Following two years of extraordinary growth, the real estate market on the Monterey Peninsula has normalized. The number of transactions, total dollar volume and average sale prices all hit record highs beginning in the second half of 2020 and continuing into the first half of 2022. However, beginning in the summer of 2022, the number of transactions and total sales dollar volume has returned for the most part to pre-COVID levels. The positive news is that while transaction volume is down significantly from the previous two-year peak, home values on the Peninsula are holding up nicely. In this regard, once again, our market is greatly outperforming most markets across the country. Please read on to learn more about your area!