Bay Area Real Estate Market Newsletter
 
Monterey County
October 2001
 

Section Va - October 2001 - Houses

AVAILABLE

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOI2,3

163.3

167.2

 

172.4

158.4

183.6

 

n/a

n/a

Inventory2

952

1046

 

1079

1100

1128

 

n/a

n/a

Sale/day2,3

5.83

6.26

 

6.26

6.94

6.14

R

n/a

n/a

DOM med2

57

62

C

69

74

77

I

n/a

n/a

DOM ave2

84

87

Y

96

99

103

C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

May-01

Jun-01

T

Jul-01

Aug-01

Sep-01

A

 Sep-00

Sep-99

SP 0% min1

$146,000

$162,000

H

$174,500

$80,000

tbd

R

$110,000

$110,000

SP 10%1

$239,500

$235,000

I

$245,000

$229,000

tbd

D

$208,600

$158,400

SP 50%med1

$350,000

$385,000

<`> A

$380,000

$343,500

tbd

C

$370,000

$320,000

SP 90%1

$902,000

$910,000

H

$1,140,000

$879,000

tbd

A

$954,000

$920,000

SP100%max1

$4,833,334

$5,400,000

A

$3,670,000

$4,000,000

tbd

L

$14,900,000

$5,625,000

LP med2

$364,500

$399,000

I

$382,000

$360,000

$349,500

H

$385,000

$312,250

SP/LP ave1

96.7%

96.0%

N

97.2%

96.7%

tbd

O

97.3%

97.5%

%SP>LP1

11.2%

6.3%

E

5.7%

4.8%

tbd

U

7.9%

12.4%

%SP<LP1

71.2%

79.9%

S

74.5%

79.0%

tbd

N

67.4%

68.2%

DOM med2

36

50

@

43

64

67

@

38

35

DOM ave2

56

65

C

62

83

82

C

54

64

# Sales2

200

193

R

198

247

175

R

243

252

% TFT1

13.0%

13.5%

E

11.1%

10.9%

tbd

E

10.7%

13.9%

 

 

 

E

 

 

 

E

 

 

CLOSINGS

May-01

Jun-01

K

Jul-01

Aug-01

Sep-01

K

Sep-00

Sep-99

SP 0% min2

$130,000

$145,000

S

$146,000

$160,000

$80,000

S

$90,000

$55,000

SP 10%2

$237,250

$234,720

I

$241,200

$240,000

$235,050

I

$182,600

$157,550

SP50% med2

$352,500

$340,000

D

$385,000

$350,000

$375,000

D

$325,500

$319,000

SP 90%2

$852,000

$900,000

E

$1,046,000

$864,000

$991,500

E

$896,000

$806,500

SP100%max2

$4,500,000

$5,600,000

R

$5,400,000

$4,500,000

$4,000,000

R

$7,800,000

$5,625,000

LP med2

$359,000

$349,000

E

$398,000

$366,400

$387,000

E

$325,000

$325,000

SP/LP ave2

97.2%

96.8%

A

96.3%

96.3%

96.6%

A

98.3%

98.0%

%SP>LP2

11.7%

11.7%

L

9.6%

6.2%

6.3%

L

12.9%

17.0%

%SP<LP2

64.9%

67.0%

T

74.2%

77.1%

77.1%

T

57.3%

62.3%

DOM med2

28

31

Y

47

47

69.5

Y

34

24

DOM ave2

62

52

.

64

63

86

.

51

66

#Closings2

154

196

C

151

210

144

C

250

207

Updated#1

156

200

O

153

212

tbd

O

255

212

 

 

 

M

 

 

 

M

 

 

OFFMARKET

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOM med2

 

 

 

 

 

 

 

 

 

DOM ave2

 

 

 

 

 

 

 

 

 

#Off mark2

 

 

 

 

 

 

 

 

 

 

1) Data related to sold price is re-compiled early during the current month to incorporate recent closings without delaying the BAREMN.

2) Data is compiled on the 5th day of following month to agree with MLS policy.

3) DOI & Sales per day calculations use recent sales activity.

4) The data is still subject to change as these sales continue to close and the sold prices are reported.

Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed.

Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm.

Section Vb - October 2001 - Condos

AVAILABLE

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOI2,3

82.6

123.6

 

111

128.7

165.6

 

n/a

n/a

Inventory2

85

113

 

111

114

123

 

n/a

n/a

Sale/day2,3

1.03

0.91

 

