Q3 2026 Market Report
DM
L U X U R Y
L I V I N G
The Monterey Peninsula carried its spring momentum through the summer. In total, 289 homes closed across the Peninsula in Q3 — just shy of Q2's busy pace, up 9% from a year ago, and the most third-quarter sales since 2021! Total sales volume hit $573M, up 8% year over year and the strongest third quarter since 2021, while the average sales price held steady at $2.3M – a 1% change from last quarter and up 8% from a year ago. The luxury market led the headlines again. Pebble Beach recorded a $24M closing — its third straight quarter with at least one sale above $20M — and its third consecutive quarter above $100M in volume. In Carmel-by-the-Sea, a $15.5M sale helped lift the average price to $4.8M, the highest average since Q4 2024, while Greater Carmel led the Peninsula with $112M in volume. Beyond the trophy properties, Monterey had its busiest quarter since Q1 2022, Carmel Valley posted its strongest dollar volume in more than three years, and Seaside's average price topped $1M for the first time since Q2 2024. Meanwhile, buyers became more deliberate. Days on market lengthened to 65 from 55 last quarter, price reductions rose to 245 — the most of any quarter since we began tracking them in 2020 — and sellers averaged 97% of list price. 385 new listings came to market, down from Q2's surge of 466 but on par with a year ago, keeping selection healthy. The familiar pattern held: well-priced homes drew strong interest and often sold at or above asking, while homes priced ahead of the market sat longer and negotiated harder. Looking ahead to the close of 2026, the Peninsula enters fall with solid demand, steady pricing, and more room for negotiation than this spring. For Sellers, pricing and presentation matter more than ever -- and for Buyers, patience and preparation can certainly pay off. Navigating each micro-market with strategy and care is precisely the work I love most. If you or someone you know is curious about the market or contemplating a move, I would be honored to help in the next chapter! All my best,
- Devon
DEVON MEEKER 650.759.4193 REALTOR | DRE#02074131 MONTEREY COAST REALTY
my Active Listings Carmel 1 bed | 1 Bath | 1,221 sq ft | 15.54 acres
Carmel Valley 4 beds | 3 Baths | 3,060 sq ft | 2.5 acres
LP $3.5M
LP $2.65M
Carmel Valley 4 beds | 3.5 Baths | 2 ,924 sq ft | 2.5 acres
Marina under contractrepresenting seller 4 beds | 3 BathsSalinas | 2,629 sq ft | .21 acres
LP $2.395M
LP $1.769m
Carmel 3 beds | 2 Baths | 2,108 sq ft | .81 acres
Hollister 4 beds | 3 Baths | 2,441 sq ft | .19 acres
LP $1.425M
LP $1.1M
Carmel Valley 2 beds | 2 Baths | 1,632 sq ft | 1.01 acres with Adu
under contractrepresenting seller Carmel-by-the-Sea 3 beds | 3 BathsSalinas | 2,400 sq ft | .17 acres
coming soon
coming soon
TABLE OF CONTENTS Carmel by the Sea
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Greater Carmel
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Carmel Valley
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Pebble Beach
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Monterey Pacific Grove Seaside
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Marina
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Corral & San Benancio
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18
Carmel - by - the - Sea Carmel-by-the-Sea traded volume for value in Q3. Fifteen homes changed hands — down from 28 in Q2 and 25 a year ago — bringing total volume to $72M. What lacked in activity, it made up for in price. The average sales price climbed 32% to $4.8M, up 45% year over year and the highest since Q4 2024, while the median rose to $3.65M, 11% above a year ago. Not a single home sold below $2.5M, and a $15.5M closing crowned the quarter. Buyers, however, came to the table with more leverage. Just 20% of sales closed at or above list price, down from 39% in Q2, and homes averaged 53 days on market. New listings slowed to 16, narrowing selection heading into fall. Overall, Q3 painted a portrait of a smaller, more rarefied market — one where quality still commands a premium.
