Pacific Grove Homes Market Action Report Real Estate Sales For April 2011

MARKET ACTION REPORT April 2011
Nicole Truszkowski
City: Pacific Grove CIPS, CLHMS, TRC, Broker Associate
831-238-7449
Nicole@EstatesofCarmel.com
Price Range: All | Properties: Single Family - Condo - TwnHm
www.EstatesofCarmel.com
Trending versus*: Trending versus*:
Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year
Median List Price of all Current Listings $627,500
Average List Price of all Current Listings $912,012
April Median Sales Price $595,000 $540,000
April Average Sales Price $668,994 $669,388
Total Properties Currently for Sale (Inventory) 90
April Number of Properties Sold 11 46
April Average Days on Market (Solds) 91 126
Asking Price per Square Foot (based on New Listings) $663 $539
April Sold Price per Square Foot $454 $440
April Month's Supply of Inventory 8.2 7.5
April Sale Price vs List Price Ratio 94.4% 96.2%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2010) / YTD = Year-to-