Monterey Peninsula Market Update Q4 2019

Q4 | 2019

Monterey Peninsula

Market Update

CARMEL

Quiet Cove on Carmel Beach

QuietCoveCarmel.com

Monterey Peninsula Brokerages CARMEL OCEAN AVENUE

831.624.9700

CARMEL RANCHO BROKERAGE

831.624.1566

Becky Jones / Vice President / Brokerage Manager CARMEL VALLEY BROKERAGE

831.659.2267

PACIFIC GROVE BROKERAGE

831.372.7700

All data within this document is pulled from the Monterey Peninsula MLS. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity. SIR DRE: 899496.

Monterey Peninsula 04

Featured Properties

06 08 10 12 14 16 18 20 22

Market Snapshot | All Areas Big Sur Carmel

Carmel Valley Monterey Monterey | Salinas Highway

PaciďŹ c Grove Pebble Beach Extraordinary Results

Featured Properties We invite you to explore our exclusive offerings at S OT HEBYSHO M ES.C O M / M O NTER EY

CARMEL

Sky, Land, Sea & Architecture | Offered at $$3,600,000 24755Outlook.com

CARMEL

Offered at $4,095,000 32Portrero.com MONTEREY

Offered at $3,595,000 7625MillsRoad.com PEBBLE BEACH

Offered at $1,699,998 sothebyshomes.com/0476087 PACIFIC GROVE

Offered at $1,150,000 855BayviewAve.com *in order from left to right, top to bottom

sothebyshomes.com/monterey

5

/ Featured Properties / Monterey Peninsula Q4 Market Update

Market Snapshot

Monterey Peninsula | Q4 2019

Big Sur Coast

Pebble Beach

Carmel

Pacific Grove

Carmel Valley

Monterey/Salinas Hwy

$1,600,000

340

$1,550,000

330

$1,500,000

320

$1,450,000

310

$1,400,000

300

$1,350,000

290

$1,300,000

280

$1,250,000

270

$1,200,000

260

$1,150,000

250

2015 2016 2017 2018 2019

Monterey

Carmel

Carmel Val ley

Monterey

Total Units Sold 1 63 57 65 42 48 36

Monterey/Salinas Hwy

Pacific Grove

Pebble Beach

Average Selling Price vs. Total Units Sold

Big Sur

Average Selling Price

Carmel

Total Units Sold

Carmel Valley Monterey Monterey/Salinas Highway Pacific Grove Pebble Beach

Five Year Comparison

5 Year - ASP by Area

Big Sur, Carmel, Carmel Valley, Monterey, Monterey/Salinas Highway, Pacific Grove, and Pebble Beach

$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-

2015

Big Sur Coast Pacific Grove

Big Sur

2016

2017

2018

Carmel

Carmel Val ley

Pebble Beach

Monterey/Salinas Hwy

2019

Monterey

Average Selling Price Over Five Years by Area

Carmel

Monterey/Salinas Highway

Carmel Valley

Pacific Grove

7

Monterey

Pebble Beach

/ Q4 Highlights / Monterey Peninsula Q4 Market Update

at a glance {Q4 | 2019}

BIG SUR

-60

%

Change in Average Selling Price {2019 v 2018}

-50

%

Change in Units Sold {2019 v 2018}

1

Units Sold

650k

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,800,000

6

$1,600,000

5

$1,400,000 $1,200,000

4

$1,000,000

3

$800,000 $600,000

2

$400,000

1

$200,000 $-

0

2015

2016

2017

2018

Average Selling Price

2019

Total Units Sold

About

Big Sur South of Carmel lies Big Sur, nearly 100 miles of pristine, rugged coastline, where the Santa Lucia Mountains rise precipitously from the PaciďŹ c Ocean, creating some of the most spectacular views and iconic imagery in America. Big Sur is best known for its natural untouched beauty.

SOTHEBYSHOMES.COM/MONTEREY

{ALP vs ASP}

Q4

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market

{2019 v 2018}

Change

-53%

-60%

109%

-60%

-50%

42%

2019

$875,000

$650,000

-26%

$649,000

1

277

2018

$1,847,500

$1,618,750

-12%

$1,618,750

2

195

2017

$1,024,000

$820,000

-20%

$820,000

2

245

2016

$1,496,980

$1,093,660

-27%

$1,200,000

5

286

2015

$975,000

$950,000

-3%

$950,000

2

40

9

/ Big Sur / Monterey Peninsula Q4 Market Update

|

Average Selling Price Total Units Sold 90

$2,500,000

80 $2,000,000

70 60

$1,500,000

50 40

$1,000,000

30 20

$500,000

10 $-

0

2015

2016

2017

2018

Average Selling Price

2019

Total Units Sold

About

Carmel Carmel was founded as an enclave for artists around the turn of the century and remains true to its bohemian roots today. With its idyllic location, its pristine beaches and a village with ďŹ rst-rate dining, shopping and charming inns, Carmel is a haven for visitors and locals alike.

