Carmel | Web ID: 0474349
Monterey Peninsula Market Update Fourth Quarter 2015 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
FIVE YEARS OF AVERAGE SELLING PRICES | Q4
I am pleased to provide a summary of sales activity for the Monterey Peninsula real estate market during the third quarter of 2015. MLSListings.com reports the following Q4 2015 over Q4 2014 statistics:
$1,400,000 $1,200,000
The number of units sold on the Monterey Peninsula was 305 which represented an increase of about 13% and average days on the market was 90 which was flat with the same period in 2014.
$1,000,000 $800,000
Of particular interest in Q4 2015: • Average Sales price in Carmel was up 18%, while Days on Market were down • The number of homes sold in Carmel Valley were up from 18 units in Q4 2014 to 38 units in Q4 2015 • Average days on market dropped 28% for Monterey/Salinas Highway
$600,000 $400,000 $200,000 $-
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 as many sellers during Q4 2015 enjoyed multiple offers from buyers.
2011
2012
FEATURED LISTINGS
2013
2014
2015
Average Selling Price
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $1,400,000
320 310 300 290 280 270 260 250 240 230
$1,200,000 $1,000,000 $800,000
MONTEREY PENINSULA MONTEREY | Web ID: 1210297 | $749,000 Annette Boggs 831.601.5800
CARMEL | Web ID: 0474325 | $1,899,000 Merritt Ringer 831.594.1302
$600,000 $400,000
Located on the central California coast, the beautiful Monterey Peninsula offers great living in some of the most desirable areas, including:
$200,000 $2011
Big Sur, Carmel, Carmel Highlands, Carmel
2012
2013
Average Selling Price
Valley, Monterey, Pacific Grove, Pebble Beach and
2014
2015
Units Sold
Monterey/Salinas Highway.
SINGLE FAMILY HOMES | Q4 UNITS SOLD
SERVING MONTEREY PENINSULA
2013
2014
2015
261
309
264
269
305
$737,461
$784,868
$895,494
$1,147,487
$1,187,800
AVERAGE LISTING PRICE
$882,744
$902,617
$998,794
$1,281,277
$1,780,310
MEDIAN CARMEL | Web ID: 0474323 | $2,998,000 Sharon Swallow 831.241.8208
2012
AVERAGE SELLING PRICE DISCOUNT RATIO PEBBLE BEACH | Web ID: 0474303 | $4,795,000 Scott O’Brien 831.620.2351, Brenda Anderson 831.402.6008
2011
AVERAGE DAYS ON MARKET
84%
87%
90%
90%
67%
$547,500
$650,000
$740,000
$850,000
$867,500
133
111
102
88
90
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
BIG SUR South of Carmel lies Big Sur, nearly 100 miles of pristine, rugged coastline, where the Santa Lucia Mountains rise precipitously from the Pacific
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-
2.5
$5,000,000
5
2
$4,000,000
4
$3,000,000
3
$2,000,000
2
$1,000,000
1
1.5 1
2011
Ocean, creating some of the most spectacular views and iconic imagery in America. Big Sur is
2012
2013
2014
Average Selling Price
A few short miles south of Carmel, along the
0.5
winding Pacific Coast Highway, are the Carmel
0
Highlands. Homes in the Highlands sit above the
2015
0
$2011
sea, and from their sheltered perch, many have enviable views of the dramatic and ever-changing
Units Sold
best known for its natural untouched beauty.
SINGLE FAMILY HOMES | Q4
CARMEL HIGHLANDS
2012
2013
Average Selling Price
2014
2015
Units Sold
coastline.
2011
UNITS SOLD
2012
2013
2014
2015
SINGLE FAMILY HOMES | Q4
2011
2013
2014
2015
2
2
1
1
1
1
3
3
2
4
AVERAGE SELLING PRICE
$730,000
$3,750,000
$400,000
$2,315,000
$600,000
AVERAGE SELLING PRICE
$865,000
$2,148,333
$2,251,667
$4,644,444
$2,201,250
AVERAGE LISTING PRICE
$992,000
$4,947,500
$549,800
$3,495,000
$650,000
AVERAGE LISTING PRICE
$875,000
$2,538,333
$2,744,667
$5,797,500
$2,515,750
DISCOUNT RATIO MEDIAN
UNITS SOLD
2012
74%
76%
73%
66%
92%
$730,000
$3,750,000
$400,000
$2,315,000
$600,000
170
328
77
643
61
AVERAGE DAYS ON MARKET
DISCOUNT RATIO MEDIAN
99%
85%
82%
80%
87%
$865,000
$900,000
$1,205,000
$4,644,444
$1,825,000
22
117
48
173
230
AVERAGE DAYS ON MARKET
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
80 70 60 50 40 30 20 10 0
$2,500,000 $2,000,000
CARMEL
$1,500,000
Carmel was founded as an enclave for artists
$1,000,000
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 $2011
dining, shopping and charming inns, Carmel is a
UNITS SOLD
2011
2013
Average Selling Price
haven for visitors and locals alike.
SINGLE FAMILY HOMES | Q4
2012
2012
2013
2014
2015
2014
$1,000,000
CARMEL VALLEY
$800,000
Just east of Carmel and beyond the “fog line”
$400,000
is Carmel Valley, a sun-soaked region nestled
$200,000
$600,000
between lush green mountains. Ranch-style
$2011
homes, vineyards, ranches, horse properties and country club real estate are enhanced by the
Units Sold
40 35 30 25 20 15 10 5 0
$1,200,000
2012
2013
Average Selling Price
2014
2015
Units Sold
numerous golf courses and wineries.
