Monterey Real Estate Update – 2nd Quarter 2013
I am pleased to report that MLS data from the second quarter of this year illustrated a continuation of the positive trends the Monterey Peninsula residential real estate market experienced in Q1.
In the second quarter of 2013, the average sales price increased 13% over the same quarter in 2012. Sales of single family homes rose from 283 to 295. The average list price to sales price discount for all price ranges improved with sales prices reaching 96% of the asking price in the second quarter.
The most improved market segment was in the Monterey Salinas Highway corridor, which saw a 28% increase in the units sold, going from 47 properties sold in the second quarter of 2012 to 60 in the second quarter of 2013. Pebble Beach saw a very significant increase of 65% in average sales price, going from $1,572,779 to $2,589,243.