Monterey County Sales Comparison for 3rd Qtr. 2005 thru 2008
Yes, you read that right sales in 2008 were only slightly below 2005 sales! The big difference is currently sales are low end REO properties mostly in Seaside and Salinas. Many of these properties are getting multiple offers. Prices in the Seaside market are often 50 to 60% of the sales amt for the same properties in 2005. Unlike some other areas, Monterey County is working thru it's inventory of bank owned properties. It is now a Seller's market in Seaside and parts of Salinas.
The inventory of listings was considerably lower in 2005, then climbed fast and now in 2008 is about 173% of the 2005 number.
Quantity of sales peaked as well as prices in 2005 at 1034 sales, then dropped to 551 for 2006 and then even lower to 360 for the same quarter in 2007. Now the 3rd Quarter 0f 2008 at 941 is not much below the 2005 amt.
I will be doing an annual comparison of sales for the same 4 years when the statistics are out. Monterey County is a very diverse area. If you are interested in a specific area call or email me for additional information so that you can get the best value when you buy! (831) 277-9939 or my monterey real estate site
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