SOTHEBYSHOMES.COM/MONTEREY

{ALP vs ASP}

Q4

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market

{2019 v 2018}

Change

-7%

-10%

34%

-6%

5%

10%

2019

$2,207,791

$1,962,501

-11%

$1,500,000

63

83

2018

$2,373,214

$2,177,030

-8%

$1,596,500

60

76

2017

$2,147,877

$1,912,264

-11%

$1,560,000

77

92

2016

$1,916,551

$1,754,687

-8%

$1,320,000

59

84

2015

$2,307,456

$2,123,943

-8%

$1,442,500

68

96

Monterey Peninsula Q4 Market Update / Carmel / 10

at a glance {Q4 | 2019}

CARMEL

-10

%

Change in Average Selling Price {2019 v 2018}

5

%

Change in Units Sold {2019 v 2018}

63 Units Sold

2.0m

$

Average Selling Price

at a glance {Q4 | 2019}

CARMEL VALLEY

33

%

Change in Average Selling Price {2019 v 2018}

10

%

Change in Units Sold {2019 v 2018}

57 Units Sold

1.5m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,800,000

60

$1,600,000

50

$1,400,000 $1,200,000

40

$1,000,000

30

$800,000 $600,000

20

$400,000

10

$200,000 $-

0

2015

2016

2017

2018

Average Selling Price

2019

Total Units Sold

About

Carmel Valley Just east of Carmel and beyond the “fog line� is Carmel Valley, a sun-soaked region nestled between lush green mountains. Ranch-style homes, vineyards, ranches, horse properties and country club real estate are enhanced by the numerous golf courses and wineries.

SOTHEBYSHOMES.COM/MONTEREY

{ALP vs ASP}

Q4

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market

{2019 v 2018}

Change

39%

33%

46%

3%

10%

38%

2019

$1,714,965

$1,524,593

-11%

$955,000

57

97

2018

$1,237,913

$1,143,550

-8%

$926,250

52

70

2017

$1,179,358

$1,039,469

-12%

$854,500

50

95

2016

$1,287,940

$1,162,330

-10%

$1,120,000

43

59

2015

$1,049,616

$959,561

-9%

$762,500

38

99

13

/ Carmel Valley / Monterey Peninsula Q4 Market Update

|

Average Selling Price Total Units Sold $900,000

90

$800,000

80

$700,000

70

$600,000

60

$500,000

50

$400,000

40

$300,000

30

$200,000

20

$100,000

10

$-

0

2015

2016

2017

2018

Average Selling Price

2019

Total Units Sold

About

Monterey Monterey is the geographical and social center of the Peninsula. Its remarkable waterfront lies along Monterey Bay National Marine Sanctuary. Fisherman’s Wharf, Cannery Row and the famous Monterey Bay Aquarium stretch along the vibrant waterfront.

SOTHEBYSHOMES.COM/MONTEREY

{ALP vs ASP}

Q4

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market

{2019 v 2018}

Change

4%

4%

8%

-5%

7%

61%

2019

$798,112

$749,234

-6%

$685,000

65

77

2018

$767,138

$723,789

-6%

$719,000

61

48

2017

$855,211

$816,121

-5%

$749,750

66

56

2016

$714,027

$670,804

-6%

$647,500

56

44

2015

$665,366

$638,303

-4%

$585,000

78

70

Monterey Peninsula Q4 Market Update / Monterey / 14

at a glance {Q4 | 2019}

MONTEREY

4

%

Change in Average Selling Price {2019 v 2018}

7

%

Change in Units Sold {2019 v 2018}

65 Units Sold

750k

$

Average Selling Price

at a glance {Q4 | 2019}

MONTEREY | SALINAS HIGHWAY

-13

%

Change in Average Selling Price {2019 v 2018}

11

%

Change in Units Sold {2019 v 2018}

42 Units Sold

870k

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,200,000

70

$1,000,000

60 50

$800,000

40 $600,000 30 $400,000

20

$200,000

10 0

$-

2015

2016

2017

2018

Average Selling Price

2019

Total Units Sold

About

Monterey | Salinas Highway Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city in Monterey County. Situated in the lush and fertile Salinas Valley, known as the Salad Bowl of America,Salinas has a thriving agricultural economy.

