Bay Area Real Estate
Market
Newsletter
|
|
Monterey
County Houses - as of November 5, 2001 - Section Va
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AVAILABLE |
Jun-01 |
Jul-01 |
|
Aug-01 |
Sep-01 |
Oct-01 |
|
Oct-00 |
Oct-99 |
DOI2,3 |
167.2 |
172.4 |
|
158.4 |
183.6 |
155.0 |
R
|
n/a |
n/a |
Inventory2 |
1046 |
1079 |
C
|
1100 |
1128 |
1063 |
I
|
n/a |
n/a |
Sale/day2,3 |
6.26 |
6.26 |
Y
|
6.94 |
6.14 |
6.9 |
C
|
n/a |
n/a |
DOM med2 |
62 |
69 |
N
|
74 |
77 |
84 |
H
|
n/a |
n/a |
DOM ave2 |
87 |
96 |
T |
99 |
103 |
112 |
A |
n/a |
n/a |
|
|
|
H
|
|
|
|
R
|
|
|
SALES4 |
Jun-01 |
Jul-01 |
I
|
Aug-01 |
Sep-01 |
Oct-01 |
D
|
Oct-00 |
Oct-99 |
SP 10%1 |
$236,000 |
$245,000 |
A
|
$229,720 |
$231,500 |
tbd |
C
|
$215,770 |
$165,000 |
SP 50%med1 |
$367,500 |
$380,000 |
H
|
$342,000 |
$330,000 |
tbd |
A
|
$354,950 |
$310,000 |
SP 90%1 |
$912,500 |
$1,142,500 |
A
|
$875,800 |
$715,000 |
tbd |
L
|
$1,036,000 |
$865,000 |
LP med2 |
$399,000 |
$382,000 |
I
|
$360,000 |
$349,500 |
$365,000 |
H
|
$360,750 |
$325,000 |
SP/LP ave1 |
96.0% |
97.3% |
N
|
96.8% |
96.0% |
tbd |
O
|
97.9% |
97.3% |
%SP>LP1 |
21.1% |
6.3% |
E
|
6.6% |
5.7% |
tbd |
U
|
13.6% |
12.6% |
%SP<LP1 |
79.5% |
75.6% |
S
|
78.6% |
86.7% |
tbd |
N
|
60.5% |
66.5% |
DOM med2 |
50 |
43 |
@
|
64 |
67 |
65 |
@
|
33 |
45 |
DOM ave2 |
65 |
62 |
C
|
83 |
82 |
89 |
C
|
54 |
76 |
# Sales2 |
193 |
198 |
R
|
247 |
175 |
225 |
R
|
246 |
244 |
% TFT1 |
14.0% |
11.1% |
E |
15.4% |
5.1% |
tbd |
E |
7.3% |
11.1% |
|
|
|
E
|
|
|
|
E
|
|
|
CLOSINGS |
Jun-01 |
Jul-01 |
K
|
Aug-01 |
Sep-01 |
Oct-01 |
K
|
Oct-00 |
Oct-99 |
SP 10%2 |
$234,720 |
$241,200 |
S
|
$240,000 |
$235,050 |
$239,450 |
S
|
$196,800 |
$161,000 |
SP50% med2 |
$340,000 |
$385,000 |
I
|
$350,000 |
$375,000 |
$350,500 |
I
|
$385,000 |
$329,000 |
SP 90%2 |
$900,000 |
$1,046,000 |
D
|
$864,000 |
$991,500 |
$835,000 |
D
|
$1,410,000 |
$975,000 |
LP med2 |
$349,000 |
$398,000 |
E
|
$366,400 |
$387,000 |
$369,450 |
E
|
$398,500 |
$357,000 |
SP/LP ave2 |
96.8% |
96.3% |
R
|
96.3% |
96.6% |
96.7% |
R
|
97.7% |
97.4% |
%SP>LP2 |
11.7% |
9.6% |
E
|
6.2% |
6.3% |
8.5% |
E
|
12.6% |
13.5% |
%SP<LP2 |
67.0% |
74.2% |
A
|
77.1% |
77.1% |
81.8% |
A
|
62.3% |
66.7% |
DOM med2 |
31 |
47 |
L
|
47 |
70 |
50 |
L
|
33 |
36 |
DOM ave2 |
52 |
64 |
T
|
63 |
86 |
76 |
T
|
60 |
67 |
#Closings2 |
196 |
151 |
Y
|
210 |
144 |
176 |
Y
|
204 |
219 |
Updated#1 |
201 |
156 |
.