1.00

0.89

0.74

R

n/a

n/a

DOM med2

43

43

C

53

68

66

I

n/a

n/a

DOM ave2

65

60

Y

73

83

87

C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

May-01

Jun-01

T

Jul-01

Aug-01

Sep-01

A

Sep-00

Sep-99

SP 0% min1

$120,900

$125,000

H

$137,000

$138,000

tbd

R

$117,000

$87,500

SP 10%1

$162,600

$157,000

I

$160,000

$153,000

tbd

D

$147,000

$89,940

SP 50%med1

$267,500

$257,500

A

$265,000

$208,000

tbd

C

$282,500

$173,500

SP 90%1

$510,000

$654,500

H

$617,000

$334,000

tbd

A

$491,000

$393,000

SP100%max1

$1,083,500

$1,323,000

A

$1,345,000

$537,000

tbd

L

$1,400,000

$700,000

LP med2

$264,750

$259,900

I

$262,250

$209,500

$229,750

H

$284,500

$153,200

SP/LP ave1

97.0%

98.0%

N

97.5%

97.8%

tbd

O

99.1%

99.1%

%SP>LP1

9.1%

15.0%

E

3.6%

15.4%

tbd

U

24.0%

20.0%

%SP<LP1

75.8%

50.0%

S

75.0%

38.5%

tbd

N

44.0%

44.0%

DOM med2

31

15

@

17

55

38

@

15

27

DOM ave2

53

56

C

36

56

48

C

42

76

# Sales2

36

23

R

32

29

24

R

28

30

% TFT1

8.3%

4.3%

E

3.1%

24.1%

tbd

E

10.7%

16.7%

 

 

 

E

 

 

 

E

 

 

CLOSINGS

May-01

Jun-01

K

Jul-01

Aug-01

Sep-01

K

Sep-00

Sep-99

SP 0% min2

$120,000

$120,900

S

$125,000

$160,000

$139,000

S

$84,000

$84,000

SP 10%2

$155,000

$169,000

I

$159,750

$176,500

$180,000

I

$110,000

$91,500

SP50% med2

$225,000

$255,250

D

$263,750

$275,000

$229,000

D

$196,000

$179,750

SP 90%2

$534,000

$624,000

E

$576,250

$484,500

$615,000

E

$595,000

$422,900

SP100%max2

$849,000

$1,083,500

R

$680,000

$685,000

$1,350,000

R

$1,400,000

$589,500

LP med2

$227,500

$262,200

E

$272,000

$283,200

$230,000

E

$199,000

$213,000

SP/LP ave2

98.6%

96.7%

A

98.4%

97.3%

98.4%

A

98.3%

98.7%

%SP>LP2

20.0%

3.6%

L

15.4%

8.3%

9.5%

L

14.3%

25.0%

%SP<LP2

48.0%

78.6%

T

50.0%

70.8%

47.6%

T

57.1%

53.1%

DOM med2

19

24

Y

36

24

21

Y

43

9

DOM ave2

28

62

.

51

40

39

.

62

35

#Closings2

25

28

C

26

24

21

C

21

30

Updated#1

25

29

O

26

25

tbd

O

21

32

 

 

 

M

 

 

 

M

 

 

OFFMARKET

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOM med2

 

 

 

 

 

 

 

 

 

DOM ave2

 

 

 

 

 

 

 

 

 

#Off mark2

 

 

 

 

 

 

 

 

 

 

1) Data related to sold price is re-compiled early during the current month to incorporate recent closings without delaying the BAREMN.

2) Data is compiled on the 5th day of following month to agree with MLS policy.

3) DOI & Sales per day calculations use recent sales activity.

4) The data is still subject to change as these sales continue to close and the sold prices are reported.

Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed.

Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm.

 

Section Vc

Available - data in this category is based on properties currently available for sale, status 1.
DOI that had been increasing in recent months; 108 in March, 132 in April, 163 in May, 167 in June, 172 in July, decreased to 158.4 in August, but increased to 184 in September. As of October 5th overall DOI was 184 for homes under $500K was 122; the $500K to $1.M range was 246 and over $1M was 942. Home sales in the $5+ Million price range are dead. 20 homes on the market and zero sales yields a DOI of infinite.

Inventory grew reaching 1100. Inventory appeared to be reaching a plateau and is ready to start the seasonal Fall drop-off. However, it has remained level at 1128 in the wake of WTC. Similar to Santa Cruz and San Mateo Counties, inventory is at two-thirds of the peak inventory levels of approximately 1600 reached in mid-1995.

The number of sales per day continued to increase since May reaching 6.9 sales per day in August. Sales per day dropped to 6.1 in September. Now significantly below February's level of 7.3

Days on the market (DOM) for listings currently available (status 1) is 77/103 (median/average), which is longer than the DOM for homes that entered escrow at 67/82, but is shorter than transactions closing in July 70/86. This is another indication that the market was leveling off prior to WTC.

DOI (183) is greater than average DOM (103).

Sales - data in this category is based on properties with an initiated sale (offer accepted) during the month.
The median list price dropped to $349,599 the lowest since March 2001 and $35,000 lower than September 2000.There appears to be significant fluctuating from month-to-month based on exactly which properties sell in a given month. With increasing DOM don't expect good news.

The DOM, which started the year flat, has clearly increased for the last several months.

The number of sales during the month of August was 247, a nice increase over the last several months.

Percent of transactions fallen through ( %TFT) increased slightly from 1999 and 2000 to 2001. Although slightly higher the %TFT increase is not as pronounced as it is for Santa Clara County.

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. September 2001 median Sold price came in at $375,000. This indicates that there are simply not enough sales to prevent large monthly bounces. Examining other data, such as DOI, inventory and number of sales, can help you determine which way the market is going.

Only about 6% of the properties have been selling over the asking price, the trend of fewer homes selling over their asking price and more homes selling below the asking price continues.

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

Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm.

Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed.


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