Monterey Peninsula Market Update Q3

Q3 | 2017

Monterey Peninsula

Market Update

CARMEL

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Monterey Peninsula Brokerages carmel ocean avenue

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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 Shapshot | 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 OTHEBYS H O ME S.C O M/MO NTE R E Y

CARMEL HIGHLANDS

Oceanfront Contemporary | Offered at $8,295,000 sothebyshomes.com/0474839

PEBBLE BEACH

Offered at $2,398,857 sothebyshomes.com/0474852 CARMEL VALLEY

Offered at $1,449,000 sothebyshomes.com/0474788 CARMEL

Offered at $875,000 sothebyshomes.com/0474918 PACIFIC GROVE

Offered at $929,000 sothebyshomes.com/1210547 *in order from left to right, top to bottom

sothebyshomes.com/monterey

5

/ Featured Properties / Monterey Peninsula Q3 Market Update

r Coast

Market Snapshot

Monterey Peninsula | Q3 2017

Big Sur Coast

$1,400,000

350 345

$1,200,000

Pebble Beach

340

Carmel $1,000,000

335 330

$800,000

Pacific Grove

325 $600,000

Carmel Valley

Monterey/Salinas Hwy

320 315

$400,000

310 $200,000 Monterey

305

$-

300

2013 2014 2015 2016 2017

Carmel

Carmel Valley

Monterey

Monterey/Salinas Hwy

Total Units Sold 1 69 51 74 53 49 37

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

$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$-

2013

2014

2015

2016

Big Sur Coast

Carmel

Carmel Valley

Pacific Grove

Pebble Beach

Monterey/Salinas Hwy

2017

Monterey

Average Selling Price Over Five Years by Area

Big Sur

Carmel

Monterey/Salinas Highway

Carmel Valley

Pacific Grove

7

Monterey

Pebble Beach

/ Q3 Highlights / Monterey Peninsula Q3 Market Update

at a glance {Q3 | 2017}

big sur

0

%

Change in Average Selling Price {2017 v 2016}

0

%

Change in Units Sold {2017 v 2016}

1

Unit Sold

2.5m

$

Average Selling Price

|

Average Selling Price Total Units Sold $6,000,000

3.5

$5,000,000

3 2.5

$4,000,000

2 $3,000,000 1.5 $2,000,000

1

$1,000,000

0.5 0

$-

2013

2014

2015

2016

Average Selling Price

2017

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}

Q3

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

{2017 v 2016}

Change

n/a

n/a

-

n/a

n/a

n/a

2017

$2,500,000

$1,625,000

-35%

$1,625,000

1

100

2016

n/a

n/a

n/a

n/a

0

n/a

2015

$4,183,333

$3,179,167

-24%

$3,137,500

3

449

2014

$5,800,000

$5,250,000

-9%

$5,250,000

1

630

2013

$3,472,500

$3,125,000

-10%

$3,125,000

2

171

9

/ Big Sur / Monterey Peninsula Q3 Market Update

|

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

76

$1,800,000

74

$1,600,000

72

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

70

$1,000,000

68

$800,000

66

$600,000

64

$400,000

62

$200,000

60

$-

2013

2014

2015

2016

Average Selling Price

2017 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}

Q3

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

{2017 v 2016}

Change

19%

16%

-

7%

0%

13%

2017

$1,885,657

$1,722,683

-9%

$1,390,000

69

72

2016

$1,579,222

$1,485,672

-6%

$1,300,000

69

63

2015

$1,682,154

$1,524,308

-9%

$1,200,000

67

94

2014

$1,688,269

$1,545,337

-8%

$1,250,000

75

85

2013

$1,492,244

$1,362,188

-9%

$1,100,000

65

129

Monterey Peninsula Q3 Market Update / Carmel / 10

at a glance {Q3 | 2017}

carmel

16

%

Change in Average Selling Price {2017 v 2016}

0

%

Change in Units Sold {2017 v 2016}

69 Units Sold

1.7m

$

Average Selling Price

at a glance {Q3 | 2017}

carmel valley

-17

%

Change in Average Selling Price {2017 v 2016}

-16

%

Change in Units Sold {2017 v 2016}

51 Units Sold

1.0m

$

Average Selling Price

|

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

62

$1,200,000

60 58

$1,000,000

56

$800,000

54 $600,000

52

$400,000

50

$200,000

48 46

$-

2013

2014

2015

2016

Average Selling Price

2017 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}

Q3

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

{2017 v 2016}

Change

-15%

-17%

-

-4%

-16%

10%

2017

$1,067,348

$983,958

-8%

$915,000

51

95

2016

$1,260,248

$1,191,901

-5%

$950,000

61

86

2015

$1,104,564

$1,041,450

-6%

$777,000

55

46

2014

$820,487

$750,129

-9%

$732,000

52

88

2013

$988,506

$922,343

-7%

$715,000

51

73

13

/ Carmel Valley / Monterey Peninsula Q3 Market Update

|

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

90

$900,000

80

$800,000

70

$700,000

60

$600,000

50

$500,000

40

$400,000

30

$300,000 $200,000

20

$100,000

10

