Monterey Homes Market Action Report Real Estate Sales for July 2010

Monterey homes July 2010 Property sales were 10, down 37.5% from 16 in July of 2009 and 28.6% lower than the 14 sales last month.  July 2010 sales were at their lowest level compared to July of 2009 and 2008.  July YTD sales of 67 are running 28.8% ahead of last year’s year-to date sales of 52.  The Median Sales Price in July was $505,500, up 7.3% from $471,000 in July of 2009 and down 8.1% from $550,000 last month.  The Total Inventory of Properties in Monterey available for sale as of July was 99, down 8.3% from 108 last month and up 41.4% from 70 in July of last year.  July 2010 Inventory was at a mid level compared with July of 2009 and 2008.

The highest home that sold was located on Herrmann Drive and sold for $750,000 this property was 3320 Sqft on a 9000 Sqft lot, the sale was a Trustee sale, the home had a peak of the Ocean and was on the market for 364 days which is typical for a Trustee sale.  The low sale of $315,000 was for a home sold on Larkin Street, it was 660 Sqft situated on a small lot, in the Monte Regio/Peter’s Gate subdivision.

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Market Action Report Monterey July 2010