Carmel | Web ID: 0474391
Monterey Peninsula Market Update First Quarter 2016 MONTEREY PENINSULA BROKERAGES Carmel Rancho Brokerage | t. 831.624.1566 Carmel Valley Brokerage | t. 831.659.2267 Carmel-by-the-Sea Brokerage | t. 831.624.1566 Pacific Grove Brokerage | t. 831.372.7700 Monterra Ranch Brokerage | t.831.625.2075
sothebyshomes.com All data within this document is pulled from the Monterey Peninsula MLS. Areas include the Monterey Peninsula.
Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.
A MESSAGE FROM OUR MANAGER: Janet Reilly I am pleased to provide a summary of sales activity for the Monterey Peninsula real estate market during the first quarter of 2016. MLSListings.com reports the following Q1 2016 over Q1 2015 statistics: There were 247 units sold on the Monterey Peninsula with an average of 70 days on the market. Of particular interest in Q1 2016: • The Average List Price was the highest it has been in over five years • The Average Sale Price was up 15% over Q1 2015 • The discount ratio is the most favorable it has been in over five years at 91% These positive trends bode well for home sellers on the Monterey Peninsula. If you are thinking of selling your home, now is a great time to take advantage of the market.
FEATURED LISTINGS
CARMEL | Web ID: 0474423 | $5,250,000 Gin Weathers, Charlotte Gannaway, Benjamin Zoller 831.594.4752
MONTEREY/SALINAS HIGHWAY | Web ID: 0474434 | $3,575,000 Vilia Kakis Gilles 831.760.7091
CARMEL | Web ID: 0474432 | $2,395,000 Mark Trapin, Robin Anderson 831.601.4934
PEBBLE BEACH | Web ID: 0474421 | $4,495,000 Bowhay Gladney Randazzo 831.214.2250
SERVING MONTEREY PENINSULA
FIVE YEARS OF AVERAGE SELLING PRICES | Q1
$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012
2013
2014
2015
2016
Average Selling Price
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
MONTEREY PENINSULA Located on the central California coast, the beautiful Monterey Peninsula offers great living in some of the most desirable areas, including:
$1,400,000
350
$1,200,000
300
$1,000,000
250
$800,000
200
$600,000
150
$400,000
100
$200,000
50
$-
Big Sur, Carmel, Carmel Highlands, Carmel Valley, Monterey, Pacific Grove, Pebble Beach and Monterey/Salinas Highway.
SINGLE FAMILY HOMES | Q1 UNITS SOLD
0 2012
2013
2014
2015
Average Selling Price
2012
2013
2014
2016
Units Sold
2015
2016
281
331
231
262
247
AVERAGE SELLING PRICE
$779,720
$893,017
$1,091,434
$972,760
$1,153,683
AVERAGE LISTING PRICE
$963,922
$989,891
$1,231,339
$1,090,019
$1,263,745
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
81%
90%
89%
89%
91%
$555,000
$740,000
$790,000
$739,500
$909,460
133
110
106
108
70
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
2.5
$2,000,000
2
$1,500,000
BIG SUR
1.5
$1,000,000
South of Carmel lies Big Sur, nearly 100 miles of pristine, rugged coastline, where the Santa Lucia Mountains rise precipitously from the Pacific
1
$500,000
0.5 0
$2012
Ocean, creating some of the most spectacular views and iconic imagery in America. Big Sur is
2013
2014
Average Selling Price
2015
2016
Units Sold
best known for its natural untouched beauty.
SINGLE FAMILY HOMES | Q1
2012
UNITS SOLD
2013
2014
2015
2016
1
2
1
0
2
AVERAGE SELLING PRICE
$985,000
$1,196,250
$1,650,000
$-
$1,805,000
AVERAGE LISTING PRICE
$1,750,000
$2,037,500
$1,995,000
$-
$2,372,000
DISCOUNT RATIO MEDIAN
56%
59%
83%
n/a
76%
$985,000
$1,196,250
$1,650,000
$-
$1,805,000
410
981
373
-
242
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
120
$2,000,000
100
$1,500,000
CARMEL
80 60
$1,000,000
Carmel was founded as an enclave for artists around the turn of the century and remains true to its bohemian roots today. With its idyllic location, its pristine beaches and a village with first-rate
0 2012
2012
2013
2014
Average Selling Price
haven for visitors and locals alike.
UNITS SOLD
20
$-
dining, shopping and charming inns, Carmel is a
SINGLE FAMILY HOMES | Q1
40
$500,000
2013
2014
2015
2016
Units Sold
2015
2016
56
104
63
52
67
AVERAGE SELLING PRICE
$1,184,639
$1,451,820
$1,648,978
$1,659,558
$1,832,212
AVERAGE LISTING PRICE
$1,468,998
$1,590,267
$1,880,821
$1,827,779
$2,067,055
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
81%
91%
88%
91%
89%
$850,000
$1,162,000
$1,276,700
$1,237,500
$1,328,000
148
124
133
109
83
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
CARMEL HIGHLANDS A few short miles south of Carmel, along the winding Pacific Coast Highway, are the Carmel Highlands. Homes in the Highlands sit above the
7
$8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-
6 5 4 3 2 1 0 2012
sea, and from their sheltered perch, many have enviable views of the dramatic and ever-changing
2013
2014
Average Selling Price
2015
2016
Units Sold
coastline.
