Monterey Market Report

MARKET UPDATE | Q2 2013
MONTEREY PENINSULA
SIX YEARS OF AVERAGE SELLING PRICES | Q2 | MONTEREY PENINSULA*
$2,000,000 $1,500,000 $1,000,000 $500,000

A MESSAGE FROM: Nicole Truszkowski
I am pleased to report that MLS data from the second quarter of this year illustrated a continuation of the positive trends the Monterey Peninsula residential real estate market experienced in Q1. In the second quarter of 2013, the average sales price increased 13% over the same quarter in 2012. Sales of single family homes rose from 283 to 295.The average list price to sales price discount for all price ranges improved with sales prices reaching 96% of the asking price in the second quarter. The most improved market segment was in the Monterey Salinas Highway corridor, which saw a 28% increase in the units sold, going from 47 properties sold in the second quarter of 2012 to 60 in the second quarter of 2013. Pebble Beach saw a very significant increase of 65% in average sales price, going from $1,572,779 to $2,589,243.
$2008 2009 2010 2011 2012 2013 Average Selling Price
MONTEREY PENINSULA*
ABOUT THE AREA
Located on the central California coast, the beautiful Monterey Peninsula offers great living in some of the most desirable areas, including: Big Sur, Carmel, Carmel Highlands, Carmel Valley, Monterey, Pacific Grove, Pebble Beach and Monterey/Salinas Highway. AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$1,400,000 $1,200,000 $1,000,000 $800,000 350 300 250 200 150 100 50 0 2009 2010 2011 2012 Units Sold 2013 Average Selling Price
MONTEREY PENINSULA BROKERAGES

CARMEL RANCHO BROKERAGE 200 Clocktower Place | 831.624.1566 CARMEL BY-THE-SEA BROKERAGE Ocean Avenue | 831.624.9700 CARMEL VALLEY BROKERAGE 312 W. Carmel Valley Road | 831.659.2267 sothebyshomes.com/monterey NICOLE TRUSZKOWSKI 831.238.7449 | nicole.truszkowski@sothebyshomes.com
* In this Update, data is for single-family homes.The Monterey Peninsula is defined as the eight areas included in this report. All data within this document is pulled from MLSListings, Inc.
$600,000 $400,000 $200,000 $-
SINGLE FAMILY HOMES | Q2 Units Sold Average Selling Price Average Listing Price Discount Ratio Median Average Days on Market
2009 151 $928,351 $1,036,305 90% $715,000 147
2010 244 $1,147,026 $1,284,046 89% $725,000 130
2011 230 $965,655 $1,038,436 93% $681,000 157
2012 283 $934,406 $995,839 94% $690,000 126
2013 295 $1,060,157 $1,109,821 96% $713,000 97
BIG SUR
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$1,400,000 $1,200,000 $1,000,000 $800,000 3.5 3 2.5 2 1.5 1 0.5 0 2009 2010 2011 2012 Units Sold 2013 Average Selling Price
ABOUT THE AREA

South of Carmel lies Big Sur, nearly 100 miles of pristine, rugged coastline, where the Santa Lucia Mountains rise precipitously from the Pacific Ocean, creating some of the most spectacular views and iconic imagery in America. Big Sur is best known for its natural untouched beauty.
$600,000 $400,000 $200,000 $-
2009 0 $$n/a $-
2010 1 $415,000 $415,000 100% $415,000 420
2011 2 $285,000 $284,950 100% $285,000 128
2012 3 $1,158,500 $1,348,333 86% $1,325,500 152
2013 3 $901,333 $1,063,300 85% $900,000 242
CARMEL
$2,000,000 $1,500,000 80 70 60 50 40 30 20 10 0 2009 2010 2011 2012 Units Sold 2013 Average Selling Price
ABOUT THE AREA

Carmel was founded as an enclave for artists around the turn of the century and remains true to its bohemian roots today. With its idyllic location, its pristine beaches and a village with first-rate dining, shopping and charming inns, Carmel is a haven for visitors and locals alike.
$1,000,000 $500,000 $-
2009 21 $1,393,500 $1,527,262 91% $1,395,000 139
2010 40 $1,474,244 $1,612,808 91% $1,256,250 147
2011 50 $1,477,128 $1,596,058 93% $1,160,000 160
2012 70 $1,256,135 $1,365,786 92% $1,050,500 149
2013 74 $1,568,770 $1,653,808 95% $1,242,500 118
SERVING THE MONTEREY PENINSULA
CARMEL HIGHLANDS
$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $2009 2010 2011 2012 Units Sold 2013 Average Selling Price 5 4 3 2 1 0
ABOUT THE AREA

A few short miles south of Carmel, along the winding Pacific Coast Highway, are the Carmel Highlands. Homes in the Highlands sit above the sea, and from their sheltered perch, many have enviable views of the dramatic and ever-changing coastline.
2009 3 $1,890,000 $2,446,666 77% $1,025,000 174
2010 3 $2,280,000 $2,731,667 83% $1,600,000 92
2011 3 $1,441,667 $1,616,000 89% $1,475,000 326
2012 2 $2,672,500 $2,885,000 93% $2,672,500 285
2013 0 $$n/a $-
CARMEL VALLEY
$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2009 2010 2011 2012 Units Sold 2013 Average Selling Price 50 40 30 20 10 0
ABOUT THE AREA

