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

Housing Market Conditions



Gauge showing Monterey is a seller's market


Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Monterey, CA

How much do homes in Monterey, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since March 2023


Key Takeaway

The sold price of homes in Monterey has remained the same since last year.

Summary: The median home sold price in Monterey was $1,050,000 in March 2024, up 0.5% from last year, and the median price per square foot was $716.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $475K$480K
2 $760K$820K
3 $1.1M$1.2M
4 $1.4M$1.7M
5+ $1.6M$2.3M

Summary: Monterey housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 45.3%.

Median Sold Price Compared To Nearby Cities

Del Rey Oaks
Pacific Grove
Pebble Beach

Housing Supply in Monterey, CA

How many homes are available in Monterey, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE

Summary: The Monterey real estate market had 69 homes for sale in March 2024, a 16.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 48
2 2320
3 1925
4 812
5+ 54

Summary: The Monterey housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monterey, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.

Summary: A total of 12 homes were sold or pending in Monterey in March 2024, down by 25.0% month-over-month. Of the 11 sold homes, 27% were sold under asking, 45% were sold at asking, and 27% 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

Mar 2023Mar 2024CHANGE
24 Days23 Days-3.8%

Summary: Homes in Monterey had an average of 23 days on market in Mar 2024, down by 3.8% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 12 homes were sold in Monterey; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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 24 Days Ago

Newest Listings in Monterey, CA

Nearby Markets to Monterey, CA

What housing markets are near Monterey, CA?