monterey peninsula market update | q3 2015
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All data within this document is pulled from the Monterey Peninsula MLS. Areas include the Monterey Peninsula.
Monterey Peninsula Market UpdateThird Quarter 2015MONTEREY 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
Pacific Grove | Web ID: 1210162
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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.
SERVING MONTEREY PENINSULA
FEATURED LISTINGS
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 2015. MLSListings.com reports the following Q3 2015 over Q3 2014 statistics:
The number of units sold on the Monterey Peninsula was up by 7.6% and average days on the market was down slightly. However there was a decrease of 9% in average sales price in most communities.
Of particular interest in Q3 2015: • Carmel Highlands: Average sales price was up more than 400%, reflected in the three sales that closed in Q3 • Carmel Valley: Average sales price was up 20% • Monterey: Units sold up 32%; average sales price down 26% • Pacific Grove: Units were up 21%
These positive trends bode well for home sellers on the Monterey Peninsula. If you are thinking of selling your home, this is a strong market to take advantage of as many sellers during Q3 2015 enjoyed multiple offers from buyers.
CARMEL | Web ID: 0474290 | $1,649,000Gin Weathers 831.594.4752, Charlotte Gannaway 831.297.2388
PEBBLE BEACH | Web ID: 0474291 | $1,525,000Lisa Brom 831.682.0126, Maryanne Radzis 831.233.2834
CARMEL | Web ID: 0474219 | $1,950,000Sam Piffero 831.236.5389, Kimberly Kornazewich 831.236.6041
MONTEREY | Web ID: 1210239 | $1,899,000J.R. Rouse 831.277.3464
sothebyshomes.com/monterey
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2011 2012 2013 2014 2015
Average Selling Price
FIVE YEARS OF AVERAGE SELLING PRICES | Q3
MONTEREY PENINSULALocated on the central California coast, the
beautiful Monterey Peninsula offers great living
in some of the most desirable areas, including:
Big Sur, Carmel, Carmel Highlands, Carmel
Valley, Monterey, Pacific Grove, Pebble Beach and
Monterey/Salinas Highway.
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 289 304 306 290 312
AVERAGE SELLING PRICE $752,423 $802,099 $950,300 $1,114,582 $1,013,868
AVERAGE LISTING PRICE $873,791 $917,036 $1,036,349 $1,216,971 $1,117,204
DISCOUNT RATIO 86% 87% 92% 92% 91%
MEDIAN $590,000 $620,000 $750,375 $830,000 $820,000
AVERAGE DAYS ON MARKET 128 114 95 79 74
275
280
285
290
295
300
305
310
315
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
SERVING MONTEREY PENINSULA
BIG SURSouth of Carmel lies Big Sur, nearly 100 miles of
pristine, rugged coastline, where the Santa Lucia
Mountains rise precipitously from the Pacific
Ocean, creating some of the most spectacular
views and iconic imagery in America. Big Sur is
best known for its natural untouched beauty.
CARMELCarmel 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
dining, shopping and charming inns, Carmel is a
haven for visitors and locals alike.
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 0 0 2 1 3
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 n/a n/a 90% 91% 76%
MEDIAN $- $- $3,125,000 $5,250,000 $3,137,500
AVERAGE DAYS ON MARKET - - 171 630 449
0
0.5
1
1.5
2
2.5
3
3.5
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 54 61 65 75 67
AVERAGE SELLING PRICE $1,439,700 $1,218,365 $1,362,188 $1,545,337 $1,524,308
AVERAGE LISTING PRICE $1,665,823 $1,427,541 $1,492,244 $1,688,269 $1,682,154
DISCOUNT RATIO 86% 85% 91% 92% 91%
MEDIAN $1,183,400 $960,000 $1,100,000 $1,250,000 $1,200,000
AVERAGE DAYS ON MARKET 126 208 129 85 91
01020304050607080
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
sothebyshomes.com/monterey
CARMEL HIGHLANDSA 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
enviable views of the dramatic and ever-changing
coastline.
CARMEL VALLEYJust 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
country club real estate are enhanced by the
numerous golf courses and wineries.
