Mon Feb 06 2023
This week the median list price for Monterey, CA is $1,621,500 with the market action index hovering around 37. This is less than last month's market action index of 39. Inventory has decreased to 16.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$1,621,500|
|Median Price of New Listings||$1,125,000|
|Per Square Foot||$780|
|Average Days on Market||179|
|Median Days on Market||116|
|Slight Seller's Advantage|
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$4,722,500||4,816||1 - 2.5 acres||5||4.8||17||0||0||262|
|$2,700,000||5,202||1 - 2.5 acres||5||4.5||31||0||0||227|
|$1,149,500||1,764||4,500 - 6,500 sqft||3||2||65||2||1||38|
|$812,499||813||4,500 - 6,500 sqft||2||2||89||1||0||42|