Keller Williams Coastal Estates' Market Report

Pacific Grove, CA

Single-Family Homes

www.kwcoastalestates.com | frontdesk505@kw.com | 831.622.6200



Pacific Grove, CA

Mon Dec 11 2023
This week the median list price for Pacific Grove, CA is $1,610,000 with the market action index hovering around 53. This is an increase over last month's market action index of 46. Inventory has decreased to 16. Click here to stay informed with the Pacific Grove market!

Market Action Index

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

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Pacific Grove, CA

Mon Dec 11 2023
This week the median list price for Pacific Grove, CA is $1,610,000 with the market action index hovering around 53. This is an increase over last month's market action index of 46. Inventory has decreased to 16. Click here to stay informed with the Pacific Grove market!

Market Action Index

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

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Pacific Grove market.
Median List Price $1,610,000
Median Price of New Listings $2,300,000
Per Square Foot $1,019
Average Days on Market 117
Median Days on Market 74
Price Decreased 63%
Price Increased 0%
Relisted 6%
Inventory 16
Median Rent
Market Action 53
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

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
$3,562,500 2,808 4,500 - 6,500 sqft 4 3.5 73 1 1 157
$1,837,000 1,950 0 - 4,500 sqft 4 3.3 104 1 0 66
$1,474,500 1,295 4,500 - 6,500 sqft 3 2 79 0 1 66
$1,347,000 1,481 4,500 - 6,500 sqft 3 1 92 1 2 35