Home owners living along the Salinas Monterey Highway should be pleased to see that June YTD sales of 82 are running 13.9% ahead of last year’s year-to-date sales of 72. Inventory levels of home on the market was 137 the lowest compared to June of 2009 and 2008. The big trend factor is median sales price for June was $540,950 down 21.6% from $639,000 in May 2010.
Selling price per square foot was $258 down 6.5% from the $276 last month. Market sales trends for the Salinas Monterey Highway homes corridor are slowly starting to stabilize and well priced property is selling. In June 2010 there were 18 homes that sold of these sales 9 or 47% were distressed sales (foreclosure or short sale.)
The highest June sale was for a 5245 SF home on Belavida which sold for $1,670,000 situated on almost 1 acre lot. The low sale was for $275,000 for a 1392 SF home on Monterey Salinas highway this home sold in 5 days and was a bank owned property. Preview the detailed Market Action Report below to understand real estate market conditions in your neighbourhood.