Monterey Peninsula Market Update During Corona Virus Stay At Home Order
Many people have been asking what the Stay At Home order is doing to the real estate market. Below are some basic weekly market activity statistics for Monterey Peninsula cities for the past 4 weeks (from March 3rd thru March 30, 2020.
In general the market has been pretty sluggish as you can imagine. I know there are a lot of buyers who want to look at properties however the Shelter in Place order from the county has left Realtors unable to show property as they are sheltering in place as ordered.
Inventory has increased by 19% over the past 4 weeks, which can be a good things since inventory has been so tight. However new weekly inventory coming on the market has slowed by almost half over the past 4 weeks from 45 new listings the first of the month down to an anemic 23 new listings last week. Finally, the number of homes going under contract has dropped from 21 the first week of March to only 12 last week.
Normally the month of March is when we see inventory start to build and the real estate market start to take flight. The year started off with a bang. We will need to see what the next month of sheltering in place and social distancing does to the market.
Monterey Peninsula Market Statistics during Corona Virus Stay at Home Order |
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March 3, 2020 through March 9, 2020 | |||||
City | Active Listings | New Listings | Went Under Contract | Off Market | Closed Escrow |
Carmel | 104 | 10 | 6 | 0 | 3 |
Carmel Highlands | 5 | 0 | 0 | 0 | 1 |
Carmel Valley | 42 | 5 | 1 | 1 | 2 |
Del Rey Oaks | 2 | 2 | 1 | 0 | 0 |
Marina | 19 | 7 | 7 | 0 | 2 |
Monterey | 43 | 5 | 2 | 2 | 6 |
Pacific Grove | 30 | 7 | 2 | 0 | 3 |
Pebble Beach | 62 | 5 | 1 | 0 | 2 |
Seaside | 12 | 4 | 1 | 2 | 3 |
Monterey Peninsula | 319 | 45 | 21 | 5 | 22 |
Monterey Peninsula Market Statistics during Corona Virus Stay at Home Order |
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March 10, 2020 through March 16, 2020 | |||||
City | Active Listings | New Listings | Went Under Contract | Off Market | Closed Escrow |
Carmel | 110 | 7 | 4 | 4 | 6 |
Carmel Highlands | 5 | 0 | 0 | 0 | 0 |
Carmel Valley | 44 | 3 | 1 | 1 | 1 |
Del Rey Oaks | 2 | 1 | 2 | 0 | 0 |
Marina | 22 | 5 | 4 | 0 | 5 |
Monterey | 49 | 8 | 2 | 2 | 2 |
Pacific Grove | 32 | 3 | 2 | 1 | 3 |
Pebble Beach | 63 | 2 | 1 | 5 | 2 |
Seaside | 16 | 8 | 2 | 2 | 1 |
Monterey Peninsula | 343 | 37 | 18 | 15 | 20 |
Monterey Peninsula Market Statistics during Corona Virus Stay at Home Order |
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March 17, 2020 through March 23, 2020 | |||||
City | Active Listings | New Listings | Went Under Contract | Off Market | Closed Escrow |
Carmel | 111 | 2 | 7 | 6 | 8 |
Carmel Highlands | 5 | 0 | 0 | 0 | 0 |
Carmel Valley | 44 | 2 | 2 | 2 | 5 |
Del Rey Oaks | 3 | 1 | 0 | 0 | 0 |
Marina | 25 | 3 | 2 | 2 | 2 |
Monterey | 52 | 4 | 3 | 4 | 5 |
Pacific Grove | 34 | 5 | 2 | 4 | 2 |
Pebble Beach | 67 | 4 | 1 | 2 | 0 |
Seaside | 19 | 4 | 1 | 2 | 3 |
Monterey Peninsula | 360 | 25 | 18 | 22 | 25 |
Monterey Peninsula Market Statistics during Corona Virus Stay at Home Order |
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March 24, 2020 through March 30, 2020 | |||||
City | Active Listings | New Listings | Went Under Contract | Withdrawn | Closed Escrow |
Carmel | 115 | 4 | 2 | 1 | 6 |
Carmel Highlands | 5 | 0 | 0 | 0 | 0 |
Carmel Valley | 46 | 2 | 2 | 1 | 3 |
Del Rey Oaks | 4 | 2 | 0 | 0 | 1 |
Marina | 31 | 7 | 1 | 1 | 3 |
Monterey | 55 | 3 | 2 | 3 | 2 |
Pacific Grove | 37 | 3 | 2 | 3 | 3 |
Pebble Beach | 67 | 0 | 0 | 3 | 3 |
Seaside | 20 | 2 | 3 | 1 | 3 |
Monterey Peninsula | 380 | 23 | 12 | 13 | 24 |