Carmel-by-the-Sea & Carmel Point ◆ Greater Carmel ◆ Carmel Valley ◆ Pebble Beach
Carmel Highlands, Big Sur & South Coast ◆ Pacific Grove ◆ Monterey & Del Rey Oaks
Featured Property 8220 Manjares Road, Monterey
with Shelly Mitchell Lynch Broker
In Escrow
In Escrow
Dear Friends,
After a strong first quarter, April began with momentum—until the announcement of tariffs on April 7th triggered economic turbulence. May brought hesitation as buyers pulled back amid uncertainty. By June, the global market stabilized, and buyer activity returned. As we enter Q3, momentum is building again, and the data suggests a more balanced market ahead.
In Carmel-by-the-Sea, sellers still hold the advantage due to high demand and limited inventory. However, surrounding markets are shifting: inventory is growing, marketing periods are lengthening, and buyers have more options and leverage.
Now more than ever, it’s critical to understand the nuances of each market. My advice for clients in Carmel-by-the-Sea often differs dramatically from guidance for nearby areas. I’m always happy to discuss your specific situation and real estate goals.
Enjoy the rest of your summer, and keep an eye out for the next edition of our listing catalogue, 1913, hitting stands in early August. As always, I’m here if you need anything.
Best,
Market Update
Market Update
Carmel-by-the-Sea & Carmel Point
Carmel-by-the-Sea & Carmel Point
Usanditia ne endem. Es ellictor sitat andendam et quae omnimendamus il ium sapieni mustenis rerat pera et utes corerem nimus et, testrum faccusandus. Tate nonsequi doloris sus natem debis mos earcipsapid quia volum que si acestem unt quos volor mo ma veliquam harum re ne laut accus alic tentis eos a simpos apiet eum fuga. Ut quiae simincit aut omniantiis dem rerehenem ipit quat il ipsum re ni optatur, con necabore magnatur, niae. Omnim debit et occum quidel ius ma diorepeliat vendio enest, con core voloratiam qui officiis dolupiet lignate nisquas quam, corendae magniet officimos mi, que occat minus, ommo cone omnitem volorest eictian destem. At officie nditiore quassita idelit quiam, cuptatati dolorestio volorrovide sitiur as as expeles ratiasperis eaquo
Carmel-by-the-Sea saw 28 home sales close during Q2, which was just a few below what we typically see during this quarter. The average sales price of $4.53M was strong, boosted by three large sales over $13M. The median sales price of $2.8M was lower than we’ve seen over the last few years, due to an increase in home sales in the $1M-2M price segment. Total sales volume came in at a healthy level of $126.8M for the quarter, though down 11.0% from an incredibly strong Q2 2024. Inventory has not increased in this area as much as other areas, due to a continued strong demand for housing. The average days on the market of 52 days during Q2 is a typical number we see in today’s market. Carmel Realty Company Agents represented at least one side of the top six sales in Carmel-by-the-Sea in Q2.
Average Selling Price $4,528,458
Average Days on Market
52
$126,796,833
Units Sold
28 Sales Volume
Q2 2025 Market Breakdown
Number of Closed Sales By Quarter By Quarter
Did You Know?
Carmel-by-the-Sea is known for attracting various celebrities and artists. Clint Eastwood served as mayor of the village from 1986-1988. Other notable celebrities, artists and writers who have called Carmel home include Doris Day, John Denver, Ansel Adams and Jack London.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Greater Carmel
The areas outside of Carmel-by-the-Sea & Carmel Point
The greater Carmel area saw 20 sales during Q2, the most of any quarter in the region since Q2 2022. The average sales price was also high, finishing the quarter at $2.51M. These strong sales numbers and prices led to a strong sales volume total of $50.2M during the quarter, also the highest total since Q2 2022. The average days to sell jumped to 56 days from 28 days last quarter and 41 days in Q2 of last year. Carmel Realty Company represented the Seller of the highest sale and the Buyer for the second highest sale during the quarter
Selling Price $2,508,325
Volume $50,166,500
20
Q2 2025 Market Breakdown
Did You Know?
Robert Louis Stevenson modeled Treasure Island’s Spyglass Hill after Point Lobos State Reserve near Carmel. “Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Carmel Valley
Including the Santa Lucia Preserve
While the average sales price was strong during Q2 ($2.22M), Carmel Valley had a bit of an underwhelming quarter with just 41 home sales, down from 53 sales each of the past two Q2s. This led to an 11.5% drop in total sales volume year-over-year. The average days on market in the area for the quarter was 74 days, which is longer than every area on the peninsula besides Carmel Highlands/Big Sur. One reason for this is the increased inventory in the area with 89 active listings on the market, the most we have seen since mid-2020.
