Carmel Highlands | Web ID: 0474849
Monterey Peninsula Market Update Second 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 second quarter of 2017. According to MLSListings.com, there were 366 units sold on the Monterey Peninsula with an average of 64 days on the market. Of particular interest in Q2 2017: • Carmel Highlands units were up 20% compared to last year from five units in Q2 2016 to six units in Q2 2017 • The average sales price in The Highlands was up 60% from $2.12M in Q2 2016 to $3.4M in Q2 2017 • Monterey units were up 12.9 % compared to Q2 last 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
CARMEL HIGHLANDS | Web ID: 0474670 | $7,499,000 Tina Carpenter 831.521.0231, Aimee Darby 831.224.1953
CARMEL VALLEY | Web ID: 0474879 | $5,750,000 Sam Piffero 831.236.5389, Aisha Krechuniak 831.595.9291
CARMEL VALLEY | Web ID: 0474871 | $3,195,000 Mike Canning, Jessica Canning & Nic Canning 831.596.1171
CARMEL VALLEY | Web ID: 0474836 | $2,995,000 Doug & Lisa Steiny 831.236.7363
SERVING MONTEREY PENINSULA
FIVE YEARS OF AVERAGE SELLING PRICES | Q2
$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-
2013
2014
2015
2016
2017
Average Selling Price
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$1,200,000 $1,000,000 $800,000
MONTEREY PENINSULA
$600,000
Located on the central California coast, the
$400,000
beautiful Monterey Peninsula offers great living
$200,000
in some of the most desirable areas, including:
$-
Big Sur, Carmel, Carmel Highlands, Carmel
2013
Valley, Monterey, Pacific Grove, Pebble Beach and Monterey/Salinas Highway.
SINGLE FAMILY HOMES | Q2 UNITS SOLD
2014
2015
Average Selling Price
2013
2014
2015
2016
2017
370 365 360 355 350 345 340 335 330 325 320
Units Sold
2016
2017
364
347
338
362
366
AVERAGE SELLING PRICE
$871,711
$992,776
$1,012,085
$1,031,617
$1,079,804
AVERAGE LISTING PRICE
$955,463
$1,102,866
$1,099,100
$1,131,129
$1,195,202
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
91%
90%
92%
91%
90%
$669,500
$787,000
$825,000
$950,000
$949,500
90
88
82
63
64
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$1,400,000
BIG SUR
3.5
$1,200,000
3
$1,000,000
2.5
$800,000
2
South of Carmel lies Big Sur, nearly 100 miles of
$600,000
1.5
pristine, rugged coastline, where the Santa Lucia
$400,000
1
Mountains rise precipitously from the Pacific
$200,000
0.5
$-
Ocean, creating some of the most spectacular
2013
views and iconic imagery in America. Big Sur is best known for its natural untouched beauty.
SINGLE FAMILY HOMES | Q2
2014
2015
Average Selling Price
2013
UNITS SOLD
2014
2015
2016
0
2017
Units Sold
2016
2017
3
1
1
3
2
AVERAGE SELLING PRICE
$901,333
$1,200,000
$625,000
$1,201,667
$1,317,500
AVERAGE LISTING PRICE
$1,260,333
$1,200,000
$825,000
$1,249,667
$3,272,000
DISCOUNT RATIO MEDIAN
72%
100%
76%
96%
40%
$900,000
$1,200,000
$625,000
$1,175,000
$1,317,500
242
27
103
60
387
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$2,000,000
100 80
$1,500,000
CARMEL
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,
40
$500,000
20
$-
2013
its pristine beaches and a village with first-rate dining, shopping and charming inns, Carmel is a
2014
2015
Average Selling Price
2016
2017
0
Units Sold
haven for visitors and locals alike.
SINGLE FAMILY HOMES | Q2 UNITS SOLD
2013
2014
2015
2016
2017
81
74
69
63
64
AVERAGE SELLING PRICE
$1,487,771
$1,495,218
$1,514,479
$1,829,975
$1,717,611
AVERAGE LISTING PRICE
$1,640,825
$1,602,919
$1,651,948
$2,029,889
$1,909,186
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
91%
93%
92%
90%
90%
$1,200,000
$1,247,500
$1,100,000
$1,355,000
$1,406,900
113
103
101
75
79
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$4,000,000
7 6
$3,000,000
CARMEL HIGHLANDS
5 4
$2,000,000
A few short miles south of Carmel, along the
3 2
$1,000,000
winding Pacific Coast Highway, are the Carmel Highlands. Homes in the Highlands sit above the
1
$-
2013
sea, and from their sheltered perch, many have enviable views of the dramatic and ever-changing
2014
2015
Average Selling Price
2016
2017
0
Units Sold
coastline.
SINGLE FAMILY HOMES | Q2
2013
UNITS SOLD
2014
2015
2016
2017
4
3
3
5
6
AVERAGE SELLING PRICE
$2,135,000
$2,477,034
$3,808,333
$2,124,600
$3,399,633
AVERAGE LISTING PRICE
$2,447,875
$3,781,333
$4,390,000
$2,567,000
$3,922,500
DISCOUNT RATIO MEDIAN
87%
66%
87%
83%
87%
$1,987,500
$2,743,602
$2,925,000
$2,338,000
$3,130,148
197
412
360
100
135
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$1,400,000
80
$1,200,000
60
$1,000,000
CARMEL VALLEY
$800,000
40
$600,000
Just east of Carmel and beyond the “fog line”
$400,000
is Carmel Valley, a sun-soaked region nestled
20
$200,000
between lush green mountains. Ranch-style homes, vineyards, ranches, horse properties and
$-
2013
country club real estate are enhanced by the
2014
2015
Average Selling Price
2016
2017
0
Units Sold
numerous golf courses and wineries.
