Carmel Highlands | Web ID: 0501523
Monterey Peninsula Market Update First Quarter 2017 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 2017. MLSListings.com reports the following Q1 2017 over Q1 2016 statistics: There were 266 units sold on the Monterey Peninsula with an average of 83 days on the market. Of particular interest in Q1 2017: • Carmel Valley units are up 44% compared to last year • Pacific Grove units are up 30% compared to prior year • Monterey/Salinas Highway units are up 28% compared to prior year 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
PEBBLE BEACH | Web ID: 0474706 | $12,000,000 Vilia Kakis Gilles 831.760.7091
PEBBLE BEACH | Web ID: 0474728 | $8,500,000 Michele Altman 831.214.2545
CARMEL VALLEY | Web ID: 0501537 | $6,200,000 Laura & Kent Ciucci 831.236.8571, Skip Marquard 831.594.0643
PEBBLE BEACH | Web ID: 0474598 | $9,750,000 Mike Jashinski 831.236.8913
SERVING MONTEREY PENINSULA
FIVE YEARS OF AVERAGE SELLING PRICES | Q1
$1,4 00,000 $1,2 00,000 $1,0 00,000 $800,000 $600,000 $400,000 $200,000 $2013
2014
2015
2016
2017
Average Selling Price
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
$1,4 00,000
350
$1,2 00,000
300
$1,0 00,000
250
$800,000
200
$600,000
150
beautiful Monterey Peninsula offers great living
$400,000
100
in some of the most desirable areas, including:
$200,000
50
MONTEREY PENINSULA Located on the central California coast, the
Big Sur, Carmel, Carmel Highlands, Carmel
$-
0
Valley, Monterey, Pacific Grove, Pebble Beach and
2013
Monterey/Salinas Highway.
SINGLE FAMILY HOMES | Q1 UNITS SOLD
2014
2015
Average Selling Price
2013
2014
2015
2016
2017
Units Sold
2016
2017
305
251
293
242
266
AVERAGE SELLING PRICE
$799,180
$1,069,720
$979,856
$1,183,776
$1,102,956
AVERAGE LISTING PRICE
$894,458
$1,217,571
$1,090,508
$1,296,872
$1,234,292
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
89%
88%
90%
91%
89%
$655,000
$777,500
$715,000
$900,000
$912,500
107
104
101
69
83
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
$3,500,000
4
$3,000,000
3
$2,500,000
BIG SUR
$2,000,000
South of Carmel lies Big Sur, nearly 100 miles of pristine, rugged coastline, where the Santa Lucia Mountains rise precipitously from the Pacific
2
$1,500,000 $1,000,000
1
$500,000 $-
Ocean, creating some of the most spectacular
2013
views and iconic imagery in America. Big Sur is
2013
UNITS SOLD
2015
2016
Average Selling Price
best known for its natural untouched beauty.
SINGLE FAMILY HOMES | Q1
2014
2014
2017
Units Sold
2015
2016
2017
2
1
0
2
3
AVERAGE SELLING PRICE
$1,196,250
$1,650,000
$-
$1,805,000
$2,870,833
AVERAGE LISTING PRICE
$2,037,500
$1,995,000
$-
$2,372,000
$3,456,667
DISCOUNT RATIO MEDIAN
59%
83%
n/a
76%
83%
$1,196,250
$1,650,000
$-
$1,805,000
$2,400,000
981
373
-
242
236
AVERAGE DAYS ON MARKET
0
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
$2,5 00,000
70 60
$2,0 00,000
50
CARMEL
$1,5 00,000
40
Carmel was founded as an enclave for artists
$1,0 00,000
30
around the turn of the century and remains true to its bohemian roots today. With its idyllic location,
20
$500,000
10
$-
its pristine beaches and a village with first-rate
0 2013
dining, shopping and charming inns, Carmel is a haven for visitors and locals alike.
SINGLE FAMILY HOMES | Q1 UNITS SOLD
2014
2015
2016
Average Selling Price
2013
2014
2015
2017
Units Sold
2016
2017
52
63
52
62
60
AVERAGE SELLING PRICE
$1,451,820
$1,648,978
$1,659,558
$2,004,390
$1,938,275
AVERAGE LISTING PRICE
$1,590,267
$1,880,821
$1,827,779
$2,261,140
$2,168,842
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
91%
88%
91%
89%
89%
$1,162,000
$1,276,700
$1,237,500
$1,314,000
$1,492,500
124
133
109
83
105
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 sea, and from their sheltered perch, many have
$8,0 00,000 $7,0 00,000 $6,0 00,000 $5,0 00,000 $4,0 00,000 $3,0 00,000 $2,0 00,000 $1,0 00,000 $-
13 12 11 10 9 8 7 6 5 4 3 2 1 0 2013
enviable views of the dramatic and ever-changing coastline.
2014
2015
2016
Average Selling Price
SINGLE FAMILY HOMES | Q1
2013
UNITS SOLD
2014
2017
Units Sold
2015
2016
2017
8
1
12
4
2
AVERAGE SELLING PRICE
$2,311,063
$6,700,000
$2,468,750
$1,906,500
$1,462,500
AVERAGE LISTING PRICE
$2,959,438
$7,495,000
$2,885,917
$2,139,500
$2,049,500
DISCOUNT RATIO MEDIAN
78%
89%
86%
89%
71%
$1,419,250
$6,700,000
$1,857,500
$2,143,500
$1,462,500
322
345
191
57
93
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
CARMEL VALLEY 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
$1,2 00,000
60
$1,0 00,000
50
$800,000
40
$600,000
30
$400,000
20
$200,000
10 0
$2013
country club real estate are enhanced by the
UNITS SOLD
2015
Average Selling Price
numerous golf courses and wineries.
