2019 MARKET REPORT
Carmelby-the-Sea, Carmel Point Greater Carmel Carmel Valley Pebble Beach Carmel Highlands, Big Sur & South Coast Monterey Pacific Grove Seaside Marina 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
2019 MARKET REPORT
Our Significant Sales of 2019 26206 Mesa Drive, Carmel • Represented Seller
410 Laurel Lane, Salinas • Represented Buyer & Seller
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea 2822 Raccoon Trail, Pebble Beach • Represented Buyer & Seller
2019 MARKET REPORT
Table of Contents Carmel-by-the-Sea, Carmel Point ��������������������������������������� 4 Greater Carmel ������������������������������������ 6 Carmel Valley �������������������������������������� 8 Pebble Beach �������������������������������������� 10 Carmel Highlands, Big Sur & South Coast ������������������������� 12 Monterey ������������������������������������������� 14 Pacific Grove �������������������������������������� 16 Seaside ���������������������������������������������� 18 Marina ����������������������������������������������20 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
3
2019 MARKET REPORT
Carmelby-the-Sea, Carmel Point
$2,185,783 Average Selling Price
6.9%
vs 2018
147 Units Sold
11%
vs 2018
$321M Sales Volume
3% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs 2018
76 Days on Market
About Carmel-by-the-Sea
C
armel-by-the-Sea and Carmel Point performed quite well throughout 2019. While most of our other markets experienced more volatility in units sold and pricing quarter by quarter, Carmel was steady all year. The total number of sales went up 11% while the average sales price decreased by 7% and total sales volume increased 3%. There was particular strength in the number of transactions in the $1-2M range of the market but the rest of the price ranges also performed well. 2019 Sales by Segment
5% 10% 11%
45%
29%
<$1M | 15 1M-2M | 66 2M-3M | 43 3M-5M | 16 5M+ | 7
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$2.75M
$2M
Average vs Median Sales Price
$2.5M
$1.25M
Carmelby-the-Sea, Carmel Point
$2M Q1
Q2 2018 2019
$1.5M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
40
30
2015
2016
2017
Average Sale Price
2018
2019
Median Sale Price
20
10
Days on Market 100 Q1
Q2
Q3
2018
75
Q4 2019
Closed Sales Volumeâ&#x20AC;¨ by Quarter
$100M
50
$75M
$50M
831.624.2300 montereycoastrealty.com
25
Dolores and Seventh Carmel-by-the-Sea
$25M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
5
2019 MARKET REPORT
Greater Carmel
$1,478,214 Average Selling Price
3.9%
vs 2018
77 Units Sold
14%
vs 2018
About Greater Carmel
G
reater Carmel is considered neighborhoods of Carmel that fall outside of Carmel-by-the-Sea proper and Carmel Point. These neighborhoods experienced a slow start to the year. Poor weather and macroeconomic factors caused a major reduction in sales units and overall volume in the first several months of 2019. A strong second half made up significant ground in sales and volume. Final numbers show average sale price down 4%, unit sales down 14% and total volume off year over year by 18%. 2019 Sales by Segment
$113M Sales Volume
18% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs 2018
78 Days on Market
1% 4%
42%
14% 39%
<$1M | 32 1M-2M | 30 2M-3M | 11 3M-5M | 3 5M+ | 1
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$1.75M
$1.5M
Average vs Median Sales Price
$2M $1.25M
Greater Carmel
$1M
$1.5M
Q1
Q2 2018 2019
$1M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
30
$0.5M
20
2015
2016
2017
Average Sale Price
2018
2019
Median Sale Price 10
Days on Market 90 Q1
Q2
Q3
2018
Q4 2019
Closed Sales Volumeâ&#x20AC;¨ by Quarter
60
$50M
$38M
30
$25M
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
$13M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
7
2019 MARKET REPORT
Carmel Valley
$1,272,659 Average Selling Price
4%
vs 2018
200 Units Sold
7%
vs 2018
$254M
About Carmel Valley
C
armel Valley had a very strong Q4. There was almost four times the sales volume in Q4 compared to Q1 of this year. The sales volume was only down 3% compared to the Carmel area being down by 18%. The average sales price is also up quarter over quarter bringing it to just over $1.3M for the year. The major support comes from the sales growth of homes under $2M. 2019 Sales by Segment
1% 6% 7%
54%
Sales Volume
3% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs 2018
92 Days on Market
33%
<$1M | 108 1M-2M | 65 2M-3M | 13 3M-5M | 12 5M+ | 2
