All data within this document is pulled from the Monterey Peninsula MLS. Areas include the Monterey Peninsula. Monterey Peninsula Market Update First Quarter 2014 MONTEREY PENINSULA BROKERAGES Carmel Rancho Brokerage | t. 831.624.1566 Carmel Valley Brokerage | t. 831.659.2267 Carmel-By-The-Sea Brokerage | t. 831.624.1566 Pacific Grove Brokerage | t. 831.372.7700 sothebyshomes.com Carmel Highlands | web: 0473719 Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.
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All data within this document is pulled from the Monterey Peninsula MLS. Areas include the Monterey Peninsula.
Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.
I am pleased to provide a summary of sales activity in the Monterey Peninsula real estate market during the first quarter of 2014. MLSListings.com reports the following quarter over quarter statistics:
The number of units sold on the Peninsula was down by 17 percent, but the increase in sales price was significant in many of our communities. The average sales price overall for Peninsula communities was up 40 percent.
Of note was an increase in the average sales price of 84 percent in Pebble Beach driven by an increase in luxury home sales. The one sale closed in Big Sur sold for nearly 100 percent more than the average sales price in 2013. Also noteworthy, Carmel Valley saw a 39 percent increase in average sales price.
These positive trends bode well for home sellers in our market. If you are thinking of selling your home this is an incredible market to take advantage of as many of our sellers during this time period enjoyed multiple offers from buyers, which for many, escalated the sales price well above the original asking price.
PACIFIC GROVE | Web ID: 1210033 | $2,750,000Amber Russell 831.402.1982
PACIFIC GROVE | Web ID: 1210040 | $1,250,000Annette Boggs 831.601.5800
MONTEREY/SALINAS HIGHWAY | Web ID: 0473731 | $2,795,000Mike Jashinski 831.236.8913