Third Quarter 2018 Market Reports | Monterey Coast Realty

Q3 2018 MARKET REPORT

Carmel Carmel Highlands Carmelby-the-Sea Carmel Valley Pebble Beach Big Sur & South Coast Monterey Pacific Grove Seaside Marina

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

Q3 2018 MARKET REPORT

Carmel Carmel Highlands Carmelby-the-Sea

$2,020,711 Average Selling Price

30%

vs Q3 2017

88

Units Sold

159

About Carmel

T

he Carmel market remained strong in the Q3 with 88 units sold and a 30% increase in average sales price. Fortyone percent of the sales YTD have been in the $1M-2M range although we have had 14 sales over $5M. With 5.1 months of inventory available the momentum should continue to year end.

2018 YTD Sales by Segment

Active Listings

5% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

vs Q2

11%

5% 26%

18%

5.1

41%

Months of Inventory

4%

vs Q2

<$1M 2M-3M 5M+

1M-2M 3M-5M

Average vs Median Sales Price by Quarter

Q3 2018

$2.1M

MARKET REPORT

$1.58M

Average vs Median Sales Price

$1,700,000 $1.05M

Carmel Carmel Highlands Carmelby-the-Sea

$0.53M

$1,275,000

Q1

Q2

2017 2018

$850,000

Q3 2017 Median 2018 Median

Closed Sales by Quarter & Days on Market

$425,000

120

90

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price

60

30

Number of Sales vs Days on Market 500

Q1

Q2

2017 2018

375

Q3

2017 Days on Market 2018 Days on Market

Closed Sales Volume

by Quarter

$190M

250 $143M

831.624.2300 montereycoastrealty.com

$95M

125

Dolores and Seventh Carmel-by-the-Sea

$48M

2013

2014 Days on Market

2015

2016 Number of Sales

2017 Q1 2017

Q2

Q3 2018

Q3 2018 MARKET REPORT

Carmel Valley

$1,164,045 Average Selling Price

17%

vs Q3 2017

32

Units Sold

64

About Carmel Valley

C

armel Valley also saw an increase in average sales price up 17% over Q3 of 2017 to $1,164,045. 32 properties changed hands down from Q2. There are only 64 active listings leaving 4.9 months of available inventory. The higher end is seeing more activity with 4 sales YTD in the $3-5M range compared to none last year.

2018 YTD Sales by Segment

4%

Active Listings

6% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

4%

vs Q2

4.9

48% 43%

Months of Inventory

6%

vs Q2

<$1M 2M-3M 5M+

1M-2M 3M-5M

Average vs Median Sales Price

by Quarter

Q3 2018

$1.3M

MARKET REPORT

$0.98M

Average vs Median Sales Price

$1,200,000

Carmel Valley

$0.65M

$0.33M

$900,000

$600,000

Q1

Q2

2017 2018

2017 Median 2018 Median

Q3

Closed Sales by Quarter & Days on Market

$300,000

90

60

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price 30

Number of Sales vs Days on Market 130

Q1 2017 2018

97.5

Q2

Q3

2017 Days on Market 2018 Days on Market

Closed Sales Volume

by Quarter

$50M

65 $38M

831.624.2300 montereycoastrealty.com

$25M

32.5

Dolores and Seventh Carmel-by-the-Sea

$13M

2013

2014 Days on Market

2015

2016 Number of Sales

2017 Q1

Q2 2017

Q3 2018

Q3 2018 MARKET REPORT

Pebble Beach

$4,018,843 Average Selling Price

76%

vs Q3 2017

35

Units Sold

93

About Pebble Beach

T

he Pebble Beach market remained steady with $140M in sales volume up 38.6% over Q2.

The $2M+ market remains strong commanding 35% of the YTD sales overall in the Q3. There are 93 active listings up 27% over Q2. This additional inventory should allow for a strong ďŹ nish in 2018.