2015
SINGLE FAMILY HOMES | Q4
2012
2013
2014
2015
51
62
49
63
68
25
20
19
18
38
AVERAGE SELLING PRICE
$1,177,116
$1,320,301
$1,629,439
$1,804,534
$2,123,943
AVERAGE SELLING PRICE
$736,864
$880,003
$976,211
$920,900
$959,561
AVERAGE LISTING PRICE
$1,360,268
$1,525,761
$1,840,594
$2,026,024
$2,307,456
AVERAGE LISTING PRICE
$893,850
$994,795
$1,108,763
$1,096,134
$1,049,616
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
87%
87%
89%
89%
92%
$900,000
$1,069,500
$1,125,000
$1,499,000
$1,442,500
121
145
133
102
96
UNITS SOLD
2011
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
82%
88%
88%
84%
91%
$560,000
$670,000
$910,000
$660,000
$762,500
145
93
106
96
99
sothebyshomes.com/monterey
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
MONTEREY Monterey is the geographical and social center of the Peninsula. Its remarkable waterfront lies along Monterey Bay National Marine Sanctuary.
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
100
$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-
80 60 40 20 0 2011
Fisherman’s Wharf, Cannery Row and the famous Monterey Bay Aquarium stretch along the vibrant
2012
2013
Average Selling Price
2014
2015
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
$2011
style homes, Pacific Grove has a rich architectural history, apparent in its old-style downtown.
Units Sold
2012
2013
Average Selling Price
2014
2015
Units Sold
waterfront.
SINGLE FAMILY HOMES | Q4
2011
UNITS SOLD
2012
2013
2014
2015
SINGLE FAMILY HOMES | Q4
2011
2013
2014
2015
55
73
74
71
78
47
55
45
47
38
AVERAGE SELLING PRICE
$551,330
$572,915
$691,139
$744,773
$638,303
AVERAGE SELLING PRICE
$525,228
$636,894
$820,934
$838,533
$913,313
AVERAGE LISTING PRICE
$673,080
$639,223
$744,597
$807,600
$665,366
AVERAGE LISTING PRICE
$612,782
$675,548
$905,353
$892,306
$1,011,224
DISCOUNT RATIO MEDIAN
UNITS SOLD
2012
82%
90%
93%
92%
96%
$440,000
$467,500
$556,750
$642,000
$585,000
146
94
83
78
70
AVERAGE DAYS ON MARKET
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
86%
94%
91%
94%
90%
$460,000
$620,000
$655,000
$739,000
$845,000
109
87
88
59
87
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
70 70 60 60 50 50 40 40 30 30 20 20 10 10 0 0
$1,000,000 $2,000,000 $800,000 $1,500,000 $600,000
MONTEREY / SALINAS HIGHWAY
$1,000,000 $400,000 $500,000 $200,000
Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city in Monterey
$$-
2011 2011
County. Situated in the lush and fertile Salinas
2012 2012
2013 2013
Average Selling Price Average Selling Price
Valley, known as the Salad Bowl of America,Salinas
2014 2014
2015 2015
$3,000,000
50
$2,500,000
40
PEBBLE BEACH
$2,000,000
Pebble Beach is a prestigious community world
$1,000,000
renowned for its unparalleled golf. Boasting seven courses within its gates, it is most notable for the
20 10
$500,000
0
$2011
Pebble Beach Golf Links, which is considered by many to be the best public course in the world.
Units Sold Units Sold
30
$1,500,000
2012
2013
Average Selling Price
2014
2015
Units Sold
has a thriving agricultural economy.
SINGLE FAMILY HOMES | Q4 UNITS SOLD
2011
2012
2013
2014
2015
SINGLE FAMILY HOMES | Q4
2012
2013
2014
2015
55
64
50
36
39
25
30
23
31
39
AVERAGE SELLING PRICE
$658,145
$632,441
$855,891
$896,348
$866,813
AVERAGE SELLING PRICE
$1,786,060
$1,539,490
$1,569,786
$2,607,174
$2,242,969
AVERAGE LISTING PRICE
$773,589
$707,504
$945,647
$972,858
$915,456
AVERAGE LISTING PRICE
$2,225,512
$1,809,547
$1,754,539
$2,869,316
$2,651,960
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
SERVING MONTEREY PENINSULA
85%
89%
91%
92%
95%
$495,000
$497,500
$725,000
$777,500
$665,000
129
87
103
88
63
UNITS SOLD
2011
DISCOUNT RATIO MEDIAN AVERAGE DAYS ON MARKET
80%
85%
89%
91%
85%
$928,000
$1,032,500
$1,150,000
$1,065,000
$1,435,000
169
171
130
97
130
sothebyshomes.com/monterey
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 00110341 | $1,599,000 SAN FRANCISCO, CA | Web: 0087632 | $1,749,000 HOUSTON, TX | Web: 1232477 | $1,450,000 RESORT MARKETS MALIBU, CA | Web: 1290290 | $1,569,000 EAST HAMPTON, NY | Web: 0046917 | $1,499,000 SANTA BARBARA, CA | Web: 0592915 | $1,295,000 FOREIGN MARKETS MUMBAI | Web: 95M3MN | $1,358,798 SOUTH AFRICA | Web: QBJHBF | $1,414,109 COSTA RICA | Web: S349HB | $1,350,000 sothebysrealty.com
SERVING MONTEREY PENINSULA