Monterey Peninsula Market Update Q2 2018

Q2 | 2018

Monterey Peninsula

Market Update

CARMEL VALLEY

sothebyshomes.com/0475287

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 Peninsula 04 06 08 10 12 14 16 18 20 22

Featured Properties Market Snapshot | All Areas

Big Sur Carmel

Carmel Valley 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

PEBBLE BEACH

Le Deuxieme Chalet des Canaries | Offered at $5,895,000

sothebyshomes.com/0475331

CARMEL

Offered at $2,599,000 sothebyshomes.com/0475353 PEBBLE BEACH

Offered at $2,495,000 sothebyshomes.com/0475252 MONTEREY

Offered at $988,000 sothebyshomes.com/0475344 CARMEL

Offered at $2,175,000 sothebyshomes.com/0475131 *in order from left to right, top to bottom

sothebyshomes.com/monterey

5

/ Featured Properties / Monterey Peninsula Q2 Market Update

g Sur Coast

Market Snapshot

Monterey Peninsula | Q2 2018

Big Sur Coast $1,350,000

Pebble Beach

Carmel

370 365

$1,300,000

360 $1,250,000

Pacific Grove

355 350

$1,200,000

345

Carmel Valley

Monterey/Salinas Hwy

$1,150,000

340 335

$1,100,000

330 $1,050,000

Monterey

Carmel

Carmel Val ley

Monterey

Monterey/Salinas Hwy

Total Units Sold 4 62 70 75 58 45 46

325 320

$1,000,000

2014 2015 2016 2017 2018

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

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

5 Year - ASP by Area

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$-

2014

Big Sur Coast Pacific Grove

Big Sur

2015

2016

2017

Carmel

Carmel Val ley

Pebble Beach

Monterey/Salinas Hwy

2018

Monterey

Average Selling Price Over Five Years by Area

Carmel

Monterey/Salinas Highway

Carmel Valley

Pacific Grove

7

Monterey

Pebble Beach

/ Q1 Highlights / Monterey Peninsula Q2 Market Update

at a glance {Q2 | 2018}

big sur

-30

%

Change in Average Selling Price {2018 v 2017}

100

%

Change in Units Sold {2018 v 2017}

4

Unit Sold

900k

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,600,000

4.5

$1,400,000

4 3.5

$1,200,000

3

$1,000,000

2.5

$800,000

2

$600,000

1.5

$400,000

1

$200,000

0.5

$-

0

2014

2015

2016

2017

Average Selling Price

2018 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 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}

Q2

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

{2018 v 2017}

Change

-60%

-30%

0%

-20%

100%

-32%

2018

$1,318,500

$924,750

-30%

$1,049,500

4

263

2017

$3,272,000

$1,317,500

-60%

$1,317,500

2

387

2016

$1,249,667

$1,201,667

-4%

$1,175,000

3

60

2015

$825,000

$625,000

-24%

$625,000

1

103

2014

$1,200,000

$1,200,000

0%

$1,200,000

1

27

9

/ Big Sur / Monterey Peninsula Q2 Market Update

|

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

76 74

$2,000,000

72 70

$1,500,000

68 66

$1,000,000

64 62

$500,000

60 58

$-

56

2014

2015

2016

2017

Average Selling Price

2018 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 first-rate dining, shopping and charming inns, Carmel is a haven for visitors and locals alike. sothebyshomes.com/monterey

{ALP vs ASP}

Q2

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

{2018 v 2017}

Change

2%

4%

-

21%

-11%

-30%

2018

$2,125,045

$1,945,531

-8%

$1,785,466

62

59

2017

$2,081,756

$1,861,785

-11%

$1,474,500

70

84

2016

$2,029,889

$1,829,975

-10%

$1,355,000

63

75

2015

$1,651,948

$1,514,479

-8%

$1,100,000

69

104

2014

$1,602,919

$1,495,218

-7%

$1,247,500

74

103

Monterey Peninsula Q2 Market Update / Carmel / 10

at a glance {Q2 | 2018}

carmel

4

%

Change in Average Selling Price {2018 v 2017}

-11

%

Change in Units Sold {2018 v 2017}

62 Units Sold

1.9m

$

Average Selling Price

at a glance {Q2 | 2018}

carmel valley

6

%

Change in Average Selling Price {2018 v 2017}

3

%

Change in Units Sold {2018 v 2017}

70 Units Sold

1.3m

$

Average Selling Price

|

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

80

$1,200,000

70 60

$1,000,000

50

$800,000

40 $600,000

30

$400,000

20

$200,000

10 0

$-

2014

2015

2016

2017

Average Selling Price

2018 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}

Q2

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

{2018 v 2017}

Change

0%

6%

-

7%

3%

-7%

2018

$1,361,911

$1,272,811

-7%

$1,072,500

70

77

2017

$1,368,397

$1,205,035

-12%

$1,000,000

68

83

2016

$1,478,228

$1,320,003

-11%

$1,037,500

74

83

2015

$1,150,860

$1,066,697

-7%

$875,000

57

105

2014

$1,058,441

$975,366

-8%

$770,000

63

84

13

/ Carmel Valley / Monterey Peninsula Q2 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