Just east of Carmel and beyond the fog line is Carmel Valley, a sun-soaked region nestled between lush green mountains. Ranch-style homes, vineyards, ranches, horse properties and country club real estate are enhanced by the numerous golf courses and wineries.
2009 20 $716,962 $791,355 91% $703,373 152
2010 35 $1,098,354 $1,262,031 87% $690,000 170
2011 27 $1,110,574 $1,199,413 93% $770,000 127
2012 39 $836,535 $865,007 97% $690,000 126
2013 39 $930,795 $978,074 95% $775,000 128
sothebyshomes.com/monterey
MONTEREY
$660,000 $640,000 $620,000 $600,000 $580,000 $560,000 $540,000 $520,000 $500,000 2009 2010 2011 2012 Units Sold 2013 Average Selling Price 60 50 40 30 20 10 0
ABOUT THE AREA

Monterey is the geographical and social center of the Peninsula. Its remarkable waterfront lies along Monterey Bay National Marine Sanctuary. Fishermans Wharf, Cannery Row and the famous Monterey Bay Aquarium stretch along the vibrant waterfront.
2009 24 $569,246 $607,687 94% $520,000 146
2010 39 $646,603 $681,622 95% $563,000 83
2011 47 $572,815 $604,296 95% $510,000 153
2012 45 $561,261 $576,655 97% $510,000 82
2013 55 $607,080 $613,738 99% $585,000 48
MONTEREY/SALINAS HIGHWAY
$800,000 $780,000 $760,000 $740,000 $720,000 $700,000 $680,000 2009 2010 2011 2012 Units Sold 2013 Average Selling Price 70 60 50 40 30 20 10 0
ABOUT THE AREA

Salinas lies directly east of the Monterey Peninsula and is the county seat and largest city in Monterey County. Situated in the lush and fertile Salinas Valley, known as the Salad Bowl of America,Salinas has a thriving agricultural economy.
2009 49 $759,692 $801,279 95% $660,000 157
2010 53 $726,833 $747,281 97% $600,000 127
2011 48 $782,178 $833,233 94% $589,000 192
2012 47 $718,211 $764,328 94% $528,000 133
2013 60 $727,998 $753,916 97% $600,000 82
SERVING THE MONTEREY PENINSULA
PACIFIC GROVE
$760,000 $740,000 $720,000 $700,000 $680,000 $660,000 $640,000 $620,000 $600,000 2009 2010 2011 2012 Units Sold 2013 Average Selling Price
60 50 40 30 20 10 0
ABOUT THE AREA

Popularly known as Americas Last Home Town, Pacific Grove possesses a quaint and quiet charm all its own. Famous for its numerous Victorian-style homes, Pacific Grove has a rich architectural history, apparent in its old-style downtown.
2009 20 $718,825 $781,120 92% $603,750 146
2010 49 $737,898 $797,606 93% $605,000 114
2011 36 $649,179 $695,451 93% $554,500 110
2012 49 $653,298 $673,710 97% $600,000 118
2013 46 $738,624 $750,198 98% $665,000 65
PEBBLE BEACH
$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2009 2010 2011 2012 Units Sold 2013 Average Selling Price 30 25 20 15 10 5 0
ABOUT THE AREA

Pebble Beach is a prestigious community world renowned for its unparalleled golf. Boasting seven courses within its gates, it is most notable for the Pebble Beach Golf Links, which is considered by many to be the best public course in the world.
2009 14 $1,831,786 $2,269,486 81% $1,000,000 112
2010 24 $3,137,938 $3,780,913 83% $1,377,500 153
2011 17 $1,501,559 $1,635,418 92% $945,000 181
2012 28 $1,572,779 $1,706,518 92% $1,059,000 127
2013 18 $2,589,243 $2,787,833 93% $1,650,000 208
sothebyshomes.com/monterey
ON THE MARKET
FEATURED PROPERTIES
CARMEL HIGHLANDS, CA
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE

IN METROPOLITAN MARKETS
Price: $4,250,000 Agents: Mike Jashinski 831.236.8913 Nestled into a private and promontory six acre home site in Carmel Highlands lies this exquisite Mediterranean residence which captures the essence of a luxurious yet intimate Italian Villa. Inspired by the stunning ocean views, Brezza Di Mare was the culmination of the owners appreciation for this magical setting & years of architectural planning and masterful design. WEB: 0473421 CARMEL, CA
SAN FRANCISCO
3 br, 4 ba, 1 hf ba | $2,999,000
MALIBU
4 br, 4 ba, 1 hf ba | $3,980,000
NEW YORK
2 br, 2 ba | $2,950,000
IN RESORT MARKETS
PALM BEACH
4 br, 5 ba | $3,400,000
SANTA FE
640 +/- Acres | $3,520,000
POCASSET
4 br, 4 ba, 1 hf ba | $3,995,000
IN FOREIGN MARKETS
Price: $3,950,000 Agent: John Saar 831.915.0991 Contemporary architecture defined by concrete and glass & Corten steel roof.The estate is sequestered by approx 40 acres of greenbelt with a 270 degree view of the ocean, Point Lobos, the Santa Lucia Mountains & Carmel Valley from 135 ft. of floorto-ceiling windows. Media room, meditation room and a sauna. WEB: 0473177
ST. JOHN
3 br, 3 ba | $2,599,000
PRAGUE
2 ba | $3,307,063
TAIWAN
3 br, 2 ba | $2,981,563
RECENTLY SOLD AT AUCTION
GARCIA COMPOSITION CONSTRUCTIVE BY J. TORRES Latin American Art May 28, 2013 Sold For: $1.4 Million
MARIONETTES BY JOHN SINGER SARGENT American Art May 22, 2013 Sold For: $5.2 Million
THE YOUNGER SPRING BY PIETER BRUEGHEL Old Master Paintings June 6, 2013 Sold For: $2.3 Million

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MARKET UPDATE | Q2 2013

SIX YEARS OF AVERAGE SELLING PRICES | Q2 | MONTEREY PENINSULA*

$2,000,000 $1,500,000 $1,000,000 $500,000

$2008 2009 2010 2011 2012 2013 Average Selling Price

MONTEREY PENINSULA BROKERAGES

$600,000 $400,000 $200,000 $-

2009 151 $928,351 $1,036,305 90% $715,000 147

2010 244 $1,147,026 $1,284,046 89% $725,000 130

2011 230 $965,655 $1,038,436 93% $681,000 157

2012 283 $934,406 $995,839 94% $690,000 126

2013 295 $1,060,157 $1,109,821 96% $713,000 97

ABOUT THE AREA

$600,000 $400,000 $200,000 $-

2010 1 $415,000 $415,000 100% $415,000 420

2011 2 $285,000 $284,950 100% $285,000 128

2012 3 $1,158,500 $1,348,333 86% $1,325,500 152

2013 3 $901,333 $1,063,300 85% $900,000 242

ABOUT THE AREA

2009 21 $1,393,500 $1,527,262 91% $1,395,000 139

2010 40 $1,474,244 $1,612,808 91% $1,256,250 147

2011 50 $1,477,128 $1,596,058 93% $1,160,000 160

2012 70 $1,256,135 $1,365,786 92% $1,050,500 149

2013 74 $1,568,770 $1,653,808 95% $1,242,500 118

SERVING THE MONTEREY PENINSULA

ABOUT THE AREA

2009 3 $1,890,000 $2,446,666 77% $1,025,000 174

2010 3 $2,280,000 $2,731,667 83% $1,600,000 92

2011 3 $1,441,667 $1,616,000 89% $1,475,000 326

2012 2 $2,672,500 $2,885,000 93% $2,672,500 285

ABOUT THE AREA

2009 20 $716,962 $791,355 91% $703,373 152

2010 35 $1,098,354 $1,262,031 87% $690,000 170

2011 27 $1,110,574 $1,199,413 93% $770,000 127

2012 39 $836,535 $865,007 97% $690,000 126

2013 39 $930,795 $978,074 95% $775,000 128

ABOUT THE AREA

2009 24 $569,246 $607,687 94% $520,000 146

2010 39 $646,603 $681,622 95% $563,000 83

2011 47 $572,815 $604,296 95% $510,000 153

2012 45 $561,261 $576,655 97% $510,000 82

2013 55 $607,080 $613,738 99% $585,000 48

ABOUT THE AREA

2009 49 $759,692 $801,279 95% $660,000 157

2010 53 $726,833 $747,281 97% $600,000 127

2011 48 $782,178 $833,233 94% $589,000 192

2012 47 $718,211 $764,328 94% $528,000 133

2013 60 $727,998 $753,916 97% $600,000 82

SERVING THE MONTEREY PENINSULA

ABOUT THE AREA

2009 20 $718,825 $781,120 92% $603,750 146

2010 49 $737,898 $797,606 93% $605,000 114

2011 36 $649,179 $695,451 93% $554,500 110

2012 49 $653,298 $673,710 97% $600,000 118

2013 46 $738,624 $750,198 98% $665,000 65

ABOUT THE AREA

2009 14 $1,831,786 $2,269,486 81% $1,000,000 112

2010 24 $3,137,938 $3,780,913 83% $1,377,500 153

2011 17 $1,501,559 $1,635,418 92% $945,000 181

2012 28 $1,572,779 $1,706,518 92% $1,059,000 127

2013 18 $2,589,243 $2,787,833 93% $1,650,000 208

LISTINGS AROUND THE WORLD IN THIS PRICE RANGE

RECENTLY SOLD AT AUCTION

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