Is Pacific Grove, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pacific Grove is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Pacific Grove, CA

How much do homes in Pacific Grove, CA cost?

Median Sold Price

$1,425,000

$1,060/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$28,312(+2.0%)

Key Takeaway

Homes in Pacific Grove have sold for 2% more than they did a year ago.

Summary: The median home sold price in Pacific Grove was $1,425,000 in March 2024, up 2% from last year, and the median price per square foot was $1,060.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $941.9K$1.1M
+18.9%
2 $1.0M$1.2M
+23.7%
3 $1.4M$1.5M
+6.4%
4 $1.9M$1.9M
0.0%
5+ $1.9M$1.8M
-4.1%

Summary: Pacific Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 23.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 4.1%.

Median Sold Price Compared To Nearby Cities

Seaside-Monterey
+8.3%
Pacific Grove
+2.0%
Pebble Beach
+1.4%
Monterey
0.5%

Housing Supply in Pacific Grove, CA

How many homes are available in Pacific Grove, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3445+32.4%

Summary: The Pacific Grove real estate market had 45 homes for sale in March 2024, a 32.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 1215
+25.0%
3 1316
+23.1%
4 610
+66.7%
5+ 23
+50.0%

Summary: The Pacific Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
511+120.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pacific Grove, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Pacific Grove in March 2024, up by 120.0% month-over-month. Of the 11 sold homes, 36% were sold under asking, 27% were sold at asking, and 36% 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

Mar 2023Mar 2024CHANGE
52 Days32 Days-37.0%

Summary: Homes in Pacific Grove had an average of 32 days on market in Mar 2024, down by 37% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 11 homes were sold in Pacific Grove; 73% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% 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 21 Days Ago

Newest Listings in Pacific Grove, CA

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