$-

0

2013

2014

2015

2016

Average Selling Price

2017 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}

Q3

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

{2017 v 2016}

Change

9%

9%

-

3%

-3%

-7%

2017

$768,167

$740,994

-4%

$680,000

74

34

2016

$706,536

$678,299

-4%

$658,250

76

37

2015

$670,076

$638,306

-5%

$625,000

83

46

2014

$901,636

$862,797

-4%

$635,000

63

69

2013

$705,696

$667,993

-5%

$602,500

84

74

Monterey Peninsula Q3 Market Update / Monterey / 14

at a glance {Q3 | 2017}

monterey

9

%

Change in Average Selling Price {2017 v 2016}

-3

%

Change in Units Sold {2017 v 2016}

74 Units Sold

0.7m

$

Average Selling Price

at a glance {Q3 | 2017}

monterey | salinas highway

-6

%

Change in Average Selling Price {2017 v 2016}

-9

%

Change in Units Sold {2017 v 2016}

53 Units Sold

0.9m

$

Average Selling Price

|

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

60

$1,000,000

58 56

$800,000

54 $600,000 52 $400,000

50

$200,000

48 46

$-

2013

2014

2015

2016

Average Selling Price

2017 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}

Q3

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

{2017 v 2016}

Change

-10%

-6%

-

-5%

-9%

-37%

2017

$923,838

$881,228

-5%

$725,000

53

57

2016

$1,029,095

$941,926

-8%

$761,000

58

90

2015

$1,073,837

$1,008,050

-6%

$799,000

57

77

2014

$1,043,516

$1,000,628

-4%

$739,450

54

64

2013

$763,127

$715,099

-6%

$535,000

51

94

17

/ Monterey | Salinas Highway / Monterey Peninsula Q3 Market Update

|

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

60

$1,000,000

50

$800,000

40

$600,000

30

$400,000

20

$200,000

10

$-

0

2013

2014

2015

2016

Average Selling Price

2017 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}

Q3

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

{2017 v 2016}

Change

9%

11%

-

2%

9%

-22%

2017

$1,043,173

$997,854

-4%

$817,500

49

42

2016

$960,298

$898,287

-6%

$799,000

45

54

2015

$935,935

$897,082

-4%

$731,000

46

52

2014

$938,326

$894,830

-5%

$676,250

38

65

2013

$762,626

$723,703

-5%

$711,250

46

73

Monterey Peninsula Q3 Market Update / Pacific Grove / 18

at a glance {Q3 | 2017}

pacific grove

11

%

Change in Average Selling Price {2017 v 2016}

9

%

Change in Units Sold {2017 v 2016}

49 Units Sold

1.0m

$

Average Selling Price

at a glance {Q3 | 2017}

pebble beach

-21

%

Change in Average Selling Price {2017 v 2016}

6

%

Change in Units Sold {2017 v 2016}

37 Units Sold

2.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold 38

$3,500,000

37

$3,000,000

36

$2,500,000

35 34

$2,000,000

33 $1,500,000

32 31

$1,000,000

30

$500,000

29

$-

28

2013

2014

2015

2016

Average Selling Price

2017 Total Units Sold

About

Pebble Beach 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}

Q3

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

{2017 v 2016}

Change

-27%

-21%

-

17%

6%

-22%

2017

$2,720,005

$2,333,808

-14%

$1,850,000

37

98

2016

$3,701,443

$2,954,629

-20%

$1,580,000

35

126

2015

$2,054,081

$1,843,392

-10%

$1,315,000

31

115

2014

$2,472,715

$2,148,404

-13%

$1,610,000

34

92

2013

$2,347,294

$2,119,940

-10%

$1,052,500

36

94

21

/ Pebble Beach / Monterey Peninsula Q3 Market Update

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

PEBBLE BEACH

Romantic Mediterranean Estate Last asking $4,400,000

PACIFIC GROVE

Bay Front Arts & Crafts Home Last asking $3,780,000 PEBBLE BEACH

California Dreaming Last asking $3,495,000 CARMEL VALLEY

TreVista Last asking $2,995,000 CARMEL

Captivating Carmel Last asking $2,095,000 *in order from left to right, top to bottom

sothebyshomes.com/monterey 23

/ Significant Sales / Monterey Peninsula Q3 Market Update

Property from a Distinguished Private Collection ANDY WARHOL Dollar Sign, 1981 To be sold 16 November in New York Contemporary Art Evening Auction

November 2017 New York Auction Calendar

Impressionist & Modern Art Evening Sale Auction 14 November Impressionist & Modern Art Day Sale Auction 15 November Contemporary Art Evening Auction Auction 16 November Contemporary Art Day Auction Auction 17 November

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

1334 YORK AVENUE, NEW YORK, NY 10021 ENQUIRIES +1 212 606 7000 SOTHEBYSHOMES.COM SOTHEBYS.COM/AUCTIONS FOLLOW US @SOTHEBYS © 2017 ANDY WARHOL FOUNDATION FOR THE VISUAL ARTS / ARTISTS RIGHTS SOCIETY (ARS), NEW YORK SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2017