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
BIG SUR AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
ABOUT THE AREA South of Carmel lies Big Sur, nearly 100 miles of pristine, rugged coastline, where the Santa Lucia Mountains rise precipitously from the Pacific Ocean, creating some of the most spectacular views and
$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-
3.5 3 2.5 2 1.5 1 0.5 0 2009
2010
iconic imagery in America. Big Sur is best known for
Average Selling Price
its natural untouched beauty. SINGLE FAMILY HOMES | Q4
2011
2012
2013
Units Sold
2009
2010
2011
2012
2013
1
0
3
2
1
Average Selling Price
$950,000
$-
$628,333
$3,750,000
$400,000
Average Listing Price
$995,000
$-
$716,333
$4,450,000
$512,900
95%
n/a
88%
84%
78%
$950,000
$-
$425,000
$3,750,000
$400,000
188
-
158
328
77
Units Sold
Discount Ratio Median Average Days on Market
CARMEL AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$2,000,000
60 50
$1,500,000
ABOUT THE AREA Carmel was founded as an enclave for artists around the turn of the century and remains
40
$1,000,000
30 20
$500,000
true to its bohemian roots today. With its idyllic
10
$-
location, its pristine beaches and a village with
0 2009
first-rate dining, shopping and charming inns,
2011
Average Selling Price
Carmel is a haven for visitors and locals alike. SINGLE FAMILY HOMES | Q4
2010
2012
2013
Units Sold
2009
2010
2011
2012
2013
46
50
50
39
45
Average Selling Price
$1,431,739
$1,423,282
$1,190,658
$1,379,973
$1,728,056
Average Listing Price
$1,609,898
$1,604,934
$1,279,268
$1,498,703
$1,831,791
89%
89%
93%
92%
94%
$1,200,000
$1,010,000
$916,250
$1,119,000
$1,280,000
155
158
122
125
143
Units Sold
Discount Ratio Median Average Days on Market
SERVING THE MONTEREY PENINSULA
CARMEL HIGHLANDS AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$2,500,000
5
$2,000,000
4
$1,500,000
3
$1,000,000
2
$500,000
1
$-
0 2009
2010
2011
Average Selling Price
SINGLE FAMILY HOMES | Q4
2012
2013
ABOUT THE AREA A few short miles south of Carmel, along the winding Pacific Coast Highway, are the Carmel Highlands. Homes in the Highlands sit above the sea, and from their sheltered perch, many have enviable views of the dramatic and ever-changing
Units Sold
coastline.
2009
2010
2011
2012
2013
4
4
2
4
0
Average Selling Price
$2,272,500
$2,073,750
$1,001,000
$1,898,750
$-
Average Listing Price
$2,471,250
$2,645,500
$1,015,000
$2,208,750
$-
92%
78%
99%
86%
n/a
$1,387,500
$1,842,500
$1,001,000
$1,025,000
$-
289
303
144
93
-
Units Sold
Discount Ratio Median Average Days on Market
CARMEL VALLEY AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-
40 35 30 25 20 15 10 5 0 2009
2010
2011
Average Selling Price
SINGLE FAMILY HOMES | Q4
2012
2013
ABOUT THE AREA Just east of Carmel and beyond the “fog line” is Carmel Valley, a sun-soaked region nestled between lush green mountains. Ranch-style homes, vineyards, ranches, horse properties and country club real estate are enhanced by the
Units Sold
numerous golf courses and wineries.
2009
2010
2011
2012
2013
23
33
35
25
33
Average Selling Price
$1,055,052
$763,508
$814,772
$1,296,522
$1,373,033
Average Listing Price
$1,241,865
$823,191
$863,571
$1,448,480
$1,479,561
85%
93%
94%
90%
93%
$759,700
$740,000
$645,000
$963,000
$1,198,000
146
127
137
120
112
Units Sold
Discount Ratio Median Average Days on Market
sothebyshomes.com/monterey
MONTEREY AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$700,000
50
$600,000
40
$500,000
ABOUT THE AREA Monterey is the geographical and social center of the Peninsula. Its remarkable waterfront lies along Monterey Bay National Marine Sanctuary.
