Is Monterey County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$835,314
$545/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Monterey County have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Monterey County was $835,314 in March 2024, up 3.9% from last year, and the median price per square foot was $545.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $510K | $565K | +10.8% |
| 2 Bedrooms | $671.2K | $767.6K | +14.4% |
| 3 Bedrooms | $800.2K | $799.2K | -0.1% |
| 4 Bedrooms | $870K | $978.5K | +12.5% |
| 5+ Bedrooms | $1.4M | $1.2M | -12.8% |
Summary: Monterey County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 14.4%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 12.8%.
Median Sold Price Compared To Nearby Counties
| Monterey County | $804.3K | $835.3K | +3.9% |
| Kings County | $345K | $357.7K | +3.7% |
| Fresno County | $399.9K | $405.1K | +1.3% |
| Santa Cruz County | $1.1M | $1.1M | -3.1% |
| San Benito County | $775K | $750K | -3.2% |
Housing Supply in Monterey County, CA
How many homes are available in Monterey County, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 556 | 645 | +16.0% |
Summary: The Monterey County real estate market had 645 homes for sale in March 2024, a 16.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 22 | +57.1% |
| 2 Bedrooms | 110 | 118 | +7.3% |
| 3 Bedrooms | 242 | 276 | +14.0% |
| 4 Bedrooms | 135 | 162 | +20.0% |
| 5+ Bedrooms | 55 | 67 | +21.8% |
Summary: The Monterey County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 57.1%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 21.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 112 | 152 | +35.7% |
Asking Price vs. Sold Price
61 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monterey County, you may be able to get a good deal. 40.9% of homes here sold below asking price last month.
Summary: A total of 152 homes were sold or pending in Monterey County in March 2024, up by 35.7% month-over-month. Of the 149 sold homes, 41% were sold under asking, 25% were sold at asking, and 34% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 44 Days | 41 Days | -8.5% |
Summary: Homes in Monterey County had an average of 41 days on market in Mar 2024, down by 8.5% compared to last year.
Breakdown of Home Sale Times
102 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monterey County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 152 homes were sold in Monterey County; 67% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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