Monterey County Real Estate Market Trends - JUNE 2013
Monterey County Property Sales
June property sales were 261, down from 297 in June of 2012 and -10.0% lower than the 290 sales last month. June 2013 sales were at their lowest level compared to June of 2012 and 2011. June YTD sales of 1,640 are running -8.4% behind last year's year-to-date sales of 1,791.
Monterey County Real Estate Prices
The median sales price in June was $395,000, up 43.6% from $275,000 in June of 2012 and down -0.6% from $397,475 last month. The average sales price in June was $526,187, up 14.4% from $459,970 in June of 2012 and down -15.8% from $625,044 last month. June 2013 ASP was at highest level compared to June of 2012 and 2011.
Monterey County Real Estate Inventory & Months Supply of Inventory (MSI)
The total inventory of properties available for sale as of June was 765, up 3.7% from 738 last month and down -32.8% from 1,138 in June of last year. June 2013 Inventory was at the lowest level compared to June of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2013 MSI of 2.9 months was at its lowest level compared with June of 2012 and 2011.
Monterey County Real Estate Days on Market for Sold Real Estate
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer's market, a downward trend a move towards more of a seller's market. The DOM for June was 52, down from 56 days last month and down from 68 days in June of last year. The June 2013 DOM was at its lowest level compared with June of 2012 and 2011.
Monterey County Real Estate Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The June 2013 selling price per square foot of $311 was down -5.8% from $330 last month and up 26.9% from $245 in June of last year.
Monterey County Real Estate Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer's market exists, a ratio at or above 100% indicates more of a seller's market. The June 2013 selling price vs list price of 100.3% was up from 99.5% last month and up from 98.4% in June of last year.
Monterey County Real Estate Inventory / New Listings / Sales
This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in June 2013 was 340, down -7.1% from 366 last month and down -5.6% from 360 in June of last year.
Based on information from MLSListings, Inc. for the period 1/1/2005 through 6/30/2013. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.