$-

2014

2015

2016

2017

Average Selling Price

2018 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}

Q2

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

{2018 v 2017}

Change

17%

20%

-

12%

-5%

7%

2018

$853,951

$831,700

-3%

$782,000

75

48

2017

$730,744

$693,354

-5%

$700,000

79

44

2016

$702,933

$681,043

-3%

$662,500

70

37

2015

$665,601

$645,777

-3%

$612,500

64

56

2014

$732,965

$694,196

-5%

$595,000

72

63

Monterey Peninsula Q2 Market Update / Monterey / 14

at a glance {Q2 | 2018}

monterey

20

%

Change in Average Selling Price {2018 v 2017}

-5

%

Change in Units Sold {2018 v 2017}

75 Units Sold

800k

$

Average Selling Price

at a glance {Q2 | 2018}

monterey | salinas highway

-9

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

58 Units Sold

900k

$

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

$-

2014

2015

2016

2017

Average Selling Price

2018 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}

Q2

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

{2018 v 2017}

Change

-11%

-9%

-

0%

0%

-10%

2018

$966,264

$925,577

-4%

$790,250

58

43

2017

$1,080,542

$1,020,986

-6%

$793,750

58

48

2016

$874,974

$843,002

-4%

$712,000

55

47

2015

$913,674

$867,504

-5%

$664,000

54

80

2014

$954,893

$888,402

-7%

$722,500

48

77

17

/ Monterey | Salinas Highway / Monterey Peninsula Q2 Market Update

|

Average Selling Price Total Units Sold $1,050,000

70

$1,000,000

60 50

$950,000

40 $900,000 30 $850,000

20

$800,000

10

$750,000

0

2014

2015

2016

2017

Average Selling Price

2018 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}

Q2

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

{2018 v 2017}

Change

-3%

-1%

-

-2%

-18%

13%

2018

$1,012,349

$981,725

-3%

$878,000

45

43

2017

$1,047,212

$994,992

-5%

$899,000

55

38

2016

$977,985

$932,016

-5%

$844,500

60

47

2015

$868,875

$845,375

-3%

$762,500

56

45

2014

$1,002,896

$916,712

-9%

$699,000

53

70

Monterey Peninsula Q2 Market Update / Pacific Grove / 18

at a glance {Q2 | 2018}

pacific grove

-1

%

Change in Average Selling Price {2018 v 2017}

-18

%

Change in Units Sold {2018 v 2017}

45 Units Sold

1

$ m Average Selling Price

at a glance {Q2 | 2018}

pebble beach

15

%

Change in Average Selling Price {2018 v 2017}

35

%

Change in Units Sold {2018 v 2017}

46 Units Sold

2.2m

$

Average Selling Price

|

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

50 45

$2,000,000

40 35

$1,500,000

30 25

$1,000,000

20 15

$500,000

10 5

$-

0

2014

2015

2016

2017

Average Selling Price

2018 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.

{ALP vs ASP}

Q2

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

{2018 v 2017}

Change

17%

15%

-

-14%

35%

21%

2018

$2,434,672

$2,200,515

-10%

$1,437,000

46

97

2017

$2,078,785

$1,921,148

-8%

$1,670,000

34

80

2016

$1,790,809

$1,602,450

-11%

$1,319,594

32

96

2015

$2,503,279

$2,226,872

-11%

$1,348,750

34

98

2014

$2,583,073

$2,128,058

-18%

$1,425,000

33

134

21

/ Pebble Beach / Monterey Peninsula Q2 Market Update

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

CARMEL

Quail Meadows Contemporary Last asking $5,850,000

CARMEL VALLEY

Oaks & Vistas In Carmel Valley Village Last asking $2,395,000 MONTEREY

Stunning Views of Monterey Bay Last asking $5,950,000 PEBBLE BEACH

Architectural Masterpiece Last asking $6,200,000 MONTEREY

Greene Mansion Last asking $999,000 *in order from left to right, top to bottom

sothebyshomes.com/monterey 23

/ Significant Sales / Monterey Peninsula Q2 Market Update

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