SINGLE FAMILY HOMES | Q1
2012
UNITS SOLD
2013
2014
2015
2016
3
2
1
6
4
AVERAGE SELLING PRICE
$2,491,667
$1,175,000
$6,700,000
$2,732,500
$1,906,500
AVERAGE LISTING PRICE
$3,678,333
$1,264,500
$7,495,000
$3,253,000
$2,139,500
DISCOUNT RATIO MEDIAN
68%
93%
89%
84%
89%
$2,275,000
$1,175,000
$6,700,000
$1,700,000
$2,143,500
258
485
345
209
57
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
CARMEL VALLEY
$900,000
30
$850,000
25 20
$800,000
15
$750,000
Just east of Carmel and beyond the “fog line” is Carmel Valley, a sun-soaked region nestled
$700,000
between lush green mountains. Ranch-style
$650,000
10 5 0 2012
homes, vineyards, ranches, horse properties and country club real estate are enhanced by the
2013
2014
Average Selling Price
2015
2016
Units Sold
numerous golf courses and wineries.
SINGLE FAMILY HOMES | Q1 UNITS SOLD
2012
2013
2014
2015
2016
16
22
16
21
27
AVERAGE SELLING PRICE
$722,250
$777,640
$865,563
$822,748
$823,307
AVERAGE LISTING PRICE
$796,556
$901,536
$981,875
$920,733
$838,815
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
91%
86%
88%
89%
98%
$560,500
$727,500
$792,000
$810,000
$819,000
110
149
118
142
56
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
MONTEREY Monterey is the geographical and social center of the Peninsula. Its remarkable waterfront lies along Monterey Bay National Marine Sanctuary.
80 70 60 50 40 30 20 10 0
$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $2012
Fisherman’s Wharf, Cannery Row and the famous Monterey Bay Aquarium stretch along the vibrant
2013
2014
Average Selling Price
2015
2016
Units Sold
waterfront.
SINGLE FAMILY HOMES | Q1
2012
UNITS SOLD
2013
2014
2015
2016
71
69
50
71
49
AVERAGE SELLING PRICE
$536,301
$543,743
$639,798
$681,662
$642,593
AVERAGE LISTING PRICE
$633,023
$587,369
$677,413
$739,922
$667,143
DISCOUNT RATIO MEDIAN
85%
93%
94%
92%
96%
$442,000
$480,000
$575,000
$592,000
$630,000
96
92
80
107
48
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
MONTEREY / SALINAS HIGHWAY
$1,000,000
60
$800,000
50 40
$600,000
30
$400,000
20
$200,000
Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city in Monterey
10 0
$2012
County. Situated in the lush and fertile Salinas
2013
2014
Average Selling Price
Valley, known as the Salad Bowl of America,Salinas
2015
2016
Units Sold
has a thriving agricultural economy.
SINGLE FAMILY HOMES | Q1 UNITS SOLD
2012
2013
2014
2015
2016
47
53
32
52
36
AVERAGE SELLING PRICE
$670,164
$683,991
$691,513
$744,196
$826,285
AVERAGE LISTING PRICE
$782,425
$754,538
$725,803
$809,615
$897,214
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
86%
91%
95%
92%
92%
$510,000
$512,000
$627,500
$637,500
$653,750
137
77
75
102
65
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
PACIFIC GROVE
$1,000,000
60
$800,000
50 40
$600,000
Popularly known as America’s Last Home Town, Pacific Grove possesses a quaint and quiet charm all its own. Famous for its numerous Victorian-
30
$400,000
20
$200,000
10 0
$2012
style homes, Pacific Grove has a rich architectural history, apparent in its old-style downtown.
SINGLE FAMILY HOMES | Q1
2013
2014
Average Selling Price
2012
UNITS SOLD
2013
2014
2015
2016
Units Sold
2015
2016
51
42
37
35
33
AVERAGE SELLING PRICE
$563,475
$689,402
$729,900
$908,081
$839,685
AVERAGE LISTING PRICE
$655,563
$734,072
$779,372
$959,764
$905,750
DISCOUNT RATIO MEDIAN
86%
94%
94%
95%
93%
$511,225
$627,500
$695,000
$815,000
$790,550
110
74
75
62
56
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
40 35 30 25 20 15 10 5 0
$2,500,000 $2,000,000
PEBBLE BEACH
$1,500,000
Pebble Beach is a prestigious community world renowned for its unparalleled golf. Boasting seven courses within its gates, it is most notable for the
$1,000,000 $500,000 $2012
Pebble Beach Golf Links, which is considered by many to be the best public course in the world.
SINGLE FAMILY HOMES | Q1 UNITS SOLD
2013
2014
Average Selling Price
2012
2013
2014
2015
2016
Units Sold
2015
2016
36
37
31
25
29
AVERAGE SELLING PRICE
$1,739,082
$1,305,125
$2,296,399
$1,875,571
$2,298,731
AVERAGE LISTING PRICE
$2,241,508
$1,475,007
$2,673,287
$2,243,712
$2,476,103
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
78%
88%
86%
84%
93%
$1,137,500
$1,046,000
$1,523,000
$1,500,000
$1,700,000
204
100
140
138
99
sothebyshomes.com/monterey
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 00110660 | $3,000,000 SAN FRANCISCO, CA | Web: 0087754 | $3,298,000 LOS ANGELES, CA | Web: 0308615 | $3,195,000 RESORT MARKETS SAINT HELENA, CA | Web: 0243934 | $3,550,000 EAST HAMPTON, NY | Web: 0043063 | $3,500,000 MONTECITO, CA | Web: 0632458 | $3,195,000 FOREIGN MARKETS GERMANY | Web: VHZHL2 | $3,853,027 CANADA | Web: X3PBBL | $3,727,410 THAILAND | Web: SMRD4M | $3,828,158 sothebysrealty.com
SERVING MONTEREY PENINSULA