Brady and Son Realty

A Real Estate Team from Keller Williams Silicon City

Fulfilling Dreams, one Home at a Time.

Whether you are selling, buying, or investing, our goal is to meet your Real Estate needs so well that you recommend us to your family and friends.

2221 Oakland Road #268, San Jose, CA 95131

Phone: 408-868-8052

Monterey, California

Monterey Fishermans Wharf
Monterey Fisherman's Wharf, photo from https://www.seemonterey.com/regions/monterey/

Demographics

Business and the Economy

Government

City Government

Monterey is in the County of Monterey and is governed by a council consisting of five members, including the mayor.

Monterey City Hall
Santa Cruz County Logo

Things to Do

Hiking:

  • Under Construction

Parks and Rec:

  • Under Construction
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Monterey Real Estate Market

Average Sales Price and Bidding Ratio

Aptos Real Estate Sales Trends
Monterey Real Estate Trends: Average Sales Price and Average Sales to List Price Ratio by Month

The graph above shows average sales price and the average sales price to list price ratio for sales in Monterey for the past 12 months. Here we see that Monterey prices climbed in late summer then held fairly constant through the winter, avoiding the usual winter dip. The April peak represents what would have been the beginning of a strong spring buying season had COVID-19 not interrupted the real estate market in mid March. That spring surge has dwindled away in the ensuing months.

The Average Sales to List Price Ratio represented by the red line, tracks the spring surge in February and March, then, like prices, dwindles away to a more normal 1-2% below list.

Sales by Price Range

Monterey Residential Home Sales by Price Range
Monterey Real Estate Trends: Sales by Price Range over the past 12 months

The histogram above depicts Monterey home sales by price range. Here we see the majority of Monterey home sales have occurred in the $400,000 to $1,000,000 range with a burgeoning second peak in the $1,200,000 to $1,400,000 range.

Days on Market as a Function of List Price

Monterey Average Days on Market by Price Range
Monterey Real Estate: 6-month Average: Days to Sell versus Price Range

The second rule of real estate after Location: Timing. Buyers and Sellers need to understand the time trends in the market. 

Sellers need to be aware of how long it might take to sell their home. Many variables affect this time, not the least of which is list price. Demand is high enough to keep average time on market low for condominiums and town homes, while single family homes tend to take 1-2 months to sell.

For the buyers, it is important to understand how fast you have to move – not just in responding to a home you like, but in how frequently you need to check the market and how quickly you need to make arrangements to view the home. 

Most of the Monterey market sells in five to 12 weeks on average, with the luxury price points taking much longer

Sales to List Price Ratio as a Function of List Price

Understanding Price is imperative both form the Seller’s and Buyer’s perspectives.

For the seller, pricing too high can be disastrous. Buyers will focus their attention on lower-priced listings first. So can pricing so low that buyers wonder what is wrong with the property.

Here we see that winning offers have averaged between list and about 6% below list for most price ranges. While very different from the markets in Silicon Valley, this is a normal market condition in most of the country.

Monterey Average Sales to List Price Ratio by Price Range
Monterey Real Estate: 6-month Average Sale Price to List Price Ratio by Price Range

Help me with Monterey Real Estate

The accuracy of the information displayed in this site is not guaranteed. The user is advised to conduct their own investigations to validate any information on which purchase or sale decisions are made. Data from the Multiple Listings Service subject to applicable limits on accuracy and content.

Original content ©2018, 2019, 2020 Brady and Son Realty Team @ KW Silicon City . Referenced images and data subject to originator copyrights.