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Pacific Grove, Ca 2nd Quarter Real Estate Report

By
Real Estate Agent

2nd Quarter Numbers in Pacific Grove, Ca

 

The second quarter numbers are now in for Pacific Grove, so let’s take a peak and see what they tell us.  The number of new listings in Q2 was 74 compared to 43 new listings in Q1 of 2015.  There were 35 closed transactions in Q1 and 51 closed transactions in Q2.   The average days on market for the 1st quarter of 2015 was 62 days versus an average of 48 days on the market for the 2nd quarter of 2015.  The inventory of homes on the market for the 1st quarter was 46 and the inventory for the 2nd quarter was 58.  For Q1 the average sales price was $908,081 and the median sales price was $815,000.  The second quarter average sales price was $872,627 and the median sales price was $785,000.  Overall sales volume for Q1 2015 was $31,782,835 compared to $44,504,000 total sales volume for Q2 of 2015.

So what does this tell us?  How do we interpret the above numbers?  Well obviously home owners have responded to the seller’s market by bringing more homes on the market for sale.  The amount of new listings almost doubled when you compare the 1st and 2nd quarters.  Homes are selling faster by 24 days which is a by-product of a seller’s market.  Interesting that the average and median price were less which could be due to more lower priced homes arriving on the market.  Time will tell if that has a depressing effect on overall prices.  So as expected the market has responded to the demand and supply has increased.  However, it still is a seller’s market, so if you are thinking of selling now is the time.

www.patrickandkatieryan.com , 831-238-8116 patrick.ryan@sothebyshomes.com, BRE#01957809

Comments (16)

Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Interesting data. One needs to sort out PG's larger homes and focus on average popular sized homes. I see a +13.2% avg price increase YTY and +12.4%- areal/sf.  The trend follows SF South Bay most neighborhoods. If SF Bay area can sustain two digit appreciation each year for the last 3.5 years, PG should be able to do it also.

 

Aug 31, 2015 03:30 AM
Bob Haywood
McGraw Realtors - Owasso, OK
BobHaywood.com

It would be interesting to see this data in a graph or chart form.  Here's to a strong 4th quarter

Aug 31, 2015 05:54 AM
John Pusa
Glendale, CA

Patrick - This is very good real estate report for Pacific Grove in the 2nd quarter.

Aug 31, 2015 06:14 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Patrick Ryan - Excellent real estate market update for the Pacific Grove area!  I hope buyers and sellers call you for more market insight and help!

Aug 31, 2015 07:12 AM
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Well you answered your own question with a head of the nail answer. It's a good time to be in real estate.

Aug 31, 2015 08:12 AM
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Welcome to ActiveRain. It's great to have you aboard. I look forward to reading more of your posts.

Aug 31, 2015 08:12 AM
Mery Fernandez Empire Network Realty Luxury Brokerage
Empire Network Realty INC. - Orlando, FL
The Rise of An Empire, Let's Build Yours!

Welcome to the world of Activerain, may your blogging  create a whole new chapter in your Real Estate Career.

Aug 31, 2015 02:42 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Hello Patrick, thanks for sharing a bit about Pacific Grove.

Welcome to Active Rain, looking forward to reading many more of your posts, let me know if there is anything that I can do to help as you get started here.
Bob

Aug 31, 2015 04:14 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Welcome to ActiveRain!  Your market is definitely steamy!

Aug 31, 2015 08:36 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Patrick Ryan nice first post....and I'm sure buyers and sellers in Pacific Grove will appreciate your efforts with researching this information for them....nicely done...

Aug 31, 2015 10:45 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

and welcome to ActiveRain.... I have to say that I'm very happy to see that you're a Rainmaker rather than a rainer.... your market report will be indexed by Google...the Google Juice that you'll have from using ActiveRain will put a smile on your face.... it's a great platform to learn, share, market and network...and I hope you enjoy every bit of it as much as I have over the past 6 years.... blog away....

Aug 31, 2015 10:47 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hello Patrick - welcome to Active Rain; it's nice to see an agent from Pacific Grove here again. Your market sounds like it's definitely heating up.

Sep 01, 2015 01:17 AM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Patrick - This is good information for both buyers and sellers in Pacific Grove, CA.

Sep 10, 2015 04:28 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Patrick - Congrats on your first post here in the Rain, and welcome to the community.

Sep 10, 2015 04:28 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Please know that the ambassadors, those with orange badges, are here to help and answer questions.

Sep 10, 2015 04:28 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Patrick Ryan Welcome to Active Rain!  As REALTORS who have been here (on and off) for close to 9 years, it's well worth it!

Sep 27, 2015 12:23 AM