Is Monterey County, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monterey County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Monterey County has remained a Seller's Market.

Key Takeaway

Monterey County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Monterey County, CA

How much do homes in Monterey County, CA cost?

Median Sold Price

$869,200

$565/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$64,554(+8.0%)

Key Takeaway

Homes in Monterey County have sold for 8% more than they did a year ago.

Summary: The median home sold price in Monterey County was $869,200 in October 2024, up 8% from last year, and the median price per square foot was $565.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $532.5K$552.5K
+3.8%
2 $702.6K$803.5K
+14.3%
3 $783K$850K
+8.6%
4 $921.5K$1.0M
+13.4%
5+ $1.2M$1.3M
+4.5%

Summary: Monterey County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Counties

Monterey County
+8.0%
San Benito County
+3.3%
Fresno County
+2.9%
Santa Cruz County
0.5%
Kings County
-1.4%

Housing Supply in Monterey County, CA

How many homes are available in Monterey County, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
782795+1.7%

Summary: The Monterey County real estate market had 795 homes for sale in October 2024, a 1.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 3643
+19.4%
2 152149
-2.0%
3 365364
-0.3%
4 162166
+2.5%
5+ 6773
+9.0%

Summary: The Monterey County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.4%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
161170+5.6%

Asking Price vs. Sold Price

92 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

41 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monterey County, you may be able to get a good deal. 56.1% of homes here sold below asking price last month.

Summary: A total of 170 homes were sold or pending in Monterey County in October 2024, up by 5.6% month-over-month. Of the 164 sold homes, 56% were sold under asking, 19% were sold at asking, and 25% 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

Oct 2023Oct 2024CHANGE
36 Days46 Days+25.2%

Summary: Homes in Monterey County had an average of 46 days on market in Oct 2024, up by 25.2% compared to last year.

Breakdown of Home Sale Times

96 Homes Were Sold
Under 30 Days

49 Homes Were Sold
In 30 - 90 Days

25 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Monterey County are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 170 homes were sold in Monterey County; 56% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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