Monterey Peninsula Market Update Q4 2018

Q4 | 2018

Monterey Peninsula

Market Update

PEBBLE BEACH

sothebyshomes.com/0475584

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 /MO NTER EY

CARMEL

Unsurpassed Beauty | Offered at $7,100,000

sothebyshomes.com/0474670

PACIFIC GROVE

Offered at $1,899,000 sothebyshomes.com/1210720 PEBBLE BEACH

Offered at $16,500,000 sothebyshomes.com/0475587 MONTEREY

Offered at $1,795,000 sothebyshomes.com/0475306 CARMEL VALLEY

Offered at $2,995,000 sothebyshomes.com/0474513 *in order from left to right, top to bottom

sothebyshomes.com/monterey

5

/ Featured Properties / Monterey Peninsula Q4 Market Update

Sur Coast

Market Snapshot

Monterey Peninsula | Q4 2018

Big Sur Coast $1,380,0 00

Pebble Beach

340 330

$1,360,000

320

Carmel $1,340,000

Pacific Grove

31 0 300

$1,320,000

290 $1,300,000

Monterey/Salinas Hwy Carmel Valley

280 270

$1,280,0 00

260

$1,260,000

Carmel Val ley

Monterey

2014 2015 2016 2017 2018

Monterey/Salinas Hwy

Total Units Sold 2 60 52 61 38 40 26

240

$1,240,000

Monterey

Carmel

250

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

$4,000,00 0 $3,500,00 0 $3,000 ,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,00 0 $-

2014

Big Sur Coast Pacific Grove

Big Sur

2015

2016

Carmel

2017

Carmel Val ley

2018

Monterey

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

Carmel

Monterey/Salinas Highway

Carmel Valley

Pacific Grove

7

Monterey

Pebble Beach

/ Q3 Highlights / Monterey Peninsula Q4 Market Update

at a glance {Q4 | 2018}

big sur

97

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

2

Unit Sold

1.6m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,800,000

6

$1,600,000

5

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

4

$1,000,000

3

$800,000 $600,000

2

$400,000

1

$200,000

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}

Q4

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

{2018 v 2017}

Change

80%

97%

-

97%

0%

-20%

2018

$1,847,500

$1,618,750

-12%

$1,618,750

2

195

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

9

/ Big Sur / Monterey Peninsula Q4 Market Update

|

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

90 80

$2,000,000

70 60

$1,500,000

50 40

$1,000,000

30 20

$500,000

10 $-

0

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}

Q4

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

{2018 v 2017}

Change

10%

14%

-

2%

-22%

-18%

2018

$2,373,214

$2,177,030

-8%

$1,596,500

60

76

2017

$2,147,877

$1,912,264

-11%

$1,560,000

77

92

2016

$1,916,551

$1,754,687

-8%

$1,320,000

59

84

2015

$2,307,456

$2,123,943

-8%

$1,442,500

68

96

2014

$2,026,024

$1,804,534

-11%

$1,499,000

63

102

Monterey Peninsula Q4 Market Update / Carmel / 10

at a glance {Q4 | 2018}

carmel

14

%

Change in Average Selling Price {2018 v 2017}

-22

%

Change in Units Sold {2018 v 2017}

60 Units Sold

2.2m

$

Average Selling Price

at a glance {Q4 | 2018}

carmel valley

10

%

Change in Average Selling Price {2018 v 2017}

4

%

Change in Units Sold {2018 v 2017}

52 Units Sold

1.1m

$

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

$-

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}

Q4

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

{2018 v 2017}

Change

5%

10%

-

8%

4%

-27%

2018

$1,237,913

$1,143,550

-8%

$926,250

52

70

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

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

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}

Q4

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

{2018 v 2017}

Change

-10%

-11%

-

-4%

-8%

-15%

2018

$767,138

$723,789

-6%

$719,000

61

48

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

Monterey Peninsula Q4 Market Update / Monterey / 14

at a glance {Q4 | 2018}

monterey

-11

%

Change in Average Selling Price {2018 v 2017}

-8

%

Change in Units Sold {2018 v 2017}

61 Units Sold

700k

$

Average Selling Price

at a glance {Q4 | 2018}

monterey | salinas highway

-5

%

Change in Average Selling Price {2018 v 2017}

-34

%

Change in Units Sold {2018 v 2017}

38 Units Sold

1m

$

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}

Q4

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

{2018 v 2017}

Change

-7%

-5%

-

6%

-34%

-5%

2018

$1,058,268

$1,004,105

-5%

$832,000

38

56

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

17

/ Monterey | Salinas Highway / Monterey Peninsula Q4 Market Update

|

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

50 45

$1,200,000

40

$1,000,000

35

$800,000

30 25

$600,000

20 15

$400,000

10

$200,000

5

$-

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}

Q4

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

{2018 v 2017}

Change

24%

24%

-

6%

11%

3%

2018

$1,284,311

$1,203,034

-6%

$950,000

40

56

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

Monterey Peninsula Q4 Market Update / Pacific Grove / 18

at a glance {Q4 | 2018}

pacific grove

24

%

Change in Average Selling Price {2018 v 2017}

11

%

Change in Units Sold {2018 v 2017}

40 Units Sold

1.2m

$

Average Selling Price

at a glance {Q4 | 2018}

pebble beach

-24

%

Change in Average Selling Price {2018 v 2017}

-32

%

Change in Units Sold {2018 v 2017}

26 Units Sold

1.8m

$

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

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}

Q4

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

{2018 v 2017}

Change

-24%

-24%

-

-8%

-32%

70%

2018

$2,093,442

$1,843,958

-12%

$1,496,950

26

139

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

21

/ Pebble Beach / Monterey Peninsula Q4 Market Update

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

CARMEL

Fanta-sea in Carmel Highlands Last asking $5,300,000

CARMEL

Carmel Charm in Hatton Fields Last asking $1,200,000 CARMEL

Cabinwood in Carmel-by-the-Sea Last asking 2,749,000 MONTEREY

Serenity in the Forest Last asking $1,075,000 CARMEL VALLEY

Treetops Last asking $1,150,000 *in order from left to right, top to bottom

sothebyshomes.com/monterey 23

/ Significant Sales / Monterey Peninsula Q4 Market Update

PHOTO BY PAUL VAN COTTHEM ON UNSPLASH

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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