$9,726 Closing Credit*
$819,000
1,020 SqFt
2 Beds
•1 Full Bath
Pete Deoudes, Listing Office: Coldwell Banker Realty
Is Monterey, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Monterey was a Seller's Market.
Key Takeaway
Monterey is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Monterey, CA
How much do homes in Monterey, CA cost?
Median Sold Price
$1,025,000
$722/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$84,000(-7.6%)
Key Takeaway
Homes in Monterey have sold for 7.6% less than they did a year ago.
Summary: The median home sold price in Monterey was $1,025,000 in November 2024, down 7.6% from last year, and the median price per square foot was $722.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $483.5K | $510K | +5.5% |
| 2 Bedrooms | $775K | $820K | +5.8% |
| 3 Bedrooms | $1.2M | $1.1M | -8.0% |
| 4 Bedrooms | $1.7M | $1.7M | -1.4% |
| 5+ Bedrooms | $2.1M | $3.5M | +66.7% |
Summary: Monterey housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 5.8%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 66.7%.
Median Sold Price Compared To Nearby Cities
| Seaside | $718K | $810K | +12.8% |
| Pebble Beach | $2.6M | $2.8M | +5.8% |
| Pacific Grove | $1.4M | $1.4M | -0.2% |
| Monterey | $1.1M | $1.0M | -7.6% |
Housing Supply in Monterey, CA
How many homes are available in Monterey, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 91 | 81 | -11.0% |
Summary: The Monterey real estate market had 81 homes for sale in November 2024, a 11.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 10 | -28.6% |
| 2 Bedrooms | 24 | 24 | 0.0% |
| 3 Bedrooms | 36 | 32 | -11.1% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Monterey housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 13 | -48.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monterey, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Monterey in November 2024, down by 48.0% month-over-month. Of the 13 sold homes, 69% were sold under asking, 8% were sold at asking, and 23% were sold over asking.
Days on Market for Monterey, CA
How long does it take to sell a home in Monterey, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 57 Days | +60.6% |
Summary: Homes in Monterey had an average of 57 days on market in Nov 2024, up by 60.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Monterey has remained consistent over time.
Summary: During November 2024, 13 homes were sold in Monterey; 31% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.