Monterey & Del Rey Oaks

831.624.2300 montereycoastrealty.com

Dolores and Seventh Carmel-by-the-Sea

Pacific Grove Market Update

Pacific Grove had its highest average sales price on record in Q1 2023 at $1.7M, slightly topping Q1 of last year. While we saw homes selling quickly in this area over the last few years, average days on market jumped up to 54 days for the quarter, the highest since 2019. Inventory is still low, but slowly increasing, now up to 15 at quarter end. After seeing 30 sales in the quarter once again, we expect to see this number climb closer to the typical average in the low 40s.

$1,708,723

20% vs Q4 2022

0.3% vs Q1 2022

$51.3M

SALES VOLUME

Sales By Segment

<$800K - 0 $800K-$1.2M - 9 $1.2M-$2M - 15 $2M-$3M - 4 $3M+ - 2

AVERAGE SELLING PRICE UNITS SOLD DAYS ON MARKET

20% vs Q4 2022

0.3% vs Q1 2022

30 no change vs Q4 2022 no change vs Q1 2022

54 45.9% vs Q4 2022

68.8% vs Q1 2022