Single-Family Homes
Sat Jan 23 2021
This week the median list price for Monterey, CA 93940 is $1,525,000 with the market action index hovering around 47. This is less than last month's market action index of 51. Inventory has held steady at or around 29.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Median List Price | $1,525,000 | |
Per Square Foot | $608 | |
Days on Market | 100 | |
Price Decreased | 24% | |
Price Increased | 7% | |
Relisted | 0% | |
Inventory | 29 | |
Median Rent | $3,325 | |
Most Expensive | $5,495,000 | |
Least Expensive | $739,000 | |
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.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$3,998,000 | 4,836 | 1 - 2.5 acres | 5 | 6 | 19 | 0 | 0 | 158 |
$2,300,000 | 3,829 | 0.5 - 1 acre | 4 | 4 | 28 | 2 | 2 | 159 |
$1,250,000 | 2,570 | 0.25 - 0.5 acre | 4 | 3 | 61 | 1 | 0 | 50 |
$962,000 | 1,393 | 4,500 - 6,500 sqft | 3 | 2 | 61 | 1 | 4 | 40 |