Is Monterey County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Monterey County has remained a Seller's Market.
Housing Prices in Monterey County, CA
How much do homes in Monterey County, CA cost?
Median Sold Price
$851,987
$548/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Monterey County was $851,987 in May 2024, up 6.5% from last year, and the median price per square foot was $548.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $499K | $585K | +17.2% |
2 Bedrooms | $670K | $772.5K | +15.3% |
3 Bedrooms | $792.7K | $825.3K | +4.1% |
4 Bedrooms | $878.5K | $991K | +12.8% |
5+ Bedrooms | $1.2M | $1.1M | -11.1% |
Summary: Monterey County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.2%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 11.1%.
Median Sold Price Compared To Nearby Counties
Monterey County | $799.8K | $851.9K | +6.5% |
Kings County | $345K | $358K | +3.8% |
Fresno County | $399.8K | $407K | +1.8% |
San Benito County | $760K | $763K | 0.4% |
Santa Cruz County | $1.1M | $1.1M | -2.5% |
Housing Supply in Monterey County, CA
How many homes are available in Monterey County, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
666 | 729 | +9.5% |
Summary: The Monterey County real estate market had 729 homes for sale in May 2024, a 9.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 32 | 31 | -3.1% |
2 Bedrooms | 130 | 132 | +1.5% |
3 Bedrooms | 273 | 314 | +15.0% |
4 Bedrooms | 161 | 174 | +8.1% |
5+ Bedrooms | 70 | 78 | +11.4% |
Summary: The Monterey County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.1%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 11.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
164 | 181 | +10.4% |
Asking Price vs. Sold Price
73 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
71 Homes Were Sold
Over Asking
Summary: A total of 181 homes were sold or pending in Monterey County in May 2024, up by 10.4% month-over-month. Of the 177 sold homes, 41% were sold under asking, 19% were sold at asking, and 40% were sold over asking.
Days on Market for Monterey County, CA
How long does it take to sell a home in Monterey County, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
35 Days | 33 Days | -4.8% |
Summary: Homes in Monterey County had an average of 33 days on market in May 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
134 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During May 2024, 181 homes were sold in Monterey County; 74% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.