SINGLE FAMILY HOMES | Q1
2014
2013
2014
2015
2016
2017
Units Sold
2016
2017
49
40
53
27
39
AVERAGE SELLING PRICE
$723,171
$870,063
$868,192
$823,307
$1,067,362
AVERAGE LISTING PRICE
$794,328
$1,043,348
$939,121
$838,815
$1,181,767
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
91%
83%
92%
98%
90%
$658,585
$704,500
$775,000
$819,000
$800,000
114
101
102
56
76
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. Fisherman’s Wharf, Cannery Row and the famous
$700,000
70
$600,000
60
$500,000
50
$400,000
40
$300,000
30
$200,000
20
$100,000
10
$-
0 2013
Monterey Bay Aquarium stretch along the vibrant waterfront.
SINGLE FAMILY HOMES | Q1
2014
2015
Average Selling Price
2013
UNITS SOLD
2014
2015
2016
2017
Units Sold
2016
2017
62
46
64
49
51
AVERAGE SELLING PRICE
$430,779
$595,976
$604,156
$642,593
$663,086
AVERAGE LISTING PRICE
$453,928
$630,818
$639,335
$667,143
$696,163
DISCOUNT RATIO MEDIAN
95%
94%
94%
96%
95%
$443,500
$565,000
$584,950
$630,000
$650,000
85
76
84
48
56
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
MONTEREY / SALINAS HIGHWAY Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city in Monterey County. Situated in the lush and fertile Salinas
$1,2 00,000
60
$1,0 00,000
50
$800,000
40
$600,000
30
$400,000
20
$200,000
10
$-
0 2013
2014
2015
2016
2017
Valley, known as the Salad Bowl of America,Salinas
Average Selling Price
has a thriving agricultural economy.
SINGLE FAMILY HOMES | Q1 UNITS SOLD
2013
2014
2015
Units Sold
2016
2017
53
32
52
36
46
AVERAGE SELLING PRICE
$683,991
$691,513
$744,196
$826,285
$1,003,985
AVERAGE LISTING PRICE
$754,538
$725,803
$809,615
$897,214
$1,121,913
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
91%
95%
92%
92%
89%
$512,000
$627,500
$637,500
$653,750
$752,500
77
75
102
65
69
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
$1,2 00,000
50
$1,0 00,000
40
$800,000
PACIFIC GROVE
30
$600,000
Popularly known as America’s Last Home Town,
$400,000
Pacific Grove possesses a quaint and quiet charm
$200,000
all its own. Famous for its numerous Victorianstyle homes, Pacific Grove has a rich architectural
20 10
$-
0 2013
history, apparent in its old-style downtown.
2014
2015
2016
Average Selling Price
SINGLE FAMILY HOMES | Q1
2013
UNITS SOLD
2014
2017
Units Sold
2015
2016
2017
42
37
35
33
43
AVERAGE SELLING PRICE
$689,402
$729,900
$908,081
$839,685
$1,015,558
AVERAGE LISTING PRICE
$734,072
$779,372
$959,764
$905,750
$1,090,128
DISCOUNT RATIO MEDIAN
94%
94%
95%
93%
93%
$627,500
$695,000
$815,000
$790,550
$915,000
74
75
62
56
80
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
$2,5 00,000
40 35 30 25 20 15 10 5 0
$2,0 00,000
PEBBLE BEACH
$1,5 00,000
Pebble Beach is a prestigious community world
$1,0 00,000
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
$500,000 $2013
many to be the best public course in the world.
2014
2015
2016
Average Selling Price
SINGLE FAMILY HOMES | Q1 UNITS SOLD
2013
2014
2015
2017
Units Sold
2016
2017
37
31
25
29
22
AVERAGE SELLING PRICE
$1,305,125
$2,296,399
$1,875,571
$2,298,731
$1,950,400
AVERAGE LISTING PRICE
$1,475,007
$2,673,287
$2,243,712
$2,476,103
$2,246,855
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
88%
86%
84%
93%
87%
$1,046,000
$1,523,000
$1,500,000
$1,700,000
$1,317,500
100
140
138
99
113
sothebyshomes.com/monterey
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS GREENWICH, CT | Web: 0068439 | $5,195,000 NEW YORK, NY | Web: 0139257 | $5,000,000 SAN FRANCISCO, CA | Web: 0088441 | $4,990,000 RESORT MARKETS PALM BEACH, FL | Web: 0077163 | $5,850,000 MONTECITO, CA | Web: 0114101 | $5,395,000 NAPA VALLEY, CA | Web: 1190523 | $5,300,000 FOREIGN MARKETS BERMUDA | Web: 8CX55H | $5,950,000 AUSTRALIA | Web: N6EJ85 | Price Upon Request FRANCE | Web: 9XY5ZZ | Price Upon Request sothebysrealty.com
SERVING MONTEREY PENINSULA