Monterey Peninsula Home Team - Mark Bruno

Monterey, CA 93940

Single-Family Homes

Keller Williams Coastal Estates


Monterey, CA 93940

Mon Dec 11 2023
This week the median list price for Monterey, CA 93940 is $1,450,000 with the market action index hovering around 43. This is about the same as last month's market action index of 43. Inventory has decreased to 20. 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

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Monterey, CA 93940

Mon Dec 11 2023
This week the median list price for Monterey, CA 93940 is $1,450,000 with the market action index hovering around 43. This is about the same as last month's market action index of 43. Inventory has decreased to 20. 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

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Monterey market.
Median List Price $1,450,000
Median Price of New Listings $1,467,500
Per Square Foot $776
Average Days on Market 143
Median Days on Market 56
Price Decreased 35%
Price Increased 0%
Relisted 5%
Inventory 20
Median Rent
Market Action 43
Slight Seller's Advantage

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks 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
$4,950,000 4,836 0.5 - 1 acre 4 4.5 17 0 1 70
$1,798,000 3,151 0.25 - 0.5 acre 4 2.5 40 1 1 42
$1,250,000 1,584 4,500 - 6,500 sqft 3 2 70 1 1 35
$950,000 1,297 4,500 - 6,500 sqft 2 2 72 0 0 91