SINGLE FAMILY HOMES | Q2 UNITS SOLD
2013
2014
2015
2016
2017
63
63
57
74
68
AVERAGE SELLING PRICE
$797,913
$975,366
$1,066,697
$1,320,003
$1,205,035
AVERAGE LISTING PRICE
$858,987
$1,058,441
$1,150,860
$1,478,228
$1,368,397
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
93%
92%
93%
89%
88%
$695,000
$770,000
$875,000
$1,037,500
$1,000,000
100
84
105
83
83
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$800,000
100 80
$600,000
MONTEREY
$400,000
Monterey is the geographical and social center
$200,000
of the Peninsula. Its remarkable waterfront lies along Monterey Bay National Marine Sanctuary.
60 40 20
$-
2013
Fisherman’s Wharf, Cannery Row and the famous
2014
2015
Average Selling Price
Monterey Bay Aquarium stretch along the vibrant
2016
2017
0
Units Sold
waterfront.
SINGLE FAMILY HOMES | Q2
2013
UNITS SOLD
2014
2015
2016
2017
75
72
64
70
79
AVERAGE SELLING PRICE
$543,645
$694,196
$645,777
$681,043
$693,354
AVERAGE LISTING PRICE
$566,252
$732,965
$665,601
$702,933
$730,744
DISCOUNT RATIO MEDIAN
96%
95%
97%
97%
95%
$545,000
$595,000
$612,500
$662,500
$700,000
50
63
55
37
44
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$1,200,000
70
$1,000,000
60 50
$800,000
MONTEREY / SALINAS HIGHWAY
40
$600,000
30
$400,000
Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city in Monterey
20
$200,000
10
$-
2013
County. Situated in the lush and fertile Salinas
2014
2015
Average Selling Price
Valley, known as the Salad Bowl of America,Salinas
2016
2017
Units Sold
has a thriving agricultural economy.
SINGLE FAMILY HOMES | Q2 UNITS SOLD
2013
2014
2015
2016
2017
65
48
54
55
58
AVERAGE SELLING PRICE
$697,244
$888,402
$867,504
$843,002
$1,020,986
AVERAGE LISTING PRICE
$745,179
$954,893
$913,674
$874,974
$1,080,542
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
94%
93%
95%
96%
94%
$585,000
$722,500
$664,000
$712,000
$793,750
78
77
80
47
48
0
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$1,200,000
65
$1,000,000
60
$800,000
PACIFIC GROVE
$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 Victorian-
55 50
$-
2013
style homes, Pacific Grove has a rich architectural
2015
Average Selling Price
history, apparent in its old-style downtown.
SINGLE FAMILY HOMES | Q2
2014
2013
UNITS SOLD
2014
2015
2016
2017
Units Sold
2016
2017
51
53
56
60
55
AVERAGE SELLING PRICE
$715,318
$916,712
$845,375
$932,016
$994,992
AVERAGE LISTING PRICE
$740,533
$1,002,896
$868,875
$977,985
$1,047,212
DISCOUNT RATIO MEDIAN
97%
91%
97%
95%
95%
$645,000
$699,000
$762,500
$844,500
$899,000
65
70
44
47
38
AVERAGE DAYS ON MARKET
45
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$2,500,000
40
$2,000,000
PEBBLE BEACH
30
$1,500,000
Pebble Beach is a prestigious community world renowned for its unparalleled golf. Boasting seven
$500,000
courses within its gates, it is most notable for the
$-
Pebble Beach Golf Links, which is considered by
20
$1,000,000
10
2013
many to be the best public course in the world.
SINGLE FAMILY HOMES | Q2 UNITS SOLD
2014
2015
Average Selling Price
2013
2014
2015
2016
2017
Units Sold
2016
2017
22
33
34
32
34
AVERAGE SELLING PRICE
$2,203,242
$2,128,058
$2,226,872
$1,602,450
$1,921,148
AVERAGE LISTING PRICE
$2,524,864
$2,583,073
$2,503,279
$1,790,809
$2,078,785
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
0
87%
82%
89%
89%
92%
$1,117,000
$1,425,000
$1,348,750
$1,319,594
$1,670,000
177
134
98
96
80
sothebyshomes.com/monterey
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 00111284 | $5,995,000 BEVERLY HILLS, CA | Web: 0286999 | $5,695,000 SAN FRANCISCO, CA | Web: 0088526 | $4,990,000 RESORT MARKETS MONTECITO, CA | Web: 0632579 | $5,595,000 HAMPTONS, NY | Web: 0047500 | $5,995,000 SONOMA, CA | Web: 0244217 | $6,475,000 FOREIGN MARKETS ABU DHABI | Web: 64FS44 | Price Upon Request SWITZERLAND | Web: V2LNMQ | 5’500’000 CHF GREECE | Web: TCVKMZ | 4.800.000 € EUR sothebysrealty.com
SERVING MONTEREY PENINSULA