|
214 |
160 |
tbd |
.
|
207 |
222 |
|
|
|
C
|
|
|
|
C
|
|
|
OFFMARKET |
Jun-01 |
Jul-01 |
O
|
Aug-01 |
Sep-01 |
Oct-01 |
O
|
Oct-00 |
Oct-99 |
DOM med2 |
79 |
108 |
M
|
106 |
134 |
125 |
M
|
|
|
DOM ave2 |
99 |
134 |
|
152 |
147 |
150 |
|
|
|
#Off mark2 |
78 |
99 |
|
98 |
99 |
157 |
|
|
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Bay Area Real Estate Market
Newsletter
|
|
Monterey County Townhouses/Condos - as
of November 5, 2001 - Section Vb
|
AVAILABLE |
Jun-01 |
Jul-01 |
|
Aug-01 |
Sep-01 |
Oct-01 |
|
Oct-00 |
Oct-99 |
DOI2,3 |
123.6 |
111 |
|
128.7 |
165.6 |
167.2 |
R
|
n/a |
n/a |
Inventory2 |
113 |
111 |
C
|
114 |
123 |
129 |
I
|
n/a |
n/a |
Sale/day2,3 |
0.91 |
1.00 |
Y
|
0.89 |
0.74 |
0.77 |
C
|
n/a |
n/a |
DOM med2 |
43 |
53 |
N
|
68 |
66 |
76 |
H
|
n/a |
n/a |
DOM ave2 |
60 |
73 |
T |
83 |
87 |
94 |
A |
n/a |
n/a |
|
|
|
H
|
|
|
|
R
|
|
|
SALES4 |
Jun-01 |
Jul-01 |
I
|
Aug-01 |
Sep-01 |
Oct-01 |
D
|
Oct-00 |
Oct-99 |
SP 10%1 |
$156,750 |
$160,000 |
A
|
$160,979 |
$169,014 |
tbd |
C
|
$136,200 |
$75,600 |
SP 50%med1 |
$257,500 |
$265,000 |
H
|
$208,000 |
$227,500 |
tbd |
A
|
$238,000 |
$212,500 |
SP 90%1 |
$654,500 |
$617,500 |
A
|
$326,900 |
$445,000 |
tbd |
L
|
$560,000 |
$405,800 |
LP med2 |
$259,900 |
$262,250 |
I
|
$209,500 |
$229,750 |
$245,000 |
H
|
$227,750 |
$204,500 |
SP/LP ave1 |
98.0% |
97.5% |
N
|
97.6% |
96.5% |
tbd |
O
|
98.0% |
98.2% |
%SP>LP1 |
14.3% |
3.3% |
E
|
11.8% |
5.3% |
tbd |
U
|
8.3% |
20.6% |
%SP<LP1 |
52.4% |
73.3% |
S
|
52.9% |
68.4% |
tbd |
N
|
50.0% |
64.7% |
DOM med2 |
15 |
17 |
@
|
55 |
38 |
30 |
@
|
15 |
35 |
DOM ave2 |
56 |
36 |
C
|
56 |
48 |
62 |
C
|
27 |
50 |
# Sales2 |
23 |
32 |
R
|
29 |
24 |
29 |
R
|
28 |
37 |
% TFT1 |
4.3% |
3.1% |
E |
31.0% |
4.2% |
tbd |
E |
14.3% |
8.1% |
|
|
|
E
|
|
|
|
E
|
|
|
CLOSINGS |
Jun-01 |
Jul-01 |
K
|
Aug-01 |
Sep-01 |
Oct-01 |
K
|
Oct-00 |
Oct-99 |
SP 10%2 |
$169,000 |
$159,750 |
S
|
$176,500 |
$180,000 |
$157,800 |
S
|
$152,250 |
$78,200 |
SP50% med2 |
$255,250 |
$263,750 |
I
|
$275,000 |
$229,000 |
$227,500 |
I
|
$280,000 |
$150,000 |
SP 90%2 |
$624,000 |
$576,250 |
D
|
$484,500 |
$615,000 |
$432,200 |
D
|
$490,000 |
$525,400 |
LP med2 |
$262,200 |
$272,000 |
E
|
$283,200 |
$230,000 |
$234,500 |
E
|
$268,500 |
$151,500 |
SP/LP ave2 |
96.7% |
98.4% |
R
|
97.3% |
98.4% |
96.4% |
R
|
99.2% |
98.7% |
%SP>LP2 |
3.6% |
15.4% |
E
|
8.3% |
9.5% |
4.0% |
E
|
15.4% |
13.8% |
%SP<LP2 |
78.6% |
50.0% |
A
|
70.8% |
47.6% |
72.0% |
A
|
53.8% |
51.7% |
DOM med2 |
24 |
36 |
L
|
24 |
21 |
38 |
L
|
15 |
21 |
DOM ave2 |
62 |
51 |
T
|
40 |
39 |
52 |
T
|
34 |
52 |
#Closings2 |
28 |
26 |
Y
|
24 |
21 |
25 |
Y
|
23 |
29 |
Updated#1 |
29 |
