Bay Area Real Estate Market Newsletter
 
Monterey County
September 2001
 
Please note: The monthly Bay Area Real Estate Market Newsletter is available via e-mail. Just send an e-mail to Subscription@CreeksideRealty.com and you will be added to the distribution list.
 

Section Va/b - Monterey County

*Houses*

AVAILABLE

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

Aug-99

DOI2,3

132.6

163.3

 

167.2

172.4

158.4

 

n/a

n/a

Inventory2

826

952

 

1046

1079

1100

 

n/a

n/a

Sale/day2,3

6.23

5.83

 

6.26

6.26

6.94

R

n/a

n/a

DOM med2

46

57

C

62

69

74

I

n/a

n/a

DOM ave2

74

84

Y

87

96

99



C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

Apr-01

May-01

T

Jun-01

Jul-01

Aug-01

A

Aug-00

Aug-99

SP 0% min1

$150,000

$146,000

H

$162,000

$174,500

tbd

R

$90,000

$55,000

SP 10%1

$240,000

$239,980

I

$239,100

$245,000

tbd

D

$190,750

$162,100

SP 50%med1

$360,000

$350,000

A

$365,000

$371,000

tbd

C

$330,000

$327,000

SP 90%1

$980,000

$904,000

H

$900,000

$938,500

tbd

A

$1,035,000

$874,000

SP100%max1

$5,600,000

$4,833,334

A

$5,400,000

$3,200,000

tbd

L

$5,500,000

$4,400,000

LP med2

$369,475

$364,500

I

$399,000

$382,000

$360,000

H

$345,500

$337,000

SP/LP ave1

96.7%

96.7%

N

96.4%

97.1%

tbd

O

98.4%

97.4%

%SP>LP1

10.7%

11.2%

E

6.6%

7.6%

tbd

U

13.8%

12.6%

%SP<LP1

67.9%

71.6%

S

79.6%

70.3%

tbd

N

53.9%

66.7%

DOM med2

30

36

@

50

43

64

@

33

31

DOM ave2

63

56

C

65

62

83

C

56

73

# Sales2

198

200

R

193

198

247

R

280

240

% TFT1

18.7%

12.5%

E

12.4%

10.1%

tbd

E

9.3%

7.5%

 

 

 

E

 

 

 

E

 

 

CLOSINGS

Apr-01

May-01

K

Jun-01

Jul-01

Aug-01

K

Aug-00

Aug-99

SP 0% min2

$129,900

$130,000

S

$145,000

$146,000

$160,000

S

$75,000

$80,000

SP 10%2

$240,000

$237,250

I

$234,720

$241,200

$240,000

I

$177,425

$149,950

SP50% med2

$339,500

$352,500

D

$340,000

$385,000

$350,000

D

$310,500

$288,000

SP 90%2

$799,500

$852,000

E

$900,000

$1,046,000

$864,000

E

$817,500

$738,500

SP100%max2

$4,000,000

$4,500,000

R

$5,600,000

$5,400,000

$4,500,000

R

$5,500,000

$2,900,000

LP med2

$344,900

$359,000

E

$349,000

$398,000

$366,400

E

$316,000

$293,975

SP/LP ave2

97.8%

97.2%

A

96.8%

96.3%

96.3%

A

98.9%

97.3%

%SP>LP2

12.9%

11.7%

L

11.7%

9.6%

6.2%

L

239.8%

13.3%

%SP<LP2

57.9%

64.9%

T

67.0%

74.2%

77.1%

T

47.3%

64.2%

DOM med2

30

28

Y

31

47

47

Y

24

32

DOM ave2

48

62

.

52

64

63

.

41

75

#Closings2

178

154

C

196

151

210

C

254

219

Updated#1

178

156

O

200

154

tbd

O

256

226

 

 

 

M

 

 

 

M

 

 

OFFMARKET

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

Aug-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.

