Is Monterey, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$1,075,500
$723/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Monterey was $1,075,500 in June 2024, up 7.5% from last year, and the median price per square foot was $723.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $475K | $500K | +5.3% |
2 Bedrooms | $755K | $858K | +13.6% |
3 Bedrooms | $1.2M | $1.1M | -4.2% |
4 Bedrooms | $1.5M | $1.7M | +12.9% |
5+ Bedrooms | $1.6M | $2.6M | +62.8% |
Summary: Monterey housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 13.6%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 62.8%.
Median Sold Price Compared To Nearby Cities
Seaside | $710K | $815K | +14.8% |
Del Rey Oaks | $835K | $942.5K | +12.9% |
Pacific Grove | $1.3M | $1.5M | +7.9% |
Monterey | $1.0M | $1.0M | +7.5% |
Pebble Beach | $2.6M | $2.7M | +2.2% |
Housing Supply in Monterey, CA
How many homes are available in Monterey, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
86 | 92 | +7.0% |
Summary: The Monterey real estate market had 92 homes for sale in June 2024, a 7.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 11 | +37.5% |
2 Bedrooms | 25 | 23 | -8.0% |
3 Bedrooms | 36 | 41 | +13.9% |
4 Bedrooms | 13 | 11 | -15.4% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Monterey housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 13.9%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
22 | 21 | -4.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Monterey in June 2024, down by 4.5% month-over-month. Of the 21 sold homes, 43% were sold under asking, 33% were sold at asking, and 24% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
18 Days | 23 Days | +25.4% |
Summary: Homes in Monterey had an average of 23 days on market in Jun 2024, up by 25.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 21 homes were sold in Monterey; 76% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.