Homes for Sale in Monterey, CA – July 4, 2011

Happy 4th of July!  Here is what is selling in Monterey, CA this week.  Visit ZachGoldman.com for more information.

City	Monterey
Dates Analyzed	June 27th through July 4th
Property Type	Single-Family Residential
# of Homes For Sale	83
Avg List Price	$                                 718,422
Median List Price	$                                 599,000
# of Homes Sold	4
Avg Asking Price	$                                 403,225
Avg Sales Price	$                                 391,500
Achievement Rate
Median Sales Price	$                                 360,500
Avg Days on Market	69
Notes	4 lovely properties sold in Monterey this week.  3 of the 4 properties sold for under $400k.  This is an indicator that people are looking for affordable properties in Monterey, possibly for investment purposes.

What’s Selling in Monterey; April 27, 2011

What’s selling this year in Monterey, CA?  Let’s take a look at real estate figures in Monterey, dating back to January 1, 2011…

Single-family residential homes:

• # Active: 87
• # Sold: 38
• Absorption Rate: 9.5 per month
• Current Inventory: 9 months
• Average List Price: $580,797
• Average Sales Price: $546,792 (-6%)
• Median Sales Price: $451,500
• Average Days on Market: 127

Townhouse/Condo:

• # Active: 18
• # Sold: 16
• Absorption Rate: 4 per month
• Current Inventory: 4.5 months
• Average List Price: $292,275
• Average Sales Price: $283,331 (-3%)
• Median Sales Price: $251,450
• Average Days on Market: 136

About 9 single-family residential homes are selling per month in Monterey.  Homes are selling in just under 130 days for about 6% less than their asking price.  9 months of available inventory tells us that we’re still in a buyer’s market.

Condos and townhomes seemed to be more appropriately priced, selling for only 3% less than their asking price.