninsula offers great living in some of the
Particularly strong increases were noted for three of our areas. Carmel saw an increase of 25 percent in average sales price and a 15.4 percent increase in the number of units sold and Pacific Grove had an increase of 29.6 percent in average sales price and an increase of 24 percent in units sold. However, the most significant increase was for homes in Monterey Salinas Highway with a dramatic 35.8 percent increase in average sales price and a 36 percent increase in units sold.
most desirable areas, including: Big Sur, Carmel, Carmel Highlands, Carmel Valley, Monterey, Pacific Grove, Pebble Beach and Monterey/Salinas Highway. AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $1,400,000
300
$1,200,000
250
$1,000,000
200
$800,000
150
$600,000
MONTEREY PENINSULA BROKERAGES
100
$400,000
CARMEL RANCHO BROKERAGE 200 Clocktower Place | 831.624.1566
50
$200,000 $-
CARMEL BY-THE-SEA BROKERAGE Ocean Avenue | 831.624.9700
0 2009
CARMEL VALLEY BROKERAGE 312 W. Carmel Valley Road | 831.659.2267 PACIFIC GROVE BROKERAGE 574 Lighthouse Avenue | 831.372.7700 JANET REILLY, Vice President and Brokerage Manager 831.622.4810 | janet.reilly@sothebyshomes.com sothebyshomes.com/monterey * In this Update, data is for single-family homes. The Monterey Peninsula is defined as the eight areas included in this report. All data within this document is pulled from MLSListings, Inc.
SINGLE FAMILY HOMES | Q4 Units Sold
2010
2011
2012
Average Selling Price
Units Sold
2009
2011
2010
2013
2012
2013
212
199
249
191
226
Average Selling Price
$977,759
$992,067
$859,357
$1,051,841
$1,147,949
Average Listing Price
$1,075,538
$1,086,498
$922,435
$1,144,285
$1,215,719
91%
91%
93%
92%
94%
$726,150
$740,000
$585,000
$745,875
$824,250
126
159
129
121
107
Discount Ratio Median Average Days on Market