Average Selling Price $2,224,799
Average Days on Market
74
$91,216,750
Units Sold
41 Sales Volume
Q2 2025 Market Breakdown
Did You Know?
Monterey County has 349 vineyards, 82 bonded wineries and 65 tasting rooms. The wide range of climates allow Monterey County to grow over 30 different wine grape varietals.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Pebble Beach
Pebble Beach saw its first $10M+ sale of 2025, an offmarket sale double ended by Carmel Realty Company Agents. This along with a mix of other home sales led to a quarterly average sales price of $3.44M, the highest since Q2 2024. While 23 sales during Q2 were the most of any second quarter since 2021 and a number that is on par with what we have seen over the last three years, it is still 5-10 sales shy of a fully healthy Pebble Beach market. After poor total sales volume performances over the past two years, Pebble Beach is on pace to top each year’s sales volume in 2025. Carmel Realty Agents represented at least one side on each of the four highest sales in Pebble Beach during the quarter.
Units Sold
23
Q2 2025 Market Breakdown
Did You Know?
17-Mile Drive through Pebble Beach is one of only nine private toll roads in the country, and the only one west of the Mississippi.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Carmel Highlands, Big Sur & South Coast
The Carmel Highlands and Big Sur area experienced its second-best quarter over the last three years. Nine home sales during Q2 2025 accounted for $32.7M in total sales volume. This gave an average sales price of $3.63M for the quarter, up 4.2% from the last quarter and 12.2% from Q2 of last year. Five of the nine sales during the quarter took place in the Carmel Highlands, including a $14.75M sale in the Otter Cove community. Eight listings over $10M remain on the market, along with another nine over $5M.
Average Days on Market 90 Average Selling Price $3,630,444 versus Q1 2025 4.2% versus Q2 2024 12.2%
9 Sales Volume $32,674,000
Units Sold
Q2 2025 Market Breakdown
Did You Know?
Local settings from around the Monterey Peninsula have provided the backdrops for more than 180 films and television shows. You’ll recognize many scenes in HBO’s award winning mini-series Big Little Lies in Big Sur and the Carmel Highlands.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Pacific Grove
After a strong Q1, Pacific Grove had a more difficult second quarter of 2025. The average sales price of $1.55M during Q2 was the lowest over the past eight quarters dating back to Q2 2023. The 31 sales were up one sale from last year’s Q2 total, but came in below the Q1 2025 total of 32 sales. The total sales volume ($47.9M) was the lowest of each second quarter since Q2 2020. Inventory in Pacific Grove hasn’t yet seen the spike other areas have, with just 26 homes on the market heading into Q3. This is down from 29 active listings at the same time last year.
31 Sales Volume $47,905,851 Average Days on Market 38 Average Selling Price $1,545,350
Units Sold
Q2 2025 Market Breakdown
Did You Know?
Point Pinos Lighthouse in Pacific Grove is the oldest continually operating lighthouse on the West Coast.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Monterey & Del Rey Oaks
The second quarter is typically the highest selling quarter in Monterey. Q2 saw 59 home sales in the area, 14 more than Q1 2025. While this was a 31.1% increase in sales quarter over quarter, 59 sales was the lowest total in the second quarter since 2020. The average sales price ($1.35M) and median sales price ($1.13M) were strong during Q2, with each topping both the previous quarter and same quarter last year. Inventory in Monterey is sitting at its highest level since late 2019 with 82 active listings on the market. Carmel Realty Company currently lists four of the top five luxury listings in Monterey, three of which are in Monterra and the fourth in Pasadera.
Units Sold 59
Q2 2025 Market Breakdown
Did You Know?
Nearly a quarter million tons of sardines were processed on Cannery Row in 1945, the year John Steinbeck’s Cannery Row was published. Cannery Row was previously named Ocean View Avenue but was renamed to honor John Steinbeck’s well-known novel.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Authentic Market Leaders & True Industry Experts
As the market leading luxury brokerage, for over 100 years we have consistently delivered outstanding quality and service to our clients. Our handpicked team of agents share our commitment to quality, integrity, and the community. Unmatched experience, local knowledge, and collaboration has allowed our team to achieve the highest average agent production in the market year after year. When you work with Carmel Realty Company, you can take comfort in knowing you are working with an authentic expert in Monterey Peninsula real estate.