*Condos*

AVAILABLE

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

Aug-99

DOI2,3

94.5

82.6

 

123.6

111

128.7

 

n/a

n/a

Inventory2

81

85

 

113

111

114

 

n/a

n/a

Sale/day2,3

0.86

1.03

 

0.91

1.00

0.89

R

n/a

n/a

DOM med2

38

43

C

43

53

68

I

n/a

n/a

DOM ave2

58

65

Y

60

73

83

C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

Apr-01

May-01

T

Jun-01

Jul-01

Aug-01

A

Aug-00

Aug-99

SP 0% min1

$120,000

$120,900

H

$125,000

$160,000

tbd

R

$61,891

$68,500

SP 10%1

$152,500

$165,500

I

$166,750

$178,000

tbd

D

$103,700

$82,900

SP 50%med1

$263,500

$271,250

A

$257,500

$242,555

tbd

C

$200,000

$217,500

SP 90%1

$567,200

$510,000

H

$610,500

$460,200

tbd

A

$500,000

$525,000

SP100%max1

$895,000

$1,083,500

A

$680,000

$685,000

tbd

L

$2,000,000

$589,500

LP med2

$240,000

$264,750

I

$259,900

$262,250

$209,500

H

$200,000

$201,900

SP/LP ave1

99.0%

96.9%

N

98.0%

97.6%

tbd

O

98.5%

98.6%

%SP>LP1

17.4%

6.3%

E

15.0%

5.9%

tbd

U

9.1%

20.4%

%SP<LP1

43.5%

78.1%

S

50.0%

70.6%

tbd

N

45.5%

51.7%

DOM med2

14

31

@

15

17

55

@

17

11

DOM ave2

31

53

C

56

36

56

C

34

31

# Sales2

25

36

R

23

32

29

R

23

33

% TFT1

8.0%

8.3%

E

4.3%

3.1%

tbd

E

4.3%

12.1%

 

 

 

E

 

 

 

E

 

 

CLOSINGS

Apr-01

May-01

K

Jun-01

Jul-01

Aug-01

K

Aug-00

Aug-99

SP 0% min2

$120,000

$120,000

S

$120,900

$125,000

$160,000

S

$95,000

$87,500

SP 10%2

$133,500

$155,000

I

$169,000

$159,750

$176,500

I

$121,600

$98,800

SP50% med2

$272,500

$225,000

D

$255,250

$263,750

$275,000

D

$295,000

$172,500

SP 90%2

$795,000

$534,000

E

$624,000

$576,250

$484,500

E

$703,100

$387,800

SP100%max2

$2,800,000

$849,000

R

$1,083,500

$680,000

$685,000

R

$3,500,000

$1,500,000

LP med2

$272,500

$227,500

E

$262,200

$272,000

$283,200

E

$299,000

$180,000

SP/LP ave2

98.4%

98.6%

A

96.7%

98.4%

97.3%

A

99.1%

98.3%

%SP>LP2

12.5%

20.0%

L

3.6%

15.4%

8.3%

L

16.7%

12.1%

%SP<LP2

43.8%

48.0%

T

78.6%

50.0%

70.8%

T

43.3%

60.6%

DOM med2

28

19

Y

24

36

24

Y

11

21

DOM ave2

43

28

.

62

51

40

.

18

57

#Closings2

16

25

C

28

26

24

C

30

32

Updated#1

16

25

O

29

26

tbd

O

30

33

 

 

 

M

 

 

 

M

 

 

OFFMARKET

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

Aug-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) - Monterey County (MTY)

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 and 172 in July finally decreased to 158.4. It appears that DOI is about ready to level off. As of September 5th overall DOI was 158 for homes under $500K was 119; the $500K to $1.M range was 173 and over $1M was 433. Home sales in the $5+ Million price range are dead. 21 homes on the market and zero sales yields a DOI of infinite.

Although inventory continues to grow reaching 1100, it appears to be reaching a plateau and is ready to start the seasonal Fall drop-off. 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 continues its increase since May reaching 6.9 sales per day in August. Still below February's level of 7.3

Days on the market (DOM) for listings currently available (status 1) is 74/99 (median/average), which is longer than the DOM for homes that entered escrow at 64/83, which is longer than transactions closing in July 47/63.

DOI (158) is greater than average DOM (99).

Sales - data in this category is based on properties with an initiated sale (offer accepted) during the month.
The median list price appears to be fluctuating from month-to-month based on exactly which properties sell in a given month. There is so much monthly fluctuation it is impossible to clearly observe trends. However, 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. 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.

Even though about 10% 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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