Monterey | Web ID: 0474625
Monterey Peninsula Market Update Third 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 third quarter of 2016. MLSListings.com reports the following Q3 2016 over Q3 2015 statistics: There were 347 units sold on the Monterey Peninsula with an average of 72 days on the market. Of particular interest in Q3 2016: • Units are up compared to last year as well as Average Selling Price • Pebble Beach units are up 12.9% compared to prior year • Carmel Valley units are up 10.9% 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
CARMEL VALLEY | Web ID: 0474596 | $995,000 Kathryn Picetti 831.277.6020
CARMEL | Web ID: 0474597 | $1,249,000 Ryan Melcher 831.521.5024
MONTEREY | Web ID: 0474588 | $1,375,000 Jacquie Adams, Lisa Barkalow 831.277.0971
SOLEDAD | Web ID: 0474560 | $1,495,000 Paul Riddolls 831.293.4496
SERVING MONTEREY PENINSULA
FIVE YEARS OF AVERAGE SELLING PRICES | Q3
$1,2 00,000 $1,0 00,000 $800,000 $600,000 $400,000 $200,000 $2012
2013
2014
2015
2016
Average Selling Price
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
$1,2 00,000
350 345 340 335 330 325 320 315 310 305 300
$1,0 00,000 $800,000
MONTEREY PENINSULA
$600,000
Located on the central California coast, the
$400,000
beautiful Monterey Peninsula offers great living in some of the most desirable areas, including:
$200,000 $-
Big Sur, Carmel, Carmel Highlands, Carmel
2012
Valley, Monterey, Pacific Grove, Pebble Beach and Monterey/Salinas Highway.
SINGLE FAMILY HOMES | Q3 UNITS SOLD
2013
2014
Average Selling Price
2012
2013
2014
2015
2016
Units Sold
2015
2016
346
337
318
345
347
AVERAGE SELLING PRICE
$803,262
$939,035
$1,079,835
$1,022,866
$1,134,027
AVERAGE LISTING PRICE
$919,785
$1,021,489
$1,177,670
$1,123,312
$1,263,045
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
87%
92%
92%
91%
90%
$620,000
$745,000
$812,500
$815,000
$868,770
118
91
78
71
72
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
$6,0 00,000
3.5
$5,0 00,000
3 2.5
$4,0 00,000
BIG SUR
2
$3,0 00,000
South of Carmel lies Big Sur, nearly 100 miles of pristine, rugged coastline, where the Santa Lucia Mountains rise precipitously from the Pacific
1.5
$2,0 00,000
1
$1,0 00,000
0.5
$-
Ocean, creating some of the most spectacular
0 2012
views and iconic imagery in America. Big Sur is best known for its natural untouched beauty.
SINGLE FAMILY HOMES | Q3
2013
2014
2015
Average Selling Price
2012
2013
2014
2016
Units Sold
2015
2016
UNITS SOLD
0
2
1
3
0
AVERAGE SELLING PRICE
$-
$3,125,000
$5,250,000
$3,179,167
$-
AVERAGE LISTING PRICE
$-
$3,472,500
$5,800,000
$4,183,333
$-
DISCOUNT RATIO MEDIAN
n/a
90%
91%
76%
n/a
$-
$3,125,000
$5,250,000
$3,137,500
$-
-
171
630
449
-
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
$2,0 00,000
80 70 60 50 40 30 20 10 0
$1,5 00,000
CARMEL
$1,0 00,000
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
$500,000 $2012
dining, shopping and charming inns, Carmel is a haven for visitors and locals alike.
SINGLE FAMILY HOMES | Q3 UNITS SOLD
2013
2014
Average Selling Price
2012
2013
2014
2015
2016
Units Sold
2015
2016
61
65
75
67
69
AVERAGE SELLING PRICE
$1,218,365
$1,362,188
$1,545,337
$1,524,308
$1,485,672
AVERAGE LISTING PRICE
$1,427,541
$1,492,244
$1,688,269
$1,682,154
$1,579,222
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
85%
91%
92%
91%
94%
$960,000
$1,100,000
$1,250,000
$1,200,000
$1,300,000
208
129
85
91
63
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
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 $-
4 3 2 1 0 2012
enviable views of the dramatic and ever-changing coastline.
2013
2014
2015
Average Selling Price
SINGLE FAMILY HOMES | Q3
2012
UNITS SOLD
2013
2014
2016
Units Sold
2015
2016
3
2
1
3
3
AVERAGE SELLING PRICE
$6,932,667
$2,500,000
$900,000
$5,154,167
$2,599,067
AVERAGE LISTING PRICE
$8,633,667
$3,212,000
$1,250,000
$6,700,000
$2,846,667
DISCOUNT RATIO MEDIAN
80%
78%
72%
77%
91%
$9,250,000
$2,500,000
$900,000
$5,812,500
$1,522,200
69
273
13
191
107
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
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
$1,4 00,000
70
$1,2 00,000
60
$1,0 00,000
50
$800,000
40
$600,000
30
$400,000
20
$200,000
10
$-
0 2012
country club real estate are enhanced by the numerous golf courses and wineries.
