The Heinrich Team
Monterey, CA 93940
Single-Family Homes
Ben & Carole Heinrich Coldwell Banker Carmel
Monterey, CA 93940
Wed May 01 2024
This week the median list price for Monterey, CA 93940 is $1,685,000 with the market action index hovering around 47. This is an increase over last month's market action index of 46. Inventory has increased to 29.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $1,685,000 | |
| Median Price of New Listings | $2,341,500 | |
| Per Square Foot | $748 | |
| Average Days on Market | 56 | |
| Median Days on Market | 21 | |
| Price Decreased | 28% | |
| Price Increased | 3% | |
| Relisted | 0% | |
| Inventory | 29 | |
| Median Rent | ||
| Market Action | 47 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,595,000 | 3,909 | 1 - 2.5 acres | 4 | 4 | 23 | 2 | 1 | 21 |
| $1,925,000 | 2,674 | 8,000 - 10,000 sqft | 4 | 2.5 | 40 | 1 | 0 | 28 |
| $1,574,000 | 2,091 | 6,500 - 8,000 sqft | 3 | 2.5 | 43 | 0 | 1 | 7 |
| $1,017,450 | 1,214 | 6,500 - 8,000 sqft | 3 | 2 | 73 | 1 | 2 | 70 |