Clients, especially Sellers, are fascinated by how supply and demand ebbs and flows by month and season, as in, "when is the best time to put my home on the market?"
Additionally, we receive questions about "when is the best to to buy?"
Interestingly, these times overlap as Buyers are able to negotiate the lowest sales-to-list price ratio - AND - Sellers have the least amount of competition for their homes during the winter months.
To share more about this, we've included trend charts over the past several years in addition to an update on sales in December of 2019.
We're wrapping up our annual report now and we look forward to sharing that with you soon.
Monterey County Market Update December 2019
Not only can the median give you a good idea of the general price of real estate in a certain area, it also can give you a feeling for how an area has been performing over recent months, years, or decades. Buyers and sellers can use median sales price as an indicator of market trends, consumer sentiment, price estimation, and market conditions.
Information taken from the Trendgraphix® as of December 2019. All information should be independently reviewed and verified for accuracy. Properties represent a compilation of listings from various brokerage firms and may or may not have been listed or sold by the office or agent presenting this information.
For buyers, looking at sale-to-list percentages can help them get a sense of how to negotiate on pricing. For sellers, sale-to-list percentages can help them set the right price for the property. A ratio above 100 percent indicates that a home sold for more than its list price. This might happen during a “hot market” where the seller receives multiple offers on a home. Conversely, a ratio less than 100 percent shows that a home sold for less than its list price.
The number of sold units represents market conditions through the total properties sold during a given period; in hot economic situations these numbers can peak and during a market crash they can drop significantly.
Information taken from the Trendgraphix® as of December 2019. All information should be independently reviewed and verified for accuracy. Properties represent a compilation of listings from various brokerage firms and may or may not have been listed or sold by the office or agent presenting this information.
Based on inventory (the number of homes for sale), the market can lean towards a seller’s or buyer’s market. A seller’s market occurs when demand (the number of buyers seeking to purchase homes) exceeds supply (available homes for sale). A buyer’s market occurs when the supply exceeds demand. Buyer’s have strong negotiating power during a buyer's market, and conversely, seller’s have flexible pricing options in a seller’s market.
Information taken from the Trendgraphix® as of December 2019. All information should be independently reviewed and verified for accuracy. Properties represent a compilation of listings from various brokerage firms and may or may not have been listed or sold by the office or agent presenting this information.
A low number of days on market indicates that buyers are in a hot market. This means they should be ready to pull the trigger when the right property surfaces. Additionally, sellers know that they can be more aggressive with their pricing because buyers are purchasing properties quickly.
When days on market in an area is high, buyers may start questioning the pricing or value of a property, wanting to negotiate more because they see that homes in the area are taking much longer to sell. Sellers should be careful with pricing in an area where days on market is high; the listing price should be close to the fair market value to maximize the experience and profit.
Information taken from the Trendgraphix® as of December 2019. All information should be independently reviewed and verified for accuracy. Properties represent a compilation of listings from various brokerage firms and may or may not have been listed or sold by the office or agent presenting this information.
