Monterey Peninsula Market Update Q1 2018

Q1 | 2018

Monterey Peninsula

Market Update

CARMEL

sothebyshomes.com/0475085

Monterey Peninsula 04

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Featured Properties Market Shapshot | All Areas

Big Sur Carmel

Carmel Valley

global reach

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brand heritage extraordinary marketing

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pr powerhouse proven results

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Monterey Peninsula Brokerages carmel ocean avenue

831.624.9700

carmel rancho brokerage

831.624.1566

Janet Reilly / Senior 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 CalBRE#: 899496.

Monterey Monterey | Salinas Highway Pacific 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

Offered at $3,949,000 sothebyshomes.com/0474882 CARMEL VALLEY

Offered at $1,875,000 sothebyshomes.com/ 0501594 PACIFIC GROVE

Offered at $1,495,000 sothebyshomes.com/1210618 MONTEREY

Offered at $1,250,000 sothebyshomes.com/0475142 MONTERRA

Sublime Contemporary Estate Offered at $5,300,000 sothebyshomes.com/0475119

*in order from left to right, top to bottom

sothebyshomes.com/monterey

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/ Featured Properties / Monterey Peninsula Q1 Market Update

Market Snapshot

Five Year Comparison

Monterey Peninsula | Q1 2018

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

5 Year - ASP by Area Big Sur Coast

Pebble Beach Carmel

$1,600,000

350

$1,400,000

300

$1,200,000

250

$1,000,000 200

Pacific Grove $800,000

Carmel Valley

Monterey/Salinas Hwy

150 $600,000 100

$400,000

50

$200,000

Monterey

$-

0

2014 2015 2016 2017 2018

Coast

Carmel

Carmel Val ley

Monterey

Total Units Sold 2 58 35 67 33 39 34

Monterey/Salinas Hwy

Pacific Grove

Pebble Beach

Average Selling Price vs. Total Units Sold

Big Sur

Average Selling Price

Carmel

Total Units Sold

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

2014

Big Sur Coast Pacific Grove

Big Sur

2015

2016

Carmel

2017

Carmel Val ley

Monterey

Pebble BeachSelling Monterey/Salinas Average Price Hwy Over Five Years by Area

Carmel

Carmel Valley

2018

Monterey

Carmel Valley Monterey Monterey/Salinas Highway

Monterey/Salinas Highway

Pacific Grove

Pebble Beach

Pacific Grove Pebble Beach

7

/ Q1 Highlights / Monterey Peninsula Q1 Market Update

|

Average Selling Price Total Units Sold

at a glance {Q1 | 2018}

big sur

$3,500,000

3.5

$3,000,000

3

$2,500,000

2.5

$2,000,000

2

$1,500,000

1.5

$1,000,000

1

$500,000

0.5

$-

-55

0

2014

%

2015

2016

2017

Average Selling Price

2018 Total Units Sold

Change in Average Selling Price {2018 v 2017}

-33

%

Change in Units Sold {2018 v 2017}

2

Unit Sold

1.3m

$

Average Selling Price

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 Pacific 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}

Q1

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

{2018 v 2017}

Change

-41%

-55%

-

-46%

-33%

135%

2018

-36%

$1,287,500

2

554

2

245

2017

-17%

$2,400,000

3

236

5

286

2016

-24%

$1,805,000

2

242

2

40

2015

$-

$-

0%

$-

0

0

2014

-17%

$1,650,000

1

373

2

57

9

/ Big Sur / Monterey Peninsula Q1 Market Update

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Average Selling Price Total Units Sold $2,500,000

70 60

$2,000,000

50 $1,500,000

40 30

$1,000,000

20 $500,000

10

$-

0

2014

2015

2016

2017

Average Selling Price

2018 Total Units Sold

at a glance {Q1 | 2018}

carmel

3

%

Change in Average Selling Price {2018 v 2017}

-3

%

About

Carmel

Change in Units Sold

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 first-rate dining, shopping and charming inns, Carmel is a haven for visitors and locals alike. sothebyshomes.com/monterey

