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

Housing Market Conditions



Gauge showing Monterey is a seller's market


Difference Since February 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 February 2023


Key Takeaway

Homes in Monterey have sold for 1.9% less than they did a year ago.

Summary: The median home sold price in Monterey was $1,030,000 in February 2024, down 1.9% from last year, and the median price per square foot was $716.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $476K$481K
2 $763.5K$800K
3 $1.1M$1.2M
4 $1.5M$1.7M
5+ $1.6M$2.3M

Summary: Monterey housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 45.3%.

Median Sold Price Compared To Nearby Cities

Pebble Beach
Pacific Grove
Del Rey Oaks

Housing Supply in Monterey, CA

How many homes are available in Monterey, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE

Summary: The Monterey real estate market had 61 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 35
2 2324
3 1919
4 108
5+ 65

Summary: The Monterey housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 4.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monterey, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Monterey in February 2024, down by 11.8% month-over-month. Of the 15 sold homes, 40% were sold under asking, 27% were sold at asking, and 33% 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

Feb 2023Feb 2024CHANGE
39 Days33 Days-15.3%

Summary: Homes in Monterey had an average of 33 days on market in Feb 2024, down by 15.3% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 February 2024, 15 homes were sold in Monterey; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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 3 Days Ago

Newest Listings in Monterey, CA

Nearby Markets to Monterey, CA

What housing markets are near Monterey, CA?