MARKET UPDATE | Q1 2013

monterey peninsula

SIX years of Average selling Prices | q1 | monterey peninsula*

$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
A MESSAGE FROM OUR MANAGER:
Janet Reilly

$2008

I am pleased to report that MLS data from the

first quarter continues the positive trends the
Monterey Peninsula residential real estate market
experienced through 2012*.
In the first quarter of 2013, there was a 24.5%
increase in units sold over the same quarter in
2012 as sales of single family homes rose from
192 to 239.The average list price to sales price
discount for all price ranges improved with sales
prices reaching 95% of the asking price in the first
quarter of 2013.

2009

2010

2011

2012

2013

Average Selling Price

monterey peninsula*
About the Area
Located on the central California coast, the beautiful
Monterey Peninsula offers great living in some of the
most desirable areas, including: Big Sur, Carmel, Carmel
Highlands, Carmel Valley, Monterey, Pacific Grove, Pebble

The most improved market segment was in

Carmel Valley, which saw a 106% increase in the
units sold, going from 15 properties sold in the
first quarter of 2012 to 31 in the first quarter of
2013. Carmel Valley also saw a significant increase
of 17% in average sales price, going from $699,733
to $830,158.

Beach and Monterey/Salinas Highway.

AVerage Sale Price | Total SFH Sold | Q1
$1,400,000

300

$1,200,000

250

$1,000,000

200

$800,000

150

$600,000

monterey peninsula brokerages

100

$400,000

50

$200,000

CARMEL RANCHO BROKERAGE

200 Clocktower Place | 831.624.1566

$-

0
2009

CARMEL BY-THE-SEA BROKERAGE

SNW Ocean Avenue | 831.624.0136

2010

2011

Average Selling Price

2012

2013

Units Sold

CARMEL VALLEY BROKERAGE

312 W. Carmel Valley Road | 831.659.2267
sothebyshomes.com/monterey
janet reilly
Vice President and Brokerage Manager
831.622.4810 | janet.reilly@sothebyshomes.com
* In this Update, data is for single-family homes.The Monterey Peninsula
is defined as the eight areas included in this report. All data within this
document is pulled from MLSListings, Inc.

single family homes | Q1

Units Sold

2009

2010

2011

2012

2013

90

113

149

192

239

Average Selling Price

$1,248,943

$975,850

$1,124,493

$933,190

$936,109

Average Listing Price

$1,405,965

$1,101,391

$1,229,921

$1,003,955

$986,638

89%

89%

91%

93%

95%

$712,500

$725,000

$795,000

$614,950

$735,000

143

150

159

141

110

Discount Ratio
Median
Average Days on Market

big sur
AVerage Sale Price | Total SFH Sold | Q1
$2,500,000

3.5
3

$2,000,000

About the Area

South of Carmel lies Big Sur, nearly 100 miles of
pristine, rugged coastline, where the Santa Lucia

2.5

$1,500,000

$1,000,000

1.5
1

$500,000

0.5
0

$-

Mountains rise precipitously from the Pacific Ocean,

2009

creating some of the most spectacular views and

2010

iconic imagery in America. Big Sur is best known for

2011

Average Selling Price

2012

2013

Units Sold

its natural untouched beauty.

single family homes | Q1

2009

2010

2011

2012

2013

Average Selling Price

$354,000

$-

$2,115,000

$985,000

$897,500

Average Listing Price

$399,900

$-

$2,724,500

$1,750,000

$968,333

89%

n/a

78%

56%

93%

$354,000

$-

$2,115,000

$985,000

$842,500

74

394

410

800

Units Sold

Discount Ratio
Median
Average Days on Market

CARMEL
AVerage Sale Price | Total SFH Sold | Q1

About the Area

Carmel was founded as an enclave for artists
around the turn of the century and remains

$2,500,000

50

$2,000,000

40

$1,500,000

30

$1,000,000

20

$500,000

10

$-

true to its bohemian roots today. With its idyllic

0
2009

location, its pristine beaches and a village with

first-rate dining, shopping and charming inns,

2010

2011

Average Selling Price

2012

2013

Units Sold

Carmel is a haven for visitors and locals alike.

single family homes | Q1
Units Sold

2009

2010

2011

2012

2013

24

26

40

39

46

Average Selling Price

$2,015,598

$1,277,673

$1,349,997

$1,374,148

$1,575,753

Average Listing Price

$2,309,279

$1,422,565

$1,458,383

$1,485,977

$1,671,433

Discount Ratio
Median
Average Days on Market

SERVING THE MONTEREY PENINSULA

87%

90%

93%

92%

94%

$1,350,000

$987,500

$1,085,000

$925,000

$1,230,000

150

132

115

167

133

carmel highlands
AVerage Sale Price | Total SFH Sold | Q1
$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000
$-

0
2009

2010

2011

Average Selling Price

2012

2013

About the Area

A few short miles south of Carmel, along the
winding Pacific Coast Highway, are the Carmel
Highlands. Homes in the Highlands sit above the
sea, and from their sheltered perch, many have
enviable views of the dramatic and ever-changing