2018 YTD Sales by Segment

12%

Active Listings

27% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

14%

13%

vs Q2

13.3

10% 50%

Months of Inventory

118%

vs Q2

<$1M 2M-3M 5M+

1M-2M 3M-5M

Average vs Median Sales Price

by Quarter

Q3 2018

$5M

MARKET REPORT

$3.75M

Average vs Median Sales Price

$2,600,000

Pebble Beach

$2.5M

$1.25M

$1,950,000

Q1

Q2

2017 2018

$1,300,000

Q3

2017 Median 2018 Median

Closed Sales by Quarter & Days on Market

$650,000

160

120

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price

80

40

Number of Sales vs Days on Market 140

Q1 2017 2018

Q2

Q3

2017 Days on Market 2018 Days on Market

105 Closed Sales Volume

by Quarter

$150M

70 $113M

831.624.2300 montereycoastrealty.com

$75M

35

Dolores and Seventh Carmel-by-the-Sea

$38M

2013

2014 Days on Market

2015

2016 Number of Sales

2017 Q1

Q2 2017

Q3 2018

Q3 2018 MARKET REPORT

Big Sur & South Coast

$4,537,500 Average Selling Price

179%

vs Q3 2017

2

About Big Sur

T

wo properties closed, one for $7.8M and one for $1.2M. 83% of the 6 sales YTD have been in the $1-2M range. New listings stayed static without activity. At the current rate there is 12 months of inventory available.

Units Sold 2018 YTD Sales by Segment

12

17%

Active Listings

27% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

vs Q2

12

83%

Months of Inventory

118%

vs Q2

<$1M 2M-3M 5M+

1M-2M 3M-5M

Average vs Median Sales Price

by Quarter

Q3 2018

$5M

MARKET REPORT

$3.75M

Average vs Median Sales Price

$4,000,000 $2.5M

Big Sur & South Coast

$1.25M

$3,000,000

Q1

Q2

2017 2018

$2,000,000

Q3

2017 Median 2018 Median

Closed Sales by Quarter & Days on Market

$1,000,000

700

525

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price

350

175

Number of Sales vs Days on Market 500 Q1

Q2

2017 2018

Q3

2017 Days on Market 2018 Days on Market

375 Closed Sales Volume

by Quarter

$10M

250 $8M

831.624.2300 montereycoastrealty.com

$5M

125

Dolores and Seventh Carmel-by-the-Sea

$3M

2013

2014 Days on Market

2015

2016

2017

Number of Sales

Q1

Q2 2017

Q3 2018

Q3 2018 MARKET REPORT

Monterey

$938,693 Average Selling Price

14%

vs Q3 2017

78

Units Sold

105

Active Listings

12% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

About Monterey

A

verage sales price saw a 14% increase over last year with 70% of the sales YTD being under $1M. New sales were down slightly but new listings were up 12% leaving 4.8 months of available inventory. Monterey is poised for a strong ďŹ nish in 2018.

2018 YTD Sales by Segment

1% 3% 26%

vs Q2 70%

4.8

Months of Inventory

6%

vs Q2

<$1M 2M-3M 5M+

1M-2M 3M-5M

Average vs Median Sales Price

by Quarter

Q3 2018

$1M

MARKET REPORT

$0.75M

Average vs Median Sales Price

$900,000 $0.5M

Monterey

$0.25M

$675,000

Q1

Q2

2017 2018

$450,000

Q3

2017 Median 2018 Median

Closed Sales by Quarter & Days on Market

$225,000

90

67.5

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price

45

22.5

Number of Sales vs Days on Market 400 Q1

Q2

2017 2018

Q3

2017 Days on Market 2018 Days on Market

300 Closed Sales Volume

by Quarter

$80M

200 $60M

831.624.2300 montereycoastrealty.com

$40M

100

Dolores and Seventh Carmel-by-the-Sea

$20M

2013

2014 Days on Market

2015

2016

2017

Number of Sales

Q1

Q2 2017

Q3 2018

Q3 2018 MARKET REPORT

Pacific Grove

$1,105,989 Average Selling Price

10%

vs Q3 2017

44

About Pacific Grove

A

verage sales price passed the $1M mark to $1,105,989 in Q3 up 10% from last year. New sales were down slightly but with a 25% increase in active listings over Q2 sales should pick up for the Q4.