SALES BY SEGMENT 12.5%
1 4
$10M+
$2M $3M 4 25%
$5M $10M
15 TOTAL SALES
6 $3M - $5M 37.5%
25%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
46%
40%
Average Sales Price $4.8M
32%
45%
Days on Market 53
11%
32%
Total $ Sales $72M
30%
13%
A V E R A G E
V S . M E D I A N
Homes Sold 15
$7.00000M $7M $6.00000M $6M $5.00000M $5M $4.00000M $4M $3.00000M $3M $2.00000M $2M
$1M $1.00000M $0
Q3'24 Q4
Q1
Q2
$3,137,,500
Q3'25
Q4
Q1
Q2
$3,295,000
Q3'26
$3,650,000
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
93%
Average sale to list price
16
$15.5M
2.5M
Highest Sale
Lowest Sale
06
02
New listings
Price Drops
Cancelled Escrows
vs 30 in Q2'26
vs 08 in Q2'26
vs 03 in Q2'26
vs 24 in Q3‘25
vs 15 in Q3‘25
vs 01 in Q3‘25
Greater Carmel Greater Carmel gained momentum in Q3. Thirty-three homes closed, up 18% from Q2 and the most since Q3 2025, lifting total volume 15% to $112M — the highest since Q2 2025 and the largest of any Peninsula market this quarter. Values held firm. The average sales price came in at $3.4M, essentially even with Q2, while the median settled at $2.55M; both stand 17% above a year ago. Activity spanned the full spectrum, from ten sales between $1M and $2M to an $11.5M closing at the top. Sellers answered with 64 new listings, the most since Q3 2024, and buyers took their time: days on market lengthened to 95 and price reductions rose to 36. Still, 30% of homes sold at or above list price, up from 18% a year ago. Overall, Q3 revealed a market of real depth — firmer pricing, broader choice, and steady demand for wellpositioned homes.
SALES BY SEGMENT 12.1%
4 $5M - $10M
27.3%
9 $3M $5M
10 $1M - $2M
33 TOTAL SALES
10 $2M - $3M 30.3%
30.3%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
18%
8%
Average Sales Price $3.4M
3%
17%
Days on Market 95
11%
19%
15%
7%
Homes Sold 33
Total $ Sales $112M A V E R A G E
V S . M E D I A N
$4.00000M $4M
$3.00000M $3M
$2.00000M $2M
$1M $1.00000M
$0
Q3'24 Q4
Q1
Q2
$2,762,500
Q3'25
Q4
Q1
Q2
$2,176,000
Q3'26
$2,550,000
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
96%
Average sale to list price
$11.5M
$1.4M
Highest Sale
Lowest Sale
64
36
New listings
Price Drops
Cancelled Escrows
vs 62 in Q2'26
vs 31 in Q2'26
vs 02 in Q2'26
vs 61 in Q3‘25
vs 34 in Q3‘25
vs 06 in Q3‘25
07
Carmel Valley Carmel Valley delivered its strongest dollar volume in more than three years! Twenty-one homes closed — up from 18 in Q2 and 20 a year ago — lifting total volume 29% to $44M, the highest since Q2 2023. At the top, a $9.995M closing lifted the average price 10% to $2.1M, 11% above a year ago. Setting that sale aside, the average lands near $1.7M. The median, a truer read on the broader Valley, eased 10% to $1.5M, with ten of 21 sales between $1M and $2M. After a brisk spring, Carmel Valley settled into a more measured pace. Days on market stretched to 113 from 60, the share of homes selling at or above list price eased to 24% from 44%, and price reductions climbed to 28. Thirtythree new listings kept selection healthy. Overall, Q3 rewarded thoughtfully priced homes while affording buyers more room to negotiate — a market where strategy matters more than ever.
