The Heinrich Team

Monterey, CA 93940

Single-Family Homes

Ben & Carole Heinrich Coldwell Banker Carmel


Monterey, CA 93940

Wed Oct 04 2023
This week the median list price for Monterey, CA 93940 is $1,488,800 with the market action index hovering around 44. This is about the same as last month's market action index of 44. Inventory has increased to 29. Click here to stay informed with the Monterey market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Monterey, CA 93940

Wed Oct 04 2023
This week the median list price for Monterey, CA 93940 is $1,488,800 with the market action index hovering around 44. This is about the same as last month's market action index of 44. Inventory has increased to 29. Click here to stay informed with the Monterey market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Real-Time Market Profile

Never miss important changes in the Monterey market.
Median List Price $1,488,800
Median Price of New Listings $4,297,500
Per Square Foot $740
Average Days on Market 100
Median Days on Market 42
Price Decreased 41%
Price Increased 0%
Relisted 3%
Inventory 29
Median Rent
Market Action 44
Slight Seller's Advantage

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$4,750,000 4,475 0.5 - 1 acre 5 4.5 22 2 0 119
$1,900,000 3,885 0.5 - 1 acre 4 3.5 30 0 1 35
$1,199,000 1,502 4,500 - 6,500 sqft 3 2 89 0 1 63
$1,023,000 1,462 4,500 - 6,500 sqft 3 2 71 0 0 14