Units Sold 2018 YTD Sales by Segment

41

1% 5%

Active Listings

24% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

34%

vs Q2

60%

2.7

Months of Inventory

23%

vs Q2

<$1M 2M-3M 5M+

1M-2M 3M-5M

Average vs Median Sales Price

by Quarter

Q3 2018

$1.2M

MARKET REPORT

$0.9M

Average vs Median Sales Price

$1,100,000 $0.6M

Pacific Grove

$0.3M

$825,000

Q1

Q2

2017 2018

$550,000

Q3

2017 Median 2018 Median

Closed Sales by Quarter & Days on Market

$275,000

90

67.5

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price

45

22.5

Number of Sales vs Days on Market 200 Q1

Q2

2017 2018

Q3

2017 Days on Market 2018 Days on Market

150 Closed Sales Volume

by Quarter

$70M

100 $53M

831.624.2300 montereycoastrealty.com

$35M

50

Dolores and Seventh Carmel-by-the-Sea

$18M

2013

2014 Days on Market

2015

2016

2017

Number of Sales

Q1

Q2 2017

Q3 2018

Q3 2018 MARKET REPORT

Seaside

$560,465 Average Selling Price

5%

vs Q3 2017

50

Units Sold

28

About Seaside

I

nventory moved fast in Q3. It took an average of 25 days for a properties to sell, the shortest timeframe on the Monterey Peninsula. 50 properties changed hands, up 16% from last year.

Sales YTD are strongest in the $400600K price segment. Inventory is low with only 2.8 months of inventory available at the end of Q3.

2018 YTD Sales by Segment

9%

Active Listings

21% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

5%

20%

vs Q2

2.8

65%

Months of Inventory

100%

vs Q2

>$ 400k $400-600k $600-800k $800k-1M

Average vs Median Sales Price

by Quarter

Q3 2018

$0.58M

MARKET REPORT

$0.56M

Average vs Median Sales Price

$600,000 $0.53M

Seaside

$0.51M

$450,000

Q1

Q2

2017 2018

$300,000

Q3

2017 Median 2018 Median

Closed Sales by Quarter & Days on Market

$150,000

70

52.5

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price

35

17.5

Number of Sales vs Days on Market 200 Q1

Q2

2017 2018

Q3

2017 Days on Market 2018 Days on Market

150 Closed Sales Volume

by Quarter

$36M

100 $27M

831.624.2300 montereycoastrealty.com

$18M

50

Dolores and Seventh Carmel-by-the-Sea

$9M

2013

2014 Days on Market

2015

2016

2017

Number of Sales

Q1

Q2 2017

Q3 2018

Q3 2018 MARKET REPORT

Marina

$610,679 Average Selling Price

8%

vs Q3 2017

59

Units Sold

About Marina

M

arina remains a strong market with sales up over 25% over Q3 last year. It took an average of 36 days to sell a property in Marina and properties are in short supply. There is only 1.4 months of available inventory currently on the market. 88% of the sales are in the $400-800K range.

2018 YTD Sales by Segment

33

7% 5%

Active Listings

6% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

vs Q2

41%

47%

1.4

Months of Inventory

44%

vs Q2

>$ 400k $400-600k $600-800k $800k-1M

Average vs Median Sales Price

by Quarter

Q3 2018

$0.7M

MARKET REPORT

$0.53M

Average vs Median Sales Price

$600,000 $0.35M

Marina

$0.18M

$450,000

Q1

Q2

2017 2018

$300,000

Q3

2017 Median 2018 Median

Closed Sales by Quarter & Days on Market

$150,000

60

45

2013

2014

2015

Average Sale Price

2016

2017

Median Sale Price

30

15

Number of Sales vs Days on Market 180 Q1

Q2

2017 2018

Q3

2017 Days on Market 2018 Days on Market

135 Closed Sales Volume

by Quarter

$40M

90 $30M

831.624.2300 montereycoastrealty.com

$20M

45

Dolores and Seventh Carmel-by-the-Sea

$10M

2013

2014 Days on Market

2015

2016

2017

Number of Sales

Q1

Q2 2017

Q3 2018