SALES BY SEGMENT 8.7% 13%
1 1
8.7%
$3M $5M
$5M $10M
3 <$1M
21 6 26.1%
$2M $3M
TOTAL SALES 10 $1M - $2M 43.5%
6
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
17%
5%
Average Sales Price $2.1M
10%
11%
Days on Market 113
86%
72%
Total $ Sales $44M
29%
17%
A V E R A G E
V S . M E D I A N
Homes Sold 21
$2.50000M
$2M $2.00000M $1.5M $1.50000M
$1M $1.00000M
$500K $0.50000M
$0
Q3'24 Q4
Q1
Q2
$1,737,500
Q3'25
Q4
Q1
Q2
Q3'26
$1,500,000
$1,657,500
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
96%
Average sale to list price
$10M
$485K
Highest Sale
Lowest Sale
33
28
New listings
Price Drops
Cancelled Escrows
vs 36 in Q2'26
vs 21 in Q2'26
vs 04 in Q2'26
vs 31 in Q3‘25
vs 23 in Q3‘25
vs 04 in Q3‘25
07
Pebble Beach Pebble Beach extended its remarkable luxury run into Q3. Twenty-three homes closed, up 21% from a year ago, generating $105M in volume. That makes three consecutive quarters above $100M, a streak not seen since early 2022! The top of the market set the tone again. A $24M closing marked the third straight quarter with a sale above $20M, and was one of two sales above $10M this quarter. The average price eased 15% from Q2 landing at $4.6M, while the median held steady at $2.8M, up 4% year over year. Beneath the headlines, the market quickened. Days on market fell to 50 from 87, and 43% of homes sold at or above list price, the highest share since Q2 2025. Overall, Q3 showed Pebble Beach’s strength broadening, with enduring demand at the very top paired with quicker, more competitive sales across its core.
SALES BY SEGMENT 8.7%
17.4%
2 2
8.7%
4
$10M+
$5M $10M
5 21.7%
$3M $5M
$1M-2M
23 TOTAL SALES 10 $2M - $3M 43.5%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
0%
21%
Average Sales Price $4.6M
15%
3%
Days on Market 50
42%
15%
15%
17%
Homes Sold 23
Total $ Sales $105M A V E R A G E
V S . M E D I A N
$7.00000M $7M $6.00000M $6M $5.00000M $5M $4.00000M $4M $3.00000M $3M $2.00000M $2M $1.00000M $1M $0
Q3'24 Q4
Q1
Q2
$2,850,000
Q3'25
Q4
Q1
Q2
$2,710,000
Q3'26
$2,815,968
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
96%
Average sale to list price
$24M
$1.6M
Highest Sale
Lowest Sale
37
16
New listings
Price Drops
Cancelled Escrows
vs 36 in Q2'26
vs 12 in Q2'26
vs 04 in Q2'26
vs 37 in Q3‘25
vs 23 in Q3‘25
vs 07 in Q3‘25
04
Monterey Monterey carried its spring rebound well into summer. Fifty-nine homes closed — up 16% from Q2, 40% from a year ago, and the most of any quarter since Q1 2022 — driving total volume to $84M, up 32% year over year. Pricing held steady beneath the surge in activity. The average sales price came in at $1.4M, while the median rose 5% to $1.25M. The heart of the market did the heavy lifting, with 37 of 59 sales landing between $1M and $2M. Competition was the defining story. More than half of homes — 53% — sold at or above list price, the highest share since Q1 2024, as sellers averaged 99% of asking. Days on market held at 47, and 63 new listings kept buyers well supplied. Overall, Q3 confirmed Monterey's momentum: its busiest quarter in more than four years, with well-priced homes drawing multiple buyers.
SALES BY SEGMENT No sales between $3-$5m this quarter!
