Brady and Son Realty

A Real Estate Team from Keller Williams Silicon City

Building Dreams, one Home at a Time.

Our Goal is to help you navigate the complexities of Silicon Valley Real Estate such that you are happy to recommend us to your family and friends.

2221 Oakland Road #268, San Jose, CA 95131

Phone: 408-868-8052

Monterey County Real Estate

Monterey's iconic Cannery Row (Image credit: Hotel Pacific)

Monterey Area Profile

Demographics: (2015)

  • Population: 435,232
  • Median Age: 34
  • households: 125,740
  • Median household Income: $63,876
  • Mean Property Value: $481,000

Business

  • Employees: 967,374
  • Top 3 occupations: Agriculture, Fishing, & Forestry; Administrative; Sales
  • Top 3 industries by employment: Agrigulture, Forestry, Fishing, Hunting;  Retail Trade; Healthcare and Social Services
  • Average Commute Time: 22 Minutes

County Government

Monterey County is governed by a Board of Supervisors consisting of 5 members elected to overlapping 4-year terms. Supervisors are elected by district.
Monterey County Government Building

Monterey County Real Estate Market

Monterey County Real Estate Trends: 12-month Average Sales Price and Average Sales to List Price Ratio by Month

After a brief dip in December, Monterey County average prices resumed their upward trend before reversing in April. In other areas, such as Santa Clara County, where the dip began in May, the shift has been attributed to an increase in the number of homes on the market; however, in Monterey, the number of active listings in April was down about 10% from 5-year historical averages. In July, when prices seemed to resume their upward climb, the number of active listings are almost 17% lower than historical averages, indicating the lack of available listings is driving up prices. However, delving into the numbers, July’s sales were influenced by the below market sale of a $25M estate. The red line tracks the average sales price to list price ratio. Here we see bidding peaked in May at only 98.6% of list, then declining to 98% average.

Santa Clara County Real Estate Trends: 12-month Residential sales by price range

The histogram above shows the breakdown of residential home sales by price range. Here we see the bulk of the Monterey County market is in the range from $200,000 to $1,000,000 despite the high prices in coastal areas such as Pebble Beach, Carmel, and Pacific Grove. 

Monterey County Real Estate: 6-month Average: Days to Sell versus Price Range

The average days to sell histogram shows that for homes priced between $400,000 and $3,000,000, sellers can expect to be in contract in 15 days or less. This is generally much shorter for well-priced homes, with most homes selling in under 7 days, or about 1/3 of the national average. At the high end, homes sell in a relatively quick average of 48 days even though three of the 28 sales over $5,000,000 took more than a year to get into contract (10 well-priced homes were sold in under 2 weeks). 

In the sale-price-to-list-price-ration histogram here, we see that offers average above list all price brackets. As realtors, this makes advising clients on offer price tricky. Historical averages are often outstripped by pent-up demand. Here we see that county-wide, lower-priced homes sell closer to list than higher-priced homes.

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

Help me with Monterey County 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 Brady and Son Realty Team @ KW Silicon City . Referenced images and data subject to originator copyrights.