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 2 3 2 1 3
AVERAGE SELLING PRICE $1,006,250 $6,932,667 $2,500,000 $900,000 $5,154,167
AVERAGE LISTING PRICE $1,374,000 $8,633,667 $3,212,000 $1,250,000 $6,700,000
DISCOUNT RATIO 73% 80% 78% 72% 77%
MEDIAN $1,006,250 $9,250,000 $2,500,000 $900,000 $5,812,500
AVERAGE DAYS ON MARKET 248 69 273 13 191
0
1
2
3
4
$- $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 31 24 20 24 22
AVERAGE SELLING PRICE $620,498 $775,292 $1,068,825 $785,329 $941,717
AVERAGE LISTING PRICE $744,414 $819,571 $1,164,745 $878,663 $989,818
DISCOUNT RATIO 83% 95% 92% 89% 95%
MEDIAN $550,000 $731,500 $881,250 $779,000 $786,000
AVERAGE DAYS ON MARKET 158 80 99 108 54
0
5
10
15
20
25
30
35
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
SERVING MONTEREY PENINSULA
MONTEREYMonterey 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
Monterey Bay Aquarium stretch along the vibrant
waterfront.
MONTEREY /
SALINAS HIGHWAYSalinas lies directly east of the Monterey Peninsula
and is the county seat and largest city in Monterey
County. Situated in the lush and fertile Salinas
Valley, known as the Salad Bowl of America,Salinas
has a thriving agricultural economy.
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 70 70 84 63 83
AVERAGE SELLING PRICE $561,928 $500,059 $667,993 $862,797 $638,306
AVERAGE LISTING PRICE $641,546 $539,207 $705,696 $901,636 $670,076
DISCOUNT RATIO 88% 93% 95% 96% 95%
MEDIAN $435,250 $445,000 $602,500 $635,000 $625,000
AVERAGE DAYS ON MARKET 90 90 74 69 46
0
20
40
60
80
100
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 63 60 51 54 57
AVERAGE SELLING PRICE $709,898 $618,933 $715,099 $1,000,628 $1,008,050
AVERAGE LISTING PRICE $802,673 $701,578 $763,127 $1,043,516 $1,073,837
DISCOUNT RATIO 88% 88% 94% 96% 94%
MEDIAN $584,000 $499,750 $535,000 $739,450 $799,000
AVERAGE DAYS ON MARKET 109 94 94 64 77
0
10
20
30
40
50
60
70
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
0
10
20
30
40
50
60
70
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
sothebyshomes.com/monterey
PACIFIC GROVEPopularly known as America’s Last Home Town,
Pacific Grove possesses a quaint and quiet charm
all its own. Famous for its numerous Victorian-
style homes, Pacific Grove has a rich architectural
history, apparent in its old-style downtown.
PEBBLE BEACHPebble 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
many to be the best public course in the world.
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 41 54 46 38 46
AVERAGE SELLING PRICE $576,879 $590,811 $723,703 $894,830 $897,082
AVERAGE LISTING PRICE $674,428 $650,337 $762,626 $938,326 $935,935
DISCOUNT RATIO 86% 91% 95% 95% 96%
MEDIAN $535,000 $507,500 $711,250 $676,250 $731,000
AVERAGE DAYS ON MARKET 179 64 73 65 51
0
10
20
30
40
50
60
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015
UNITS SOLD 28 32 36 34 31
AVERAGE SELLING PRICE $1,207,968 $1,793,185 $2,119,940 $2,148,404 $1,843,392
AVERAGE LISTING PRICE $1,449,829 $2,051,213 $2,347,294 $2,472,715 $2,054,081
DISCOUNT RATIO 83% 87% 90% 87% 90%
MEDIAN $947,500 $1,155,650 $1,052,500 $1,610,000 $1,315,000
AVERAGE DAYS ON MARKET 152 137 94 92 115
0510152025303540
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS
NEW YORK, NY | Web: 00110341 | $1,700,000
SAN FRANCISCO, CA | Web: 0087579 | $1,525,000
HOUSTON, TX | Web: 1233394 | $1,595,000
RESORT MARKETS
PALM BEACH, FL | Web: 0076755 | $1,700,000
CAPE COD, MA | Web: 0403249 | $1,695,000
SANTA BARBARA, CA | Web: 0113946 | $1,800,000
FOREIGN MARKETS
COSTA RICA | Web: S349HB | $1,350,000
ITALY | Web: JM3MBW | $1,792,115
GREECE | Web: DNJSXS | $1,792,115
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