Monterey Peninsula Real Estate – Where are we now?
Below is a graph that shows us where our real estate market is now and where it has been over the past 10 years (2000 through 2010). Each graph is for a particular city, including figures for single-family residential homes in Carmel, Monterey, Pacific Grove, Pebble Beach, and Seaside. We follow the number of home sales, the average home sale price, median home sale price, and the average days on market (DOM).
The variables indicated, help us see where we are at right now, what we can expect to purchase a home for, and how we can reasonably price our home for sale. For example, if my home was worth $1,000,000 in 2005 and the median sales price has decreased by 25% since 2005, then with all else remaining the same, I can expect to receive about $750,000 for my home today. On the same, and more encouraging, front, if a home that I want to buy was purchased for $1,000,000 in 2005 and the median sales price of homes in the area has decreased by 25%, then I know that $750,000 is a reasonable asking price from the seller.
Carmel:
Monterey:
Pacific Grove:
Pebble Beach:
Seaside:
The line graphs above show us where the real estate market on the Monterey Peninsula is today and where it has been over the past 10 years. I have the same statistics, including more detailed figures, in a spreadsheet format that I can EMAIL TO YOU UPON YOUR REQUEST.
Please enjoy this information and don’t hesitate to contact me to discuss it further. I look forward to your inquiries, our discussions, and helping you and your friends with your real estate needs.
~ Zach
El Dorado Realty Company 