27 |
.
|
25 |
24 |
tbd |
.
|
26 |
|
|
|
|
C
|
|
|
|
C
|
|
|
OFFMARKET |
Jun-01 |
Jul-01 |
O
|
Aug-01 |
Sep-01 |
Oct-01 |
O
|
Oct-00 |
Oct-99 |
DOM med2 |
78 |
75 |
M
|
149 |
93 |
123 |
M
|
|
|
DOM ave2 |
78 |
74 |
|
123 |
96 |
149 |
|
|
|
#Off mark2 |
2 |
7 |
|
10 |
13 |
21 |
|
|
|
|
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|
Bay Area Real Estate
Market
Newsletter
|
|
Monterey County Real
Estate Market - as
of November 5, 2001 - Section Vc |
Available - data in this category is based on properties
currently available for sale, status 1.
|
|
DOI increased earlier
in the year; 108 in March, 132 in April, 163 in May, 167 in June, 172 in July, actually
dipped to 158.4 in August, but increased to 184 in September because of WTC has improved
to 155 for October. As of November 5th overall DOI was 155 for homes under $500K was 110;
the $500K to $1.M range was 218 and over $1M was 350. Home sales in the $5+ Million price
range are dead.19 homes on the market and only 1 sale yields a DOI of 665.
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. But on
November 5th inventory dropped to 1063. 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. Sales per day rebounded to 6.9 for October.
Days on the market
(DOM) for listings currently available (status 1) is 84/112 (median/average), which is
longer than the DOM for homes that entered escrow at 65/89, but is longer than
transactions closing in October 50/76.
DOI (155) is greater
than average DOM (112).
Sales - data in this category is based on properties with an
initiated sale (offer accepted) during the month.
The median list price
increased to $365,000 basically the same as October 2000 at $360,750. There appears to be
significant fluctuating from month-to-month based on exactly which properties sell in a
given month. Don’t expect good news when DOI>DOM.
The DOM, which started
the year flat, was clearly increasing but appears to have leveled off prior to WTC.
Immediately after WTC sales slowed significantly causing DOI to climb. This has now
reversed and is back to the level prior to WTC.
The number of sales
during the month of October was 225, a nice recovery after WTC.
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. October
2001 median Sold price came in at $350,500. 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.
Less than 10% of the
properties have been selling over the asking price. In 1999 and 2000 MTY did not see
significant overbidding.
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.
|
Table footnotes &
disclaimers
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.
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