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Sales of single-family, re-sale homes in Monterey County were up 170.9% in November compared to last year. Month-over-month, sales fell 23.6%. Sales continue to be concentrated in the lower-priced cities such as North Salinas where year-over-year sales were up 590%, and South County where sales were up 375%.

Home prices continue to be affected by the bank-owned property that has flooded the market.

The median price fell 3.5% from October, and was off 53.4% year-over-year.

Inventory rose 9.8% from October, but was down 22.3% compared to November 2007.

The monthly decrease in sales combined with the rise in inventory pushed our Days of Inventory indicator up 69 days to 229 days.

The sales price to list price ratio increased 0.7 of a point to 98.4%.

Condo sales fell 17.2% from October, but were up 200% year-over-year.

The median price for condos lost 36% month-over-month, and was off 76.1% compared to last November.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, please call us.

Monthly Market Trends Newsletter

Current Home Sales, City by City

Having said all of this, it is incumbent upon you, as the owner of a property that is going to be for sale, to determine what your time lines are and how to best achieve them. As your Real Estate Professional, I strongly recommend that the best policy over the years , has been to put your property on the market at a realistic price. Some of this is determined by the condition of your property, or just as importantly, by how it shows. How would potential buyers feel the first time they came into your home? Does it smell clean and inviting? Is it neat and organized? Imagine how you feel when you walk into a home that is “just perfect” in your eyes. When a buyer feels “comfortable” in a home that is for sale, it makes them much, much more likely to be motivated to make an offer than they would be if there were just too many things that didn’t “feel right” to them. Also, the offers made under these circumstances are more often than not, better offers. They are being made by people that are motivated by the fact that this property appeals to them more than the others that they have looked at. So if nothing else happens, make sure that you make your property as appealing as it can be. As your Realtor, we can not change your home, we can only do everything we know to market it and bring as many buyers as possible to it.

If you would like to find out more about our background in real estate, please contact us now at

(831) 772-9597.

Sincerely,

The Team @
Affinity Properties-The Phinney Group.