$400,000
30
$300,000
20
$200,000
10
$100,000 $-
Fisherman’s Wharf, Cannery Row and the famous
0 2009
2010
Monterey Bay Aquarium stretch along the
Average Selling Price
vibrant waterfront. SINGLE FAMILY HOMES | Q4
2011
2012
2013
Units Sold
2009
2010
2011
2012
2013
33
28
38
34
40
Average Selling Price
$553,761
$551,536
$486,544
$575,643
$639,961
Average Listing Price
$583,633
$583,821
$514,470
$594,388
$656,945
95%
94%
95%
97%
97%
$525,000
$480,000
$451,500
$487,500
$598,500
87
118
137
111
68
Units Sold
Discount Ratio Median Average Days on Market
MONTEREY/SALINAS HIGHWAY AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$1,000,000
60
$800,000
50 40
$600,000
ABOUT THE AREA Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city
30
$400,000
20
$200,000
in Monterey County. Situated in the lush and
10
$-
fertile Salinas Valley, known as the Salad Bowl
0 2009
of America,Salinas has a thriving agricultural
2011
Average Selling Price
economy. SINGLE FAMILY HOMES | Q4
2010
2012
2013
Units Sold
2009
2010
2011
2012
2013
48
46
54
36
49
Average Selling Price
$626,256
$783,927
$665,518
$636,819
$864,552
Average Listing Price
$651,869
$829,192
$710,934
$658,166
$908,407
96%
95%
94%
97%
95%
$527,500
$614,950
$498,308
$507,500
$725,000
125
204
131
103
104
Units Sold
Discount Ratio Median Average Days on Market
SERVING THE MONTEREY PENINSULA
PACIFIC GROVE AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$1,000,000
50
$800,000
40
$600,000
30
$400,000
20
$200,000
10
$-
0 2009
2010
2011
Average Selling Price
SINGLE FAMILY HOMES | Q4
2012
2013
ABOUT THE AREA Popularly known as America’s Last Home Town, Pacific Grove possesses a quaint and quiet charm all its own. Famous for its numerous Victorian-style homes, Pacific Grove has a rich architectural history, apparent in its old-style
Units Sold
downtown.
2009
2010
2011
2012
2013
41
28
44
29
36
Average Selling Price
$790,198
$670,221
$539,562
$696,591
$902,564
Average Listing Price
$828,323
$701,621
$572,199
$720,102
$944,914
95%
96%
94%
97%
96%
$673,980
$595,338
$482,000
$650,000
$711,450
93
92
96
91
87
Units Sold
Discount Ratio Median Average Days on Market
PEBBLE BEACH AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$2,500,000
25
$2,000,000
20
$1,500,000
15
$1,000,000
10
$500,000
5
$-
0 2009
2010
2011
Average Selling Price
SINGLE FAMILY HOMES | Q4
2012
2013
ABOUT THE AREA Pebble Beach is a prestigious community world renowned for its unparalleled golf. Boasting seven courses within its gates, it is most notable for the Pebble Beach Golf Links, which is considered by many to be the best public course
Units Sold
in the world.
2009
2010
2011
2012
2013
16
10
23
22
22
Average Selling Price
$1,649,133
$2,249,670
$1,907,630
$1,676,191
$1,614,094
Average Listing Price
$1,875,313
$2,408,390
$2,095,739
$1,880,723
$1,735,314
88%
93%
91%
89%
93%
$1,122,500
$1,843,000
$950,000
$1,032,500
$1,177,725
139
300
167
182
135
Units Sold
Discount Ratio Median Average Days on Market
sothebyshomes.com/monterey
ON THE MARKET FEATURED PROPERTIES
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE
CARMEL, CA
IN METROPOLITAN MARKETS
Price: $5,495,000 Agents: Gin Weathers, Charlotte Gannaway 831.594.4752
HOUSTON, SUGAR LAND
NEW YORK
LOS ANGELES
5 br / 5 ba / 2 hf ba $4,950,000
3 br / 2 ba / 1 hf ba $5,350,000
6 br / 9 ba $5,800,000
Exquisite gated estate home in prestigious Hatton Fields on .75 acre. Completed in 2008 with antique French fixtures & materials encompass this nearly 5,000 square feet one level home. Belgian White Oak floors, spacious rooms include formal dining, club room, playroom, and grand living room opening to heated loggia fitted with radiant heat floors, tv and fireplace. WEB: 0473593
IN RESORT MARKETS
SANTA FE
PALM BEACH
VENTURA
5 br / 5 ba / 2 hf ba $4,800,000
3 br / 4 ba / 1 hf ba $4,700,000
5 br / 4 ba $5,195,000
CARMEL, CA
IN FOREIGN MARKETS
SOUTH AFRICA
PUERTO RICO
AUSTRALIA
6 br / 6 ba $5,186,242
5 br / 5 ba / 2 hf ba $4,400,000
5 br / 4 ba / 1 hf ba Price Upon Request
Price: $6,250,000 Agent: Nicole Truszkowski 831.238.7449 “Maison Parfait is an exquisite ocean view estate sure to capture your imagination. This 5507 square foot home radiates an ambiance of Old-World solidity & permanence, with European Country Flair. The property showcases 2.5 acres of perfectly landscaped & manicured grounds surrounded by a native forest with the Pacific Ocean as a backdrop. WEB: 0473644
AT SOTHEBY’S AUCTION
SONGYE “FOUR HORN” COMMUNITY POWER FIGURE The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000
THE PINK STAR Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30
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