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Monterey County Houses as of February 5, 2002

Available

Sep-01

Oct-01

 

Nov-01

Dec-01

Jan-02

 

Jan-01

Jan-00

DOM med

77

84

 

93

102

90

r

n/a

n/a

DOM ave

103

112

c

121

133

125

i

n/a

n/a

Inventory

1128

1063

y

943

857

855

c

540

n/a

 

 

 

n

 

 

 

h

 

 

Sales

Sep-01

Oct-01

t

Nov-01

Dec-01

Jan-02

a

Jan-01

Jan-00

SP 10%

$239,000

$236,200

h

$237,600

$250,000

tbd

r

$228,190

$169,560

SP 50% med

$332,500

$354,500

i

$370,000

$359,500

tbd

d

$342,500

$352,700

SP 90%

$703,900

$747,000

a

$899,600

$830,500

tbd

c

$1,193,000

$971,000

LP med

$349,500

$365,000

h

$370,000

$369,000

$399,000

a

$350,000

$365,000

SP/LP ave

96.0%

95.9%

a

95.9%

95.7%

tbd

l

97.7%

97.4%

%SP>LP

5.8%

5.8%

i

6.6%

4.5%

tbd

h

12.3%

11.5%

%SP<LP

87.1%

79.6%

n

81.2%

81.1%

tbd

o

53.8%

61.29%

DOM med

67

65

e

76

70

93

u

30

43

DOM ave

82

89

s

98

100

117

n

58

91

# Sales

175

225

@

229

198

264

@

197

238

# TFT

158

204

c

213

184

tbd

c

172

217

% TFT

9.7%

9.3%

r

7.0%

7.1%

tbd

r

12.7%

8.8%

 

 

 

e

 

 

 

e

 

 

Closings

Sep-01

Oct-01

e

Nov-01

Dec-01

Jan-02

e

Jan-01

Jan-00

SP 10%

$235,050

$239,450

k

$243,400

$254,100

$237,800

k

$239,700

$166,450

SP 50% med

$375,000

$350,500

s

$350,000

$357,500

$367,500

s

$352,000

$321,672

SP 90%

$991,500

$835,000

i

$731,000

$767,500

$998,000

i

$980,000

$1,341,000

LP med

$387,000

$369,450

d

$359,000

$369,000

$375,000

d

$359,000

$349,500

SP/LP ave

96.6%

96.7%

e

95.9%

96.0%

95.8%

e

97.9%

97.2%

%SP>LP

6.3%

8.5%

r

4.8%

8.0%

4.4%

r

20.3%

17.5%

%SP<LP

77.1%

81.8%

e

83.8%

80.9%

78.7%

e

47.7%

63.0%

DOM med

70

50

a

74

68

76

a

32

41

DOM ave

86

76

l

87

92

103

l

55

81

# Closings

144

176

t

167

188

183

t

150

189

Updated #

149

183

y

172

tbd

tbd

y

153

190

 

 

 

.

 

 

 

.

 

 

Off-Market

Sep-01

Oct-01

c

Nov-01

Dec-01

Jan-02

c

Jan-01

Jan-00

DOM med

134

125

o

161

171

172

o

n/a

n/a

DOM ave

147

150

m

174

186

192

m

n/a

n/a

# Off

99

157

 

153

150

118

 

n/a

n/a

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Monterey County Condos as of February 5, 2002

Available

Sep-01

Oct-01

 

Nov-01

Dec-01

Jan-02

 

Jan-01

Jan-00

DOM med

66

76

 

82

99

98

r

n/a

n/a

DOM ave

87

94

c

104

116

116

i

n/a

n/a

Inventory

123

129

y

119

107

111

c

36

n/a

 

 

 

n

 

 

 

h

 

 