SOTHEBYSHOMES.COM/MONTEREY

{ALP vs ASP}

Q4

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market

{2019 v 2018}

Change

-12%

-13%

31%

0%

11%

18%

2019

$932,402

$869,845

-7%

$831,000

42

66

2018

$1,058,268

$1,004,105

-5%

$832,000

38

56

2017

$1,137,048

$1,062,440

-7%

$781,725

58

59

2016

$889,423

$831,832

-6%

$734,000

51

77

2015

$915,456

$866,813

-5%

$665,000

39

63

17

/ Monterey | Salinas Highway / Monterey Peninsula Q4 Market Update

|

Average Selling Price Total Units Sold $1,200,000

54

$1,000,000

52 50

$800,000

48 $600,000 46 $400,000

44

$200,000

42 40

$-

2015

2016

2017

2018

Average Selling Price

2019

Total Units Sold

About

Pacific Grove Popularly known as America’s Last Home Town, Pacific Grove possesses a quaint and quiet charm all its own. Famous for its numerous Victorian-style homes, Pacific Grove has a rich architectural history, apparent in its old-style downtown.

SOTHEBYSHOMES.COM/MONTEREY

{ALP vs ASP}

Q4

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market

{2019 v 2018}

Change

-1%

0%

-18%

14%

20%

11%

2019

$1,268,004

$1,202,497

-5%

$1,087,250

48

62

2018

$1,284,311

$1,203,034

-6%

$950,000

40

56

2017

$1,035,931

$974,058

-6%

$899,000

36

54

2016

$959,153

$901,446

-6%

$800,000

37

57

2015

$1,011,224

$913,313

-10%

$845,000

38

87

Monterey Peninsula Q4 Market Update / Pacific Grove / 18

at a glance {Q4 | 2019}

PACIFIC GROVE

0

%

Change in Average Selling Price {2019 v 2018}

20

%

Change in Units Sold {2019 v 2018}

48 Units Sold

1.2m

$

Average Selling Price

at a glance {Q4 | 2019}

PEBBLE BEACH

97

%

Change in Average Selling Price {2019 v 2018}

38

%

Change in Units Sold {2019 v 2018}

36 Units Sold

3.6m

$

Average Selling Price

|

Average Selling Price Total Units Sold $4,500,000

38

$4,000,000

37

$3,500,000

36 35

$3,000,000

34

$2,500,000

33

$2,000,000

32

$1,500,000

31

$1,000,000

30

$500,000

29

$-

28

2015

2016

2017

2018

Average Selling Price

2019

Total Units Sold

About

Pebble Beach Pebble Beach is a prestigious community world renowned for its unparalleled golf. Boasting seven courses within its gates, it is most notable for the Pebble Beach Golf Links, which is considered by many to be the best public course in the world.

SOTHEBYSHOMES.COM/MONTEREY

{ALP vs ASP}

Q4

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market

{2019 v 2018}

Change

122%

97%

83%

38%

38%

-8%

2019

$4,650,414

$3,638,903

-22%

$2,062,500

36

128

2018

$2,093,442

$1,843,958

-12%

$1,496,950

26

139

2017

$2,747,566

$2,439,028

-11%

$1,625,000

38

82

2016

$4,143,750

$3,561,601

-14%

$1,739,500

28

128

2015

$2,651,960

$2,242,969

-15%

$1,435,000

39

130

21

/ Pebble Beach / Monterey Peninsula Q4 Market Update

Extraordinary Results We celebrate the notable success of our associates and clients

PEBBLE BEACH

Historic Colonial Revival Last asking $21,000,000

PEBBLE BEACH

Historic Colonial Revival Last asking $8,150,000 CARMEL

Life is a Beach at “High Tide” Last asking $4,875,000 PACIFIC GROVE

Craftsman Beach Escape Last asking $2,525,000 MONTEREY

Spectacular French Revival Estate Last asking $2,295,000 *in order from left to right, top to bottom

SOTHEBYSHOMES.COM/MONTEREY 23

/ Significant Sales / Monterey Peninsula Q4 Market Update

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