Carmel-by-the-Sea & Carmel Point • Greater Carmel • Carmel Valley • Pebble Beach • Carmel Highlands, Big Sur & South Coast • Monterey & Del Rey Oaks • Pacific Grove • Seaside • Marina & East Garrison
Luxury in Sea Haven
Desirable East Garrison Home
2977 Hayden Way • LP: $1,775,000 • Represented Seller
Lee Avenue • LP: $1,200,000 • Represented Seller
1212 Funston Avenue • LP: $1,100,000 • Represented Seller Charming & Quiet Home in Marina
Each year, it seems the real estate market—both nationally and here on the Peninsula—faces some form of external disruption. In our decades of experience, we have seen our share of shifts and surprises. However, since the onset of the COVID-19 pandemic in 2020, we have become particularly adept at staying nimble and adapting to a constantly evolving landscape.
Last year’s disruption came in the form of new operating guidelines stemming from the class action settlement involving certain buyer representatives and the National Association of Realtors. This year, we are helping clients navigate significant volatility in the public markets, largely driven by shifting trade and tariff policies. We expect these dynamics to continue into the summer.
That said, there are several offsetting factors at play in our local market. Market uncertainty and declining investment portfolios often cause buyers to be more cautious, especially when it comes to higher-priced, discretionary purchases. From a positive standpoint, real estate on the Monterey Peninsula has performed very well against the NYSE over the past 20 years. Many investors understand the long-term value of placing capital in a tangible asset that not only appreciates over time but can also be enjoyed along the way. This is why our market continues to demonstrate resilience, even in uncertain times. Moreover, if interest rates begin to decline, we anticipate renewed activity and strong demand, particularly in some of our emerging neighborhoods.
The Monterey Peninsula’s real estate market experienced a strong start to 2025. The overall market saw a 14.6% increase in home sales this quarter versus Q1 of last year. In addition, a small 4.9% increase in average sales price led to a 19.7% rise in total sales dollar volume when compared to last year. During Q1, Pebble Beach saw a surge in the entry market, experiencing 15 home sales under $3M. While Carmel-by-the-Sea was a bit slower than usual in Q1, the Carmel Highlands area saw four strong sales during the quarter and added eleven active listings. Though higher-priced homes across the market continued to sell slower than usual in Q1, during the first few days of April our company represented three sides on two amazing sales in Carmel. One sale just off Scenic Road sold for $13M and another on the beach in Carmel sold for $17.5M.
Each of these markets we serve goes through a constant balancing act between supply, demand and pricing. This makes it essential to have experienced, local, expert representation when buying or selling a home. Please reach out to one of our fulltime professional agents should you and any of your friends or family be considering a real estate transaction here on the Monterey Peninsula.
We hope you enjoy the following detailed analytic view of our market.
Carmel-by-the-Sea & Carmel Point
While Q4 2024 saw a lower-than-average number of sales paired with high prices, the opposite occurred during the first quarter of 2025 in Carmel-by-the-Sea. The area had a good quarter in terms of number of sales with 21, and a lower-than-normal average sales price of $3.17M. This was the lowest average sales price for a quarter in the area since Q3 2021, partly because of just one sale closing over $5M during this time period. While the average sales price was low, the median sales price was strong as 11 out of 21 sales during the quarter fell between $3M-$5M in price. There are 27 active listings on the market to end Q1, a substantial increase versus the 18 actives to end Q1 last year. Monterey Coast Realty and sister brokerage Carmel Realty combined to have an Agent represent a Buyer or Seller on 9 of the 21 transactions in Carmel-by-the-Sea during the quarter. Two of these transactions were double ended.
Q1 2025 Market Breakdown
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
Areas outside of Carmel-by-the-Sea & Carmel Point
The greater Carmel area saw just 10 sales in Q1, a slightly below average number for the area. The average sales price saw a record high during the quarter reaching $3.16M. This was in large part due to three homes selling over $5M during the quarter. Inventory is high in the area with 23 active listings to end the quarter, more than double that of the same time last year. With the average days on market being just 28 days, demand continues to be high in the greater Carmel area.