6.5%
9.7%
1
9.7%
6
$5M+
6
<$800K
$2M - $3M
9 $800K $1M
59 15 24.2%
TOTAL SALES
$1.5M $2M
22 $1M - $1.5M 35.5%
10
14.5%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
16%
40%
Average Sales Price $1.4M
5%
6%
Days on Market 47
3%
36%
Total $ Sales $84M
10%
32%
A V E R A G E
V S . M E D I A N
Homes Sold 59
$2M $2.00000M
$1.5M $1.50000M
$1M $1.00000M
$500K $0.50000M
$0
Q3'24 Q4
Q1
Q2
$1,287,000
Q3'25
Q4
Q1
Q2
$1,425,000
Q3'26
$1,250,000
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
99%
Average sale to list price
$5M
$749K
Highest Sale
Lowest Sale
63
41
New listings
Price Drops
Cancelled Escrows
vs 82 in Q2'26
vs 33 in Q2'26
vs 09 in Q2'26
vs 61 in Q3‘25
vs 38 in Q3‘25
vs 10 in Q3‘25
13
Pacific Grove Pacific Grove took a breath in Q3 after its record-setting spring. Thirty-one homes closed — down from 42 in Q2 but one more than a year ago — bringing total volume to $43M. The softer numbers owe much to a shift in mix. With no sales above $3M (compared with five in Q2) and a top sale of $2.7M, the average price eased 20% to $1.4M and the median 10% to $1.37M. Buyers moved more deliberately, with days on market stretching to 61, the longest in our records dating to 2020. Yet sellers still averaged 98% of asking, and new listings fell 40% to 32, thinning supply heading into fall. Overall, Q3 felt more like a pause than a turn — and tighter inventory could tilt the advantage back toward sellers into year-end.
SALES BY SEGMENT 6.3%
9.4%
28.1%
9 $1.5M $2M
3
1
$2M $3M
<$800K
6 $800K$1M
31 TOTAL SALES
12 $1M - $1.5M 37.5%
12
18.8%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
26%
3%
Average Sales Price $1.4M
20%
23%
Days on Market 61
45%
129%
Total $ Sales $43M
41%
20%
A V E R A G E
V S . M E D I A N
Homes Sold 31
$2.00000M
$1.5M $1.50000M
$1M $1.00000M
$500K $0.50000M
$0
Q3'24 Q4
Q1
Q2
$1,500,000
Q3'25
Q4
Q1
Q2
$1,440,000
Q3
$1,370,000
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
98%
Average sale to list price
$2.7M
$712K
Highest Sale
Lowest Sale
32
31
New listings
Price Drops
Cancelled Escrows
vs 53 in Q2'26
vs 24 in Q2'26
vs 10 in Q2'26
vs 55 in Q3‘25
vs 22 in Q3‘25
vs 07 in Q3‘25
08
Seaside Seaside kept its momentum through the summer. Thirtyfive homes closed — up 17% from Q2, 21% from a year ago, and the most since Q4 2025 — lifting total volume 39% year over year to $35M. The upper end drove the quarter's gains. Four homes sold above $2M (all located in “The Enclave”), up from one in Q2, pushing the average price to $1M. The median held steady at $800K, up 4% year over year, as the heart of the market continued to trade between $600K and $1M. Competition cooled slightly from Q2's peak but remained spirited: 49% of homes sold at or above list price, compared with 28% a year ago, and sellers averaged 99% of asking. Overall, Q3 showed a Seaside market coming of age — steady entry-level demand, paired with growing confidence at the top.
SALES BY SEGMENT 11.4% 13.6%
9.1%
4
2
$2M+
<$600K
1 $1.5M $2M
5 13.6%
$1M $1.5M
35 TOTAL SALES
10 $800K - $1M 22.7%
14
13 $600K $800K
29.5%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs 2 ‘26
vs Q3 ‘25
Homes Sold 35
17%
21%
Average Sales Price $1M
5%
15%
Days on Market 48
46%
6%
Total $ Sales $35M
23%
39%
A V E R A G E
V S . M E D I A N
$1.20000M $1.2M $1.00000M $1M $0.80000M $800K $0.60000M $600K $0.40000M $400K
$200K $0.20000M $0
Q3'24 Q4
Q1
Q2
$830,000
Q3'25
Q4
Q1
Q2
$769,000
Q3'26
$800,001
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
99%
Average sale to list price
$2.4M
$475K
Highest Sale
Lowest Sale
43
21
New listings
Price Drops
Cancelled Escrows
vs 50 in Q2'26
vs 23 in Q2'26
vs 07 in Q2'26
vs 47 in Q3‘25
vs 19 in Q3‘25
vs 08 in Q3‘25
07
Marina Marina held close to its record pace in Q3. Forty-two homes closed — just two shy of Q2's multi-year high and up 14% from a year ago — producing $44M in total volume. Pricing remained a model of consistency. The average sales price held at $1M, flat with both Q2 and a year ago, while the median edged up to $955K. The $1M–$1.5M range was the busiest segment with 18 sales, or 43%, and a $2.375M closing marked the quarter’s top sale. Inventory continued to build, with 66 new listings — more than double a year ago — and buyers grew more discerning. Days on market rose to 62, the slowest since Q1 2023, while 43% of homes sold at or above list price, down from 61% in Q2. Overall, Q3 showed a Marina market finding its balance, where thoughtful pricing makes all the difference.
