MONTEREY CALIFORNIA REAL ESTATE MARKET REPORT

Monterey California Home Prices

Real Estate is local and we have to look individually at each community.  It is reported that home prices in California will increase slightly in 2012, and that the average home price is $200,000.  It is a fact that prices are at levels we saw in 2001 and interest rates are at levels not seen since 1951.  Yes, this makes it an excellent time to buy.  Take advantage of low interest rates, don't wait because you think prices are going to go down even more.  

Low interest rates help you to buy substantially more than you could if the interest rate were 6%.  Interest rates are tricky and go up and down...so don't wait.

In saying that real estate is local, it is imperative to also realize that each community within Monterey County is also local.  The market in Seaside, is very different than Pebble Beach, and Monterey, Pacific Grove and Carmel have their own numbers and averages.

BELOW IS A MARKET REPORT FOR MONTEREY 3 BEDROOM 2 BATH HOMES SOLD IN THE LAST 90 DAYS

I did not narrow by square footage, only bed/baths so that we could get a good cross section of what has sold in the different price ranges.

Sold (Closed Sale) Price Range # Listings Dollar Volume Average Price Median Price DOM

$225,000 - $250,000 1 $240,000 $240,000 $240,000 107

$275,000 - $300,000 4 $1,161,199 $290,300 $288,100 72

$300,000 - $325,000 2 $616,000 $308,000 $308,000 196

$325,000 - $350,000 5 $1,715,000 $343,000 $345,000 88

$350,000 - $375,000 2 $750,000 $375,000 $375,000 154

$375,000 - $400,000 1 $395,000 $395,000 $395,000 147

$400,000 - $425,000 3 $1,214,550 $404,850 $405,000 42

$425,000 - $450,000 6 $2,651,000 $441,833 $441,000 46

$450,000 - $475,000 1 $460,000 $460,000 $460,000 107

$475,000 - $500,000 4 $1,984,000 $496,000 $499,500 61

$500,000 - $550,000 8 $4,170,000 $521,250 $520,000 204

$550,000 - $600,000 1 $559,000 $559,000 $559,000 3

$600,000 - $650,000 2 $1,251,500 $625,750 $625,750 78

$650,000 - $700,000 2 $1,348,000 $674,000 $674,000 84

$1,400,000 - $1,500,000 1 $1,450,000 $1,450,000 $1,450,000 502

Totals: 43 $19,965,249 $464,308 $442,000 114

In taking this apart I can tell you that 43 homes sold in the last 90 days priced between $240,000 and $1,450,000.

Average Sale Price is $464,308

Median Sale Price is $442,000

Average Days On The Market 114

Just a note: If you search other cities within Monterey County, you will get very different results:

You can do your own search at my website below:

SEARCH THE MLS FOR MONTEREY CALIFORNIA HOMES FOR SALE