Mon Nov 30 2020
This week the median list price for Monterey, CA is $1,357,000 with the market action index hovering around 56. This is less than last month's market action index of 58. Inventory has held steady at or around 34.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,357,000|
|Per Square Foot||$618|
|Days on Market||57|
|Strong Seller's Market|
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$4,248,500||6,018||1 - 2.5 acres||5||6||17||0||1||118|
|$2,470,000||4,049||0.5 - 1 acre||4||4||23||1||4||49|
|$1,199,000||1,920||0.25 - 0.5 acre||3||3||53||2||2||15|
|$948,000||1,415||4,500 - 6,500 sqft||3||3||66||2||3||49|