SINGLE FAMILY HOMES | Q3 UNITS SOLD
2013
2014
Average Selling Price
2012
2013
2014
2015
2016
Units Sold
2015
2016
66
51
52
55
61
AVERAGE SELLING PRICE
$798,447
$922,343
$750,129
$1,041,450
$1,191,901
AVERAGE LISTING PRICE
$896,003
$988,506
$820,487
$1,104,564
$1,260,248
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
89%
93%
91%
94%
95%
$650,000
$715,000
$732,000
$777,000
$950,000
125
73
88
46
86
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
$1,0 00,000
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
100
$800,000
80
$600,000
60
$400,000
40
$200,000
20
$-
0 2012
Monterey Bay Aquarium stretch along the vibrant
2012
UNITS SOLD
2014
Average Selling Price
waterfront.
SINGLE FAMILY HOMES | Q3
2013
2013
2014
2015
2016
Units Sold
2015
2016
70
84
63
83
76
AVERAGE SELLING PRICE
$500,059
$667,993
$862,797
$638,306
$678,299
AVERAGE LISTING PRICE
$539,207
$705,696
$901,636
$670,076
$706,536
DISCOUNT RATIO MEDIAN
93%
95%
96%
95%
96%
$445,000
$602,500
$635,000
$625,000
$658,250
90
74
69
46
37
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
$1,2 00,000
62 60 58 56 54 52 50 48 46
$1,0 00,000 $800,000
MONTEREY / SALINAS HIGHWAY
$600,000 $400,000
Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city in Monterey
$200,000 $2012
County. Situated in the lush and fertile Salinas Valley, known as the Salad Bowl of America,Salinas
UNITS SOLD
2012
2014
Average Selling Price
has a thriving agricultural economy.
SINGLE FAMILY HOMES | Q3
2013
2013
2014
2015
2016
Units Sold
2015
2016
60
51
54
57
58
AVERAGE SELLING PRICE
$618,933
$715,099
$1,000,628
$1,008,050
$941,926
AVERAGE LISTING PRICE
$701,578
$763,127
$1,043,516
$1,073,837
$1,029,095
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
88%
94%
96%
94%
92%
$499,750
$535,000
$739,450
$799,000
$761,000
94
94
64
77
90
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
$1,0 00,000
60
$800,000
50 40
$600,000
PACIFIC GROVE Popularly known as America’s Last Home Town, Pacific Grove possesses a quaint and quiet charm all its own. Famous for its numerous Victorianstyle homes, Pacific Grove has a rich architectural
30
$400,000
20
$200,000
10
$-
0 2012
history, apparent in its old-style downtown.
SINGLE FAMILY HOMES | Q3
2013
2014
Average Selling Price
2012
UNITS SOLD
2013
2014
2015
2016
Units Sold
2015
2016
54
46
38
46
45
AVERAGE SELLING PRICE
$590,811
$723,703
$894,830
$897,082
$898,287
AVERAGE LISTING PRICE
$650,337
$762,626
$938,326
$935,935
$960,298
DISCOUNT RATIO MEDIAN
91%
95%
95%
96%
94%
$507,500
$711,250
$676,250
$731,000
$799,000
64
73
65
51
54
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
$3,5 00,000
37 36 35 34 33 32 31 30 29 28
$3,0 00,000 $2,5 00,000
PEBBLE BEACH
$2,0 00,000
Pebble Beach is a prestigious community world renowned for its unparalleled golf. Boasting seven courses within its gates, it is most notable for the Pebble Beach Golf Links, which is considered by
$1,5 00,000 $1,0 00,000 $500,000 $2012
many to be the best public course in the world.
2013
2014
Average Selling Price
SINGLE FAMILY HOMES | Q3 UNITS SOLD
2012
2013
2014
2015
2016
Units Sold
2015
2016
32
36
34
31
35
AVERAGE SELLING PRICE
$1,793,185
$2,119,940
$2,148,404
$1,843,392
$2,954,629
AVERAGE LISTING PRICE
$2,051,213
$2,347,294
$2,472,715
$2,054,081
$3,701,443
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
87%
90%
87%
90%
80%
$1,155,650
$1,052,500
$1,610,000
$1,315,000
$1,580,000
137
94
92
115
126
sothebyshomes.com/monterey
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 00110341 | $1,499,000 HOUSTON, TX | Web: 1234994 | $1,199,999 PASADENA, CA | Web: 0278049 | $1,150,000 RESORT MARKETS GLEN ELLEN, CA | Web: 0244201 | $1,495,000 EAST HAMPTON, NY | Web: 0038372 | $1,495,000 SANTA FE, NM | Web: 0575641 | $1,297,000 FOREIGN MARKETS COSTA RICA | Web: S34T2S | $1,200,000 ITALY | Web: LV25XV | 1.100.000 € EUR TURKS AND CAICOS | Web: 2SZDM9 | $975,000 sothebysrealty.com
SERVING MONTEREY PENINSULA