Monterey Peninsula Market Update Q3 2018

Q3 | 2018

Monterey Peninsula

Market Update

PEBBLE BEACH

sothebyshomes.com/0475261

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 DRE: 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

CARMEL

Stunning Cottage in Carmel Estates | Offered at $1,795,000

sothebyshomes.com/0475481

PACIFIC GROVE

Offered at $1,126,000 sothebyshomes.com/1210686 MONTEREY

Offered at $2,500,000 sothebyshomes.com/1210685 MONTEREY

Offered at $988,000 sothebyshomes.com/0474670 CARMEL

Offered at $7,100,000 sothebyshomes.com/0475165 *in order from left to right, top to bottom

sothebyshomes.com/monterey

5

/ Featured Properties / Monterey Peninsula Q3 Market Update

Market Snapshot

Monterey Peninsula | Q3 2018

Big Sur Coast Pebble Beach Carmel

$1,800,000

350

$1,600,000

345

$1,400,000

340 335

$1,200,000

Pacific Grove

330

$1,000,000

325 $800,000

Monterey/Salinas Hwy

Carmel Valley

Carmel

Carmel Val ley

Monterey

Monterey/Salinas Hwy

Total Units Sold 4 66 51 73 47 47 33

315

$400,000

310

$200,000

305 300

$-

Monterey

Sur Coast

320

$600,000

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

$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$-

2014

Big Sur Coast Pacific Grove

Big Sur

2015

2016

Carmel

2017

Carmel Val ley

Monterey

Average Price Hwy Pebble Beach SellingMonterey/Salinas Over Five Years by Area

Carmel

Monterey/Salinas Highway

Carmel Valley

Pacific Grove

7

2018

Monterey

Pebble Beach

/ Q3 Highlights / Monterey Peninsula Q3 Market Update

at a glance {Q3 | 2018}

big sur

-43

%

Change in Average Selling Price {2018 v 2017}

300

%

Change in Units Sold {2018 v 2017}

4

Unit Sold

925k

$

Average Selling Price

|

Average Selling Price Total Units Sold 4.5

$6,000,000

4

$5,000,000

3.5 3

$4,000,000

2.5

$3,000,000

2 1.5

$2,000,000

1

$1,000,000

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}

Q3

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

{2018 v 2017}

Change

-47%

-43%

-

-35%

300%

163%

2018

$1,318,500

$924,750

-30%

$1,049,500

4

263

2017

$2,500,000

$1,625,000

-35%

$1,625,000

1

100

2016

$-

$-

0%

$-

0

0

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

9

/ Big Sur / Monterey Peninsula Q3 Market Update

|

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

76 74

$2,000,000

72 70

$1,500,000

68 $1,000,000

66 64

$500,000

62 $-

60

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}

Q3

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

{2018 v 2017}

Change

36%

34%

-

31%

-4%

-5%

2018

$2,556,482

$2,310,785

-10%

$1,822,900

66

68

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

Monterey Peninsula Q3 Market Update / Carmel / 10

at a glance {Q3 | 2018}

carmel

34

%

Change in Average Selling Price {2018 v 2017}

-4

%

Change in Units Sold {2018 v 2017}

66 Units Sold

2.3m

$

Average Selling Price

at a glance {Q3 | 2018}

carmel valley

14

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

51 Units Sold

1.1m

$

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

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}

Q3

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

{2018 v 2017}

Change

14%

14%

-

-5%

0%

-18%

2018

$1,221,273

$1,123,828

-8%

$865,000

51

78

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

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

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}

Q3

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

{2018 v 2017}

Change

22%

19%

-

19%

-1%

48%

2018

$933,540

$880,148

-6%

$810,000

73

50

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

Monterey Peninsula Q3 Market Update / Monterey / 14

at a glance {Q3 | 2018}

monterey

19

%

Change in Average Selling Price {2018 v 2017}

-1

%

Change in Units Sold {2018 v 2017}

73 Units Sold

880k

$

Average Selling Price

at a glance {Q3 | 2018}

monterey | salinas highway

11

%

Change in Average Selling Price {2018 v 2017}

-10

%

Change in Units Sold {2018 v 2017}

44 Units Sold

1.1m

$

Average Selling Price

|

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

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}

Q3

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

{2018 v 2017}

Change

13%

11%

-

7%

-10%

40%

2018

$1,175,719

$1,105,989

-6%

$877,000

44

59

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

17

/ Monterey | Salinas Highway / Monterey Peninsula Q3 Market Update

|

Average Selling Price Total Units Sold 60

$1,040,000 $1,020,000

50

$1,000,000 $980,000

40

$960,000 $940,000

30

$920,000 $900,000

20

$880,000 $860,000

10

$840,000 $820,000

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}

Q3

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

{2018 v 2017}

Change

4%

2%

-

4%

-4%

10%

2018

$1,085,169

$1,017,467

-6%

$850,000

47

47

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

Monterey Peninsula Q3 Market Update / Pacific Grove / 18

at a glance {Q3 | 2018}

pacific grove

2

%

Change in Average Selling Price {2018 v 2017}

-4

%

Change in Units Sold {2018 v 2017}

47 Units Sold

1.0m

$

Average Selling Price

at a glance {Q3 | 2018}

pebble beach

81

%

Change in Average Selling Price {2018 v 2017}

-11

%

Change in Units Sold {2018 v 2017}

33 Units Sold

4.2m

$

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

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. 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

{2018 v 2017}

Change

72%

81%

-

1%

-11%

-41%

2018

$4,675,463

$4,222,409

-10%

$1,875,000

33

58

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

21

/ Pebble Beach / Monterey Peninsula Q3 Market Update

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

CARMEL

“Misty�

Last asking $8,475,000

MONTEREY

Amazing Resort Lifestyle in Pasadera Last asking $1,480,000 CARMEL

Modern Craftsman Last asking $3,400,000 PEBBLE BEACH

Awe-Inspiring Home Last asking $1,607,000 CARMEL VALLEY

Tranquility and Beauty.

Last asking $1,525,000 *in order from left to right, top to bottom

sothebyshomes.com/monterey 23

/ Significant Sales / Monterey Peninsula Q3 Market Update

w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com

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