Monterey Peninsula Market Update Q4

Q4 | 2017

Monterey Peninsula

Market Update

MONTEREY

sothebyshomes.com/0475015

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Monterey Peninsula Brokerages carmel ocean avenue

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Janet Reilly / Senior Vice President/ Brokerage Manager carmel valley brokerage

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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 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

Mediterranean Architectural Masterpiece Offered at $9,500,000 sothebyshomes.com/0474939

CARMEL

Offered at $1,899,000 sothebyshomes.com/0474970 CARMEL HIGHLANDS

Offered at $1,579,000 sothebyshomes.com/0474928 PACIFIC GROVE

Offered at $1,025,000 sothebyshomes.com/1210614 MONTEREY

Offered at $539,000 sothebyshomes.com/0475047 *in order from left to right, top to bottom

sothebyshomes.com/monterey

5

/ Featured Properties / Monterey Peninsula Q4 Market Update

g Sur Coast

Market Snapshot

Monterey Peninsula | Q4 2017

Big Sur Coast

Pebble Beach Carmel

$1,600,000

350

$1,400,000

300

$1,200,000

Pacific Grove

250

$1,000,000 200

Monterey/Salinas Hwy Carmel Valley

$800,000 150 $600,000 100

$400,000 Monterey

50

$200,000

0

$-

2013 2014 2015 2016 2017 Carmel

Carmel Valley

Monterey

Monterey/Salinas Hwy

Total Units Sold 2 77 50 66 58 36 38

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

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

2013

Big Sur Coast Pacific Grove

Big Sur

2014

2015

2016

Carmel

Carmel Valley

Pebble Beach

Monterey/Salinas Hwy

2017

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 | 2017}

big sur

-25

%

Change in Average Selling Price {2017 v 2016}

-60

%

Change in Units Sold {2017 v 2016}

2

Unit Sold

0.8m

$

Average Selling Price

|

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

6

$1,200,000

5

$1,000,000

4

$800,000 3 $600,000 2

$400,000

1

$200,000 $-

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}

Q4

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

{2017 v 2016}

Change

-32%

-25%

-

-32%

-60%

-14%

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

2014

$1,656,920

$1,303,200

-21%

$1,260,000

5

192

2013

$649,850

$537,450

-17%

$537,450

2

57

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

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}

Q4

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 Q4 Market Update / Carmel / 10

at a glance {Q4 | 2017}

carmel

12

%

Change in Average Selling Price {2017 v 2016}

31

%

Change in Units Sold {2017 v 2016}

77 Units Sold

1.9m

$

Average Selling Price

at a glance {Q4 | 2017}

carmel valley

-18

%

Change in Average Selling Price {2017 v 2016}

16

%

Change in Units Sold {2017 v 2016}

50 Units Sold

1.0m

$

Average Selling Price

|

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

60

$1,200,000

50

$1,000,000

40

$800,000 30 $600,000 20

$400,000

10

$200,000 $-

0

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}

Q4

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

{2017 v 2016}

Change

-8%

-11%

-

-24%

16%

62%

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

2014

$1,096,134

$920,900

-16%

$660,000

18

96

2013

$1,108,763

$976,211

-12%

$910,000

19

106

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

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}

Q4

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

{2017 v 2016}

Change

20%

22%

-

16%

18%

27%

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

2014

$807,600

$744,773

-8%

$642,000

71

78

2013

$744,597

$691,139

-7%

$556,750

74

83

Monterey Peninsula Q4 Market Update / Monterey / 14

at a glance {Q4 | 2017}

monterey

22

%

Change in Average Selling Price {2017 v 2016}

18

%

Change in Units Sold {2017 v 2016}

66 Units Sold

0.8m

$

Average Selling Price

at a glance {Q4 | 2017}

monterey | salinas highway

-28

%

Change in Average Selling Price {2017 v 2016}

-14

%

Change in Units Sold {2017 v 2016}

58 Units Sold

1.0m

$

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

$-

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}

Q4

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

{2017 v 2016}

Change

28%

28%

-

7%

14%

-23%

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

2014

$972,858

$896,348

-8%

$777,500

36

88

2013

$945,647

$855,891

-9%

$725,000

50

103

17

/ Monterey | Salinas Highway / Monterey Peninsula Q4 Market Update

|

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

50 45

$950,000

40 35

$900,000

30

$850,000

25 20

$800,000

15 10

$750,000

5

$700,000

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}

Q4

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

{2017 v 2016}

Change

8%

8%

-

12%

-3%

-4%

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

2014

$892,306

$838,533

-6%

$739,000

47

59

2013

$905,353

$820,934

-9%

$655,000

45

88

Monterey Peninsula Q4 Market Update / Pacific Grove / 18

at a glance {Q4 | 2017}

pacific grove

8

%

Change in Average Selling Price {2017 v 2016}

-3

%

Change in Units Sold {2017 v 2016}

36 Units Sold

0.9m

$

Average Selling Price

at a glance {Q4 | 2017}

pebble beach

-32

%

Change in Average Selling Price {2017 v 2016}

36

%

Change in Units Sold {2017 v 2016}

38 Units Sold

2.4m

$

Average Selling Price

|

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

45

$3,500,000

40

$3,000,000

35 30

$2,500,000

25

$2,000,000

20

$1,500,000

15

$1,000,000

10

$500,000

5

$-

0

2013

2014

2015

2016

Average Selling Price

2017 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}

Q4

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

{2017 v 2016}

Change

-34%

-32%

-

-7%

36%

-36%

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

2014

$2,869,316

$2,607,174

-9%

$1,065,000

31

100

2013

$1,754,539

$1,569,786

-11%

$1,150,000

23

130

21

/ Pebble Beach / Monterey Peninsula Q4 Market Update

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

MONTERRA

La Maison En Harmonie Last asking $3,595,000

PEBBLE BEACH

Striking Ocean View Home Near The Lodge Last asking $6,795,000 CARMEL

In the Heart of It All Last asking $1,695,000 CARMEL VALLEY

Picturesque Ranch-Style Home Last asking $1,595,000 MONTEREY

Magnificent Gated Estate Last asking $1,475,000 *in order from left to right, top to bottom

sothebyshomes.com/monterey 23

/ Significant Sales / Monterey Peninsula Q4 Market Update

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