Q1 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
Bureau,
Carmel Valley
Including the Santa Lucia Preserve
Carmel Valley was slow in number of sales during Q1 for the third consecutive year, matching 2024’s total of 36 sales and falling short of 2023’s 39 sales. The last two years, we saw the Q2 sales number jump into the fifties in this area. The average sales price in Q1 2025 was strong, coming in at $1.95M for the quarter, down just 5% year over year. While the average sales price was slightly down, median sales price hit a record high of $1.68M. This shows continued appreciation in the area, specifically evident with more homes than average passing the $2M threshold. The average days on the market in Carmel Valley jumped to 84 days, the longest we’ve seen since 2019. One reason is increased inventory in the area. Heading into Q2 2025, 67 homes remain on the market, up 16 homes from last year.
Q1 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
Although Pebble Beach continued its slow period of highpriced sales, the lower end of the market returned in a big way. Of the 23 total sales during Q1, 15 came in under $3M. The 23 total sales during the quarter were more than three of the four quarters last year, trailing only Q4 2024’s 31 sales. This far surpassed the record-low nine sales we saw during Q1 2024. This abundance of lower-priced sales led to an average sales price of $2.84M for the quarter, below last year’s average price of $3.19M, but up 28.1% from Q1 2024. Total sales volume during Q1 2025 ($65.4M) was up 227% from last year’s low number of $19.9M. Seven properties are contingent or pending sale entering Q2, all of which are listed under $5M. Seven additional properties over $10M remain on the market moving into Q2. Only three $10M+ sales occurred during the entirety of 2024, one of which was off market.
Q1 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 had a nice Q1 with 5 sales during the quarter. Four sales took place in the Carmel Highlands ranging between $2.7M-$5.6M. The fifth sale took place further down the Big Sur coast. Carmel Realty and Monterey Coast Realty Agents represented sides on three of these five sales, including listing the highest priced sale! There is plenty of inventory moving into the second quarter of 2025 with 28 current active listings. The Carmel Highlands is currently a hot spot with 11 of these listings.
Q1 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
Pacific Grove had a very successful Q1, topping the previous three Q1 sales volume totals with $54.3M in sales. This volume came from 32 total sales during the quarter, ten more than Q1 2024. The average sales price was high, coming in just under $1.7M. This was a 4.7% increase from last quarter and 1.4% increase year over year. The 36 average days on the market were lower than each quarter last year. With prices remaining high, this shows significant demand. Pacific Grove is prepped for a strong year in 2025.
Six different Monterey Coast and Carmel Realty Agents represented Buyers and Sellers in Pacific Grove during Q1.
Q1 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
Similar to the past two years, Q1 was a slow quarter in Monterey. Just 45 sales occurred in the area during the quarter. The average sales price topped $1.2M for the quarter, which was a good number, up 17% from last quarter and down 13.5% from Q1 2024. The two highest priced sales that occurred during Q1 were both located in the Alta Mesa neighborhood. Monterey typically sees a nice uptick in sales into the high 60s or 70s during the second quarter. Thirteen homes are already in escrow and inventory is strong with 49 additional actives heading into Q2.
Q1 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
Seaside & Sand City
Like several other areas, Seaside experienced a slow start to 2025. The 29 units sold during the quarter were down from 40 sold last quarter and 33 in Q1 last year. The average sales price of $838k during the quarter was up 3.6% from Q1 2024, but down slightly from 2024’s full year average of $885k. Eight sales topped $1M in sales price during the quarter. Four of these sales took place in the Seaside Highlands. With 34 active listings, there is over double the inventory on the market compared to the same time last year.
Market Breakdown
Did You Know?
In 1910, as Monterey County Supervisor, Jon Roberts successfully lobbied President Theodore Roosevelt to locate the U.S. Army Base Fort Ord in Seaside. As many as 1.5 million American troops trained at Fort Ord between 1917-1994.
Marina & East Garrison
After an outstanding close to 2024, Marina had an average Q1 2025. The 33 sales during the quarter were a few more than the 30 during Q1 2024 and 29 sales in Q1 2023. The average sales price came down 6.3% year over year, in part due to several condo units selling in Q1 2025. Four sales under $600k during the quarter were more than all of 2024. There were also six sales of over $1.2M during Q1. Two of these sales involved Monterey Coast Realty Agents, including the highest priced on-market re-sale in Marina of $1.72M. Unlike most areas that have seen increased inventory, the Marina area currently sits at its lowest inventory level over the past three years, with just 20 active listings.
Q1 2025 Market Breakdown
Did You Know?
Monterey Bay Football Club was founded on February 1, 2021 and played its inaugural season in the USL Championship in 2022. The club plays at Cardinale Stadium, a 6,000-seat soccer-specific venue located on the campus of California State University, Monterey Bay.