SALES BY SEGMENT 7.5%
7.5%
1
$1.5M $2M
18 $1M $1.5M 34%
9.4%
1
2
$2M+
<$600
5 $600K $800K
42 TOTAL SALES 15 $800K - $1M
16
13.2%
28.3%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
Homes Sold 42
5%
14%
Average Sales Price $1M
0%
0%
Days on Market 62
5%
21%
Total $ Sales $44M
5%
14%
A V E R A G E
V S . M E D I A N
$1.2M $1.20000M $1M $1.00000M $800K $0.80000M $0.60000M $600K $0.40000M $400K $0.20000M $200K $0
Q3'24 Q4
Q1
Q2
$890,000
Q3'25
Q4
Q1
Q2
$930,000
Q3'26
$955,000
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
98%
Average sale to list price
$2.4M
$507K
Highest Sale
Lowest Sale
66
45
New listings
Price Drops
Cancelled Escrows
vs 77 in Q2'26
vs 36 in Q2'26
vs 07 in Q2'26
vs 31 in Q3‘25
vs 23 in Q3‘25
vs 04 in Q3‘25
08
Corral& San Benancio Corral & San Benancio settled into a steadier rhythm in Q3. Thirty homes closed — three fewer than Q2 but up 15% from a year ago — bringing total volume to $35M, up 7% year over year. The quarter's mix tilted toward more accessible pricing. With no sales above $2M (compared with three in Q2) and 13 sales between $800K and $1M, the average price eased 16% to $1.2M and the median to $1.025M. After Q2's brisk clip, the pace relaxed. Days on market rose to 53 from 33. Sellers still averaged 98% of asking, while 31 new listings kept supply in check. Overall, Q3 reflected a shift in mix more than a change in demand — with solid year-over-year sales and buyers finding value in the heart of the market.
SALES BY SEGMENT 9.4%
1
18.8%
6
$600K800K
$1.5M $2M
30 10 $1M $1.5M 31.3%
18
TOTAL SALES
13 $800K $1M
40.6%
Q 3
2 0 2 6
M A R K E T
O V E R V I E W
vs Q2 ‘26
vs Q3 ‘25
9%
15%
Average Sales Price $1.2M
16%
7%
Days on Market 53
63%
56%
Total $ Sales $35M
23%
7%
A V E R A G E
V S . M E D I A N
Homes Sold 30
$1.40000M
$1.2M $1.20000M $1M $1.00000M $800K $0.80000M $600K $0.60000M $400K $0.40000M $200K $0.20000M $0
Q3'24 Q4
Q1
Q2
$1,095,000
Q3'25
Q4
Q1
Q2
$1,260,000
Q3'26
$1,025,000
AVERAGE SALES PRICE
MEDIAN
OTHER NUMBERS OF NOTE
98%
Average sale to list price
$2M
$700K
Highest Sale
Lowest Sale
31
21
New listings
Price Drops
Cancelled Escrows
vs 40 in Q2'26
vs 21 in Q2'26
vs 04 in Q2'26
vs 37 in Q3‘25
vs 24 in Q3‘25
vs 08 in Q3‘25
04
Devon Meeker 650.759.4193 Devon@devonmeeker .com DRE #02074131