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$1.6M
$1.2M
Average vs Median Sales Price
$1.5M
Carmel Valley
$0.8M
$0.4M
$1.25M
Q1
Q2
2018 2019
$1M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
80
$0.75M
64
2015
2016
2017
Average Sale Price
2018
2019
48
Median Sale Price 32
16
Days on Market 100 Q1
Q2
Q3
2018
75
Q4 2019
Closed Sales Volume â&#x20AC;¨ by Quarter
$100M
50
$78M
$55M
831.624.2300 montereycoastrealty.com
25 $33M
Dolores and Seventh Carmel-by-the-Sea
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
9
2019 MARKET REPORT
Pebble Beach
$3,125,404 Average Selling Price
13%
vs 2018
131 Units Sold
4%
vs 2018
$409M Sales Volume
8% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs 2018
131 Days on Market
About Pebble Beach
A
fter a slow start in Q1, Pebble Beach had a strong year in 2019. The purchase of second homes in Pebble Beach is mostly discretionary. With government shutdown, trade and stock market issues in Q1 buyers waited for things to settle down. Volume picked up after Q1 and total sales dollars in Q4 almost tripled Q1. Results were impacted by a strength at the high price points with 3 transactions over $20M for the year. These sales also helped drive average sale price up by 13% year over year. 2019 Sales by Segment
6%
9% 49%
16% 20%
<$1M | 11 $1M-2M | 60 $2M-3M | 25 $3M-5M | 19 $5M+ | 7
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$4.25M
$3.25M
Average vs Median Sales Price
$3.2M $2.25M
Pebble Beach
$1.25M
$2.65M
Q1
Q2
2018 2019
$2.1M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
50
$1.55M
40
2015
2016
2017
Average Sale Price
2018
2019
30
Median Sale Price 20
10
Days on Market 120 Q1
Q2
Q3
2018
90
Q4 2019
Closed Sales Volume â&#x20AC;¨ by Quarter
$150M
60
$120M
$90M
831.624.2300 montereycoastrealty.com
30
Dolores and Seventh Carmel-by-the-Sea
$60M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
11
2019 MARKET REPORT
Carmel Highlands Big Sur & South Coast
$2,431,778 Average Selling Price
17%
vs 2018
18 Units Sold
50%
vs 2018
$21.8M Sales Volume
59% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
About Carmel Highlands
T
he Big Sur, South Coast, Carmel Highlands market typically does not have enough transaction volume for data to be predictive. This year there were 9 sales in this area compared to 18 in 2018. Inclement weather and heavy rains increasingly impact sales in this region. The second half of the year was much more active than the ďŹ rst half. With a number of strong oceanfront and ocean view listings, we expect 2020 to be healthy year. 2019 Sales by Segment
11%
67%
22% vs 2018
151 Days on Market
<$1M | 0 $1M-2M | 6 $2M-3M | 2 $3M-5M | 0 $5M+ | 1
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$7M
$5.25M
Average vs Median Sales Price
$3.5M $3.5M
Carmel Highlands Big Sur & South Coast
$1.75M
$2.75M
Q1
Q2
2018 2019
$2M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
8
$1.25M
6
2015
2016
2017
Average Sale Price
2018
2019
Median Sale Price
4
2
Days on Market 260 Q1
Q2
Q3
Q4
2018
195
2019
Closed Sales Volume â&#x20AC;¨ by Quarter
$30M
130
$23M
$15M
831.624.2300 montereycoastrealty.com
65
Dolores and Seventh Carmel-by-the-Sea
$8M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
13
2019 MARKET REPORT
Monterey
$920,030 Average Selling Price
2%
vs 2018
279 Units Sold
6%
vs 2018
About Monterey
M
onterey is a strong market having experienced 5 years of year over year appreciation in average sale price. The average sales price in 2019 was up 2% to $920,030. With over 77% of sales last year falling in the under $1M range local and second home buyers ďŹ nd this entry point more palatable. With demand remaining relatively high in this market, the increase in average sale price is a positive indicator given that both the number of units and total sales volume declined slightly. 2019 Sales by Segment
$256M Sales Volume
4% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
3% 4% 16%
77%
vs 2018
73 Days on Market
<$1M | 215 $1M-2M | 46 $2M-3M | 11 $3M-5M | 7 $5M+ | 0
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$1.25M
$1M
Average vs Median Sales Price
$1M $0.75M
$0.5M
Monterey $0.75M
Q1
Q2
2018 2019
$0.5M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
100
80
2015
2016
2017
Average Sale Price
2018
2019
Median Sale Price
60
40
Days on Market 75 Q1
Q2
Q3
2018
Q4 2019
Closed Sales Volume â&#x20AC;¨ by Quarter
50
$80M
$70M
25
$60M
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
