Is Monterey, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Monterey has remained a Seller's Market.
Housing Prices in Monterey, CA
How much do homes in Monterey, CA cost?
Median Sold Price
$1,040,500
$735/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monterey was $1,040,500 in April 2024, up 1% from last year, and the median price per square foot was $735.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $475K | $487K | +2.5% |
2 Bedrooms | $775K | $830K | +7.1% |
3 Bedrooms | $1.1M | $1.2M | +0.9% |
4 Bedrooms | $1.5M | $1.7M | +12.3% |
5+ Bedrooms | $1.6M | $2.5M | +59.4% |
Summary: Monterey housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 59.4%.
Median Sold Price Compared To Nearby Cities
Del Rey Oaks | $835K | $900K | +7.8% |
Seaside | $725K | $778K | +7.3% |
Pacific Grove | $1.3M | $1.4M | +2.0% |
Monterey | $1.0M | $1.0M | +1.0% |
Pebble Beach | $3.0M | $2.7M | -10.2% |
Housing Supply in Monterey, CA
How many homes are available in Monterey, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
67 | 91 | +35.8% |
Summary: The Monterey real estate market had 91 homes for sale in April 2024, a 35.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 10 | +25.0% |
2 Bedrooms | 18 | 27 | +50.0% |
3 Bedrooms | 25 | 34 | +36.0% |
4 Bedrooms | 12 | 15 | +25.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Monterey housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 36%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 29 | +123.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Monterey in April 2024, up by 123.1% month-over-month. Of the 29 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 47 Days | +57.2% |
Summary: Homes in Monterey had an average of 47 days on market in Apr 2024, up by 57.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in Monterey; 76% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.