Sales

Sep-01

Oct-01

t

Nov-01

Dec-01

Jan-02

a

Jan-01

Jan-00

SP 10%

$171,500

$151,470

h

$181,000

$153,780

Tbd

r

$165,200

$112,750

SP 50% med

$227,500

$217,500

i

$289,500

$290,000

Tbd

d

$269,500

$230,125

SP 90%

$450,000

$339,000

a

$450,000

$555,000

Tbd

c

$549,000

$571,000

LP med

$229,750

$245,000

h

$289,555

$289,000

$261,850

a

$285,000

$210,000

SP/LP ave

97.0%

98.0%

a

96.1%

94.8%

Tbd

l

98.5%

98.1%

%SP>LP

9.5%

4.3%

i

0.0%

0.0%

tbd

h

12.0%

23.1%

%SP<LP

61.9%

52.2%

n

86.7%

100.0%

tbd

o

64.0%

50.0%

DOM med

38

30

e

52

47

73

u

21

16

DOM ave

48

62

s

97

57

91

n

59

38

# Sales

24

29

@

17

16

28

@

29

27

# TFT

21

24

c

16

13

tbd

c

25

26

% TFT

12.5%

17.2%

r

5.9%

18.8%

tbd

r

13.8%

3.7%

 

 

 

e

 

 

 

e

 

 

Closings

Sep-01

Oct-01

e

Nov-01

Dec-01

Jan-02

e

Jan-01

Jan-00

SP 10%

$180,000

$157,800

k

$152,450

$151,200

$184,500

k

$165,000

$120,300

SP 50% med

$229,000

$227,500

s

$197,500

$255,250

$293,000

s

$295,000

$355,000

SP 90%

$615,000

$432,200

i

$345,000

$385,000

$603,000

i

$575,000

$574,500

LP med

$230,000

$234,500

d

$202,000

$268,000

$315,000

d

$305,000

$350,000

SP/LP ave

98.4%

96.4%

e

98.6%

97.2%

95.9%

e

98.0%

98.1%

%SP>LP

9.5%

4.0%

r

12.5%

5.9%

6.7%

r

12.0%

30.0%

%SP<LP

47.6%

72.0%

e

56.3%

58.8%

86.7%

e

52.0%

70.0%

DOM med

21

38

a

29

22

56

a

33

52

DOM ave

39

52

l

60

71

73

l

59

59

# Closings

21

25

t

16

17

15

t

25

20

Updated #

23

25

y

16

tbd

tbd

y

25

20

Off-Market

Sep-01

Oct-01

.

Nov-01

Dec-01

Jan-02

.

Jan-01

Jan-00

DOM med

93

123

c

120

190

190

c

n/a

n/a

DOM ave

96

149

o

145

161

161

o

n/a

n/a

# Off

13

21

m

21

29

29

m

n/a

n/a

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Monterey County as of February 5, 2002

Available - data in this category is based on properties currently available for sale, status 1.
Days on the market (DOM) for listings currently available (status 1) is 103/133 (median/average), which is longer than the DOM for homes that entered escrow at 70/100, and is longer than transactions closing in October 69/92.

Inventory started the year with 400 on February 5, 2001 and grew reaching 1125 on August 25th. Inventory basically reached a plateau and then started the seasonal Fall drop-off. Inventory was 857 on February 5th.

Sales - data in this category is based on properties with an initiated sale (offer accepted) during the month.
The median List price is flat at $369,000. Although above the previous December’s price of $360,000 it is basically the same because of the lower SP/LP ratio in 2001. There appears to be significant fluctuating from month-to-month based on exactly which properties sell in a given month caused by the small size of MTY and wide range of property values

The DOM, which started the year flat, was clearly increasing but appears to have been leveling off prior to WTC. Immediately after WTC sales slowed significantly causing DOM to resume its climb. DOM appears to be leveling off a second time. DOM takes time to respond to changes in the market.

The number of sales during the month of December was down to 198. More significant look at the increase over December 2000 with only 153 sales or December 1999 at 188 sales.

Closings - data in this category is based on properties that closed escrow during the month.
The median Sold price reached $385K in July 1999 and has fluctuated between $275K and $380K since then. December 2001 median Sold price came in at $357,500. This indicates that there are simply not enough sales to prevent large monthly bounces. Examining other data, such as inventory and number of sales, can help you determine what the market is doing. 

More properties sold over the asking price in December compared to November. Even in 1999 and 2000 MTY did not see significant overbidding. There was also the slightest increase in the average SP/LP ratio.

Updated# is an adjusted number of reported closings during the specified month. These “missing” transactions are NOT included in the other data.

 

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Errors