{2018 v 2017}

58 Units Sold

{ALP vs ASP}

Q1

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

{2018 v 2017}

Change

-1%

3%

-

11%

-3%

-15%

2018

$2,142,472

$1,996,559

-7%

$1,655,000

58

90

2017

$2,168,842

$1,938,275

-11%

$1,492,500

60

105

2016

$2,261,140

$2,004,390

-11%

$1,314,000

62

83

2015

$1,827,779

$1,659,558

-9%

$1,237,500

52

109

2014

$1,880,821

$1,648,978

-12%

$1,276,700

63

133

Monterey Peninsula Q1 Market Update / Carmel / 10

2.0m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,400,000

60

$1,200,000

50

$1,000,000 $800,000

at a glance {Q1 | 2018}

carmel valley

40 30

$600,000 20

$400,000

10

$200,000 $-

19

0

2014

%

2015

2016

2017

Average Selling Price

2018 Total Units Sold

Change in Average Selling Price {2018 v 2017}

-10

%

Change in Units Sold {2018 v 2017}

35 Units Sold

1.3m

$

Average Selling Price

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}

Q1

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

{2018 v 2017}

Change

24%

19%

-

14%

-10%

21%

2018

$1,469,883

$1,271,750

-13%

$910,000

35

92

2017

$1,181,767

$1,067,362

-10%

$800,000

39

76

2016

$838,815

$823,307

-2%

$819,000

27

56

2015

$939,121

$868,192

-8%

$775,000

53

102

2014

$1,043,348

$870,063

-17%

$704,500

40

101

13

/ Carmel Valley / Monterey Peninsula Q1 Market Update

|

Average Selling Price Total Units Sold $900,000

80

$800,000

70

$700,000

60

$600,000

50

$500,000

40

$400,000

30

$300,000

20

$200,000

10

$100,000 $-

0

2014

2015

2016

2017

Average Selling Price

2018 Total Units Sold

at a glance {Q1 | 2018}

monterey

20

%

Change in Average Selling Price {2018 v 2017}

31

%

About

Monterey

Change in Units Sold

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

{2018 v 2017}

67 Units Sold

{ALP vs ASP}

Q1

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

{2018 v 2017}

Change

19%

20%

-

18%

31%

-27%

2018

$830,307

$797,647

-4%

$765,000

67

41

2017

$696,163

$663,086

-5%

$650,000

51

56

2016

$667,143

$642,593

-4%

$630,000

49

48

2015

$639,335

$604,156

-6%

$584,950

64

84

2014

$630,818

$595,976

-6%

$565,000

46

76

Monterey Peninsula Q1 Market Update / Monterey / 14

0.8m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,400,000

60

$1,200,000

50

$1,000,000 $800,000

at a glance {Q1 | 2018}

monterey | salinas highway

40 30

$600,000 20

$400,000

10

$200,000 $-

31

0

2014

%

2015

2016

2017

Average Selling Price

2018 Total Units Sold

Change in Average Selling Price {2018 v 2017}

-28

%

Change in Units Sold {2018 v 2017}

33 Units Sold

1.3m

$

Average Selling Price

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}

Q1

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

{2018 v 2017}

Change

30%

31%

-

26%

-28%

22%

2018

$1,463,455

$1,312,447

-10%

$950,000

33

84

2017

$1,121,913

$1,003,985

-11%

$752,500

46

69

2016

$897,214

$826,285

-8%

$653,750

36

65

2015

$809,615

$744,196

-8%

$637,500

52

104

2014

$725,803

$691,513

-5%

$627,500

32

75

17

/ Monterey | Salinas Highway / Monterey Peninsula Q1 Market Update

|

Average Selling Price Total Units Sold 50

$1,200,000

45 $1,000,000

40 35

$800,000

30 25

$600,000

20

$400,000

15 10

$200,000

5

$-

0

2014

2015

2016

2017

Average Selling Price

2018 Total Units Sold

at a glance {Q1 | 2018}

pacific grove

-5

%

Change in Average Selling Price {2018 v 2017}

-9

%

About

Pacific Grove

Change in Units Sold

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

{2018 v 2017}

39 Units Sold

{ALP vs ASP}

Q1

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

{2018 v 2017}

Change

-9%

-5%

-

-2%

-9%

-44%

2018

$988,327

$963,526

-3%

$900,000

39

45

2017

$1,090,128

$1,015,558

-7%

$915,000

43

80

2016

$905,750

$839,685

-7%

$790,550

33

56

2015

$959,764

$908,081

-5%

$815,000

35

62

2014

$779,372

$729,900

-6%

$695,000

37

75

Monterey Peninsula Q1 Market Update / Pacific Grove / 18

1.0m

$

Average Selling Price

|

Average Selling Price Total Units Sold 40

$3,000,000

35

$2,500,000

30 $2,000,000

at a glance {Q1 | 2018}

pebble beach

25 20

$1,500,000

15

$1,000,000

10 $500,000

5

$-

41

0

2014

%

2015

2016

2017

Average Selling Price

2018 Total Units Sold

Change in Average Selling Price {2018 v 2017}

55

%

Change in Units Sold {2018 v 2017}

34 Units Sold

2.8m

$

Average Selling Price

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.

{ALP vs ASP}

Q1

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

{2018 v 2017}

Change

46%

41%

-

18%

55%

36%

2018

$3,269,412

$2,752,529

-16%

$1,560,000

34

154

2017

$2,246,855

$1,950,400

-13%

$1,317,500

22

113

2016

$2,476,103

$2,298,731

-7%

$1,700,000

29

99

2015

$2,243,712

$1,875,571

-16%

$1,500,000

25

143

2014

$2,673,287

$2,296,399

-14%

$1,523,000

31

140

21

/ Pebble Beach / Monterey Peninsula Q1 Market Update

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

PEBBLE BEACH

Elegant Ocean View Townhome Last asking $3,995,000 MONTEREY/SALINAS HIGHWAY

Country & Equestrian Estate Last asking $2,395,000 BIG SUR COAST

Santa Lucia Ranch Last asking $2,000,000 CARMEL

Old World Charm Last asking $1,595,000 PEBBLE BEACH

This View Never Gets Old Last asking $10,000,000

*in order from left to right, top to bottom

sothebyshomes.com/monterey 23

/ Significant Sales / Monterey Peninsula Q1 Market Update

April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.

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