Units Sold

coastline.
single family homes | Q1

2009

2010

2011

2012

2013

Average Selling Price

$3,900,000

$877,500

$4,850,000

$2,650,000

$-

Average Listing Price

$4,725,000

$947,000

$5,597,500

$3,053,750

$-

83%

93%

87%

87%

n/a

$3,900,000

$877,500

$4,850,000

$2,700,000

$-

33

255

58

287

Units Sold

Discount Ratio
Median
Average Days on Market

CARMEL VALLEY
AVerage Sale Price | Total SFH Sold | Q1
$1,200,000

35

$1,000,000

30
25

$800,000

20

$600,000

15

$400,000

10

$200,000

$-

0
2009

2010

2011

Average Selling Price

2012

2013

About the Area

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

Units Sold

numerous golf courses and wineries.

single family homes | Q1

2009

2010

2011

2012

2013

13

23

22

15

31

Average Selling Price

$963,231

$716,761

$876,809

$699,733

$820,158

Average Listing Price

$1,049,877

$800,504

$927,986

$722,227

$869,958

92%

90%

94%

97%

94%

$750,000

$500,000

$752,500

$575,000

$777,500

161

195

189

103

143

Units Sold

Discount Ratio
Median
Average Days on Market

sothebyshomes.com/monterey

MONTEREY
AVerage Sale Price | Total SFH Sold | Q1
40
35
30
25
20
15
10
5
0

$700,000
$600,000
$500,000
$400,000

About the Area

$300,000

Monterey is the geographical and social center

$200,000

of the Peninsula. Its remarkable waterfront lies

$100,000
$-

along Monterey Bay National Marine Sanctuary.

2009

Fishermans Wharf, Cannery Row and the famous

2010

Monterey Bay Aquarium stretch along the

2011

Average Selling Price

2012

2013

Units Sold

vibrant waterfront.
single family homes | Q1
Units Sold

2009

2010

2011

2012

2013

10

22

34

38

Average Selling Price

$571,667

$653,843

$500,655

$514,121

$511,831

Average Listing Price

$614,833

$689,960

$523,495

$532,146

$519,973

Discount Ratio
Median
Average Days on Market

93%

95%

96%

97%

98%

$520,000

$697,500

$417,500

$495,625

$502,500

83

143

149

96

87

Monterey/salinas highway
AVerage Sale Price | Total SFH Sold | Q1
$1,000,000

60

$800,000

50
40

$600,000

About the Area

Salinas lies directly east of the Monterey
Peninsula and is the county seat and largest city

30

$400,000

20

$200,000

10

$-

in Monterey County. Situated in the lush and

0
2009

fertile Salinas Valley, known as the Salad Bowl

2010

of America,Salinas has a thriving agricultural

2011

Average Selling Price

2012

2013

Units Sold

economy.
single family homes | Q1
Units Sold

2009

2010

2011

2012

2013

20

23

24

37

49

Average Selling Price

$649,255

$686,266

$824,017

$700,019

$709,255

Average Listing Price

$689,467

$723,161

$910,694

$735,522

$738,257

Discount Ratio
Median
Average Days on Market

SERVING THE MONTEREY PENINSULA

94%

95%

90%

95%

96%

$588,000

$605,000

$552,000

$530,000

$525,000

157

162

221

137

81

pacific grove
AVerage Sale Price | Total SFH Sold | Q1
$1,000,000

50

$800,000

40

$600,000

30

$400,000

20

$200,000

10

$-

0
2009

2010

2011

Average Selling Price

2012

2013

About the Area

Popularly known as Americas 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

Units Sold

downtown.
single family homes | Q1
Units Sold

2009

2010

2011

2012

2013

14

13

25

35

40

Average Selling Price

$894,752

$714,462

$730,960

$572,283

$703,635

Average Listing Price

$939,950

$762,335

$751,708

$600,283

$717,174

Discount Ratio
Median
Average Days on Market

95%

94%

97%

95%

98%

$605,000

$635,000

$545,000

$520,000

$636,250

136

79

135

126

74

pebble beach
AVerage Sale Price | Total SFH Sold | Q1
$3,000,000

35

$2,500,000

30
25

$2,000,000

20

$1,500,000

15

$1,000,000

10

$500,000

$-

0
2009

2010

2011

Average Selling Price

2012

2013

About the Area

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

Units Sold

in the world.
single family homes | Q1
Units Sold

2009

2010

2011

2012

2013

16

12

27

32

Average Selling Price

$1,813,986

$1,700,028

$2,605,417

$1,484,776

$1,274,364

Average Listing Price

$2,161,964

$2,107,638

$2,974,750

$1,618,174

$1,388,320

Discount Ratio
Median
Average Days on Market

84%

81%

88%

92%

92%

$1,616,653

$1,045,225

$1,907,500

$1,042,500

$1,035,500

183

144

174

175

100

sothebyshomes.com/monterey