$50M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
15
2019 MARKET REPORT
Pacific Grove
$1,124,259 Average Selling Price
7%
vs 2018
177 Units Sold
7%
vs 2018
$198M
About Pacific Grove
P
acific Grove continues to be a very strong market on the Peninsula. The natural setting and amenities make the market highly desirable, and the average sale price makes purchasing more affordable than other markets in the region. Sales volume was up 14% and average sales price was up 7% in 2019 in Pacific Grove. Each year since 2011, the average sales price has increased in this market and has almost doubled over that 9-year period. 2019 Sales by Segment
1% 5%
53%
Sales Volume
14% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs 2018
62 Days on Market
41%
<$1M | 93 1M-2M | 73 2M-3M | 9 3M-5M | 2 5M+ | 0
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$1.25M
Average vs Median Sales Price
$1M
$1.25M
$0.75M
Pacific Grove
$1M
Q1
Q2
2018 2019
$0.75M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
60
$0.5M
40
2015
2016
2017
Average Sale Price
2018
2019
Median Sale Price 20
Days on Market 75 Q1
Q2
Q3
2018
Q4 2019
Closed Sales Volume â&#x20AC;¨ by Quarter
50
$60M
$50M
25
$40M
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
$30M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
17
2019 MARKET REPORT
Seaside
$561,715 Average Selling Price
1%
vs 2018
185 Units Sold
1%
vs 2018
$103M Sales Volume
2% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
About Seaside
A
ctivity in Seaside, like most areas on the Peninsula, started out the year slow and built throughout the year. Seaside was balanced year over year with minor growth in average sales price, number of units sold and total sales volume. The market remains attractive to local, regional and out of town buyers because of more approachable price points. 64% of the units sold in Seaside in 2019 were in the $400-600k range while 16 sales exceeded $800K. 2019 Sales by Segment
1%
7% 8%
21%
64%
vs 2018
42 Days on Market
< $400k | 13 $400 - 600k | 118 $600 - 800k | 38 $800 - 1M | 15 $1M-2M | 1
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$0.6M
$0.5M
Average vs Median Sales Price
$0.75M
$0.4M
Seaside $0.5M Q1
Q2
2018 2019
$0.25M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
60
45
2015
2016
2017
Average Sale Price
2018
2019
Median Sale Price 30
Days on Market 42 Q1
Q2
Q3
2018
31.5
Q4 2019
Closed Sales Volume â&#x20AC;¨ by Quarter
$40M
$35M
21
$30M
831.624.2300 montereycoastrealty.com
$25M
10.5
Dolores and Seventh Carmel-by-the-Sea
$20M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
19
2019 MARKET REPORT
Marina
$652,259 Average Selling Price
8%
vs 2018
188 Units Sold
6%
vs 2018
$122M
About Marina
M
arina is very strong market on the Peninsula. The demand remains high across the entire market and is positively driven by growth and new amenities in the ďŹ&#x201A;ourishing communities, such as East Garrison, The Dunes, and Sea Heaven. This market, like Monterey, PG and Seaside, is a very attractive entry point for local and regional buyers. Last year average sale prices in Marina increased 8% over 2018. This was the 8th consecutive year over year increase in average sale price in this market. 2019 Sales by Segment
2%
5%
28%
12%
Sales Volume
1% 831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
vs 2018
44 Days on Market
54%
<$400 | 9 $400 - 600 | 53 $600 - 800 | 101 $800 - 1,000 | 22 $1M+ | 3
Average vs Median Sales Price by Quarter
2019 MARKET REPORT
$0.75M
Average vs Median Sales Price
$0.7M $0.5M
Marina $0.6M Q1
Q2
2018 2019
$0.5M
Q3
Q4
2018 Median 2019 Median
Closed Sales by Quarter
60
50
2015
2016
2017
Average Sale Price
2018
2019
40
Median Sale Price 30
20
Days on Market 60 Q1
Q2
Q3
2018
Q4 2019
Closed Sales Volume â&#x20AC;¨ by Quarter
40
$40M
$30M
20
$20M
831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea
$10M
2015
2016
2017
2018
2019
Q1
Q2 2018
Q3 2019
Q4
21
Alessia Ucelli Amy Scherer Ben Zoller Bob Profeta Brian Butler Brian Pybas Chris Babalis Devon Meeker Diane Kahle Ed Bass Erica Hutchinson Geoff Arnold George Fusco Greg Hamer Jennifer Veitengruber John Romley Lore Lingner LuAnn Meador Mike Proto-Robinson Noelle Hayes Patrick Norris Renee Catania Rita Lewis Rob Profeta Rose Clark Sharmaine Torrey Steve Wesenberg 831.624.2300 montereycoastrealty.com
The Dunes Team
Dolores and Seventh Carmel-by-the-Sea
The Finkle Team Th駻鑚érèse Kent Tom Glidden Wendy Loren