We are three-and-a-half months into the year (2011). Everyone is sitting on the edge of their seat, anticipating a perspective; some sort of idea as to where we are in this economic roller coaster. The housing market plays a huge roll in our position. I try to share information in this blog that helps you get a feel for where you can position yourself on your seat…on the edge or comfortably against the back-rest.
Today I’m reporting the status of single-family residential real estate sales year-to-date on the Monterey Peninsula (Carmel, Monterey, Pacific Grove, Pebble Beach). Comparing the same time period in 2010 to 2011 is a nice way see where we were and where we’re going. As you can see below, inventory is up 26%, number of sales is down 29%, Foreclosures are up 26%, Short Sales are up 47%, average and median sales prices have remained steady, and average days on market (DOM) has increased by 13%.
| 2010 | 2011 | %Difference | ||
| New Listings | 322 | 435 | 26% | |
| Sold Listings | 148 | 115 | -29% | |
| Foreclosed Listings | 31 | 42 | 26% | |
| Short Sale Listings | 31 | 59 | 47% | |
| Avg Sales Price | $1,237,553 | $1,245,040 | 1% | |
| Median Sales Price | $797,500 | $800,000 | 0% | |
| Avg DOM | 114 | 131 | 13% | |
El Dorado Realty Company 