Inventory on the Monterey Peninsula continues to decline in many areas. In October 2008, the inventory for Monterey County was 2,726 single family homes for sale in comparison to just 1,442 in October 2009. Total number of sales have remained fairly constant while median sale prices saw an overall decline of 12% over the past 12 months. Median sales prices are skewed in areas such as the Carmel Highlands where the average home sale price was extremely high. Carmel inventory remains very high as Pacific Grove with a similar size and population continues to decline. The Carmel inventory reflects a large number of homes that were remodeled on spec.
Area
New Listings
Inventory
Closed Sales
Days on Market
Median Sales
Carmel
25
171
22
153
1,137,500
Carmel Highlands
4
34
2
284
3,462,500
Carmel Valley
17
133
7
238
1,250,000
Del Rey Oaks
3
6
1
24
475,000
Marina
13
34
15
48
370,000
Monterey
22
73
14
102
512,450
Pacific Grove
15
72
18
99
757,500
Pebble Beach
19
119
3
27
1,045,000
Seaside/Sand City
30
70
22
38
257,500
Popularity: 2% [?]
