Is Pacific Grove, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Pacific Grove was a Seller's Market.
Key Takeaway
Pacific Grove is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Pacific Grove, CA
How much do homes in Pacific Grove, CA cost?
Median Sold Price
$1,500,000
$1,079/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Pacific Grove have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Pacific Grove was $1,500,000 in June 2024, up 7.9% from last year, and the median price per square foot was $1,079.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $895K | $1.1M | +25.7% |
| 2 Bedrooms | $1.1M | $1.2M | +10.8% |
| 3 Bedrooms | $1.3M | $1.5M | +10.1% |
| 4 Bedrooms | $1.7M | $2.1M | +21.5% |
| 5+ Bedrooms | $1.8M | $2.0M | +13.0% |
Summary: Pacific Grove housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
| Seaside-Monterey | $1.0M | $1.0M | +9.3% |
| 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 Pacific Grove, CA
How many homes are available in Pacific Grove, CA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 46 | 44 | -4.3% |
Summary: The Pacific Grove real estate market had 44 homes for sale in June 2024, a 4.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Pacific Grove housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 15 | 7 | -53.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pacific Grove, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Pacific Grove in June 2024, down by 53.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Pacific Grove, CA
How long does it take to sell a home in Pacific Grove, CA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 7 Days | 22 Days | +210.8% |
Summary: Homes in Pacific Grove had an average of 22 days on market in Jun 2024, up by 210.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pacific Grove are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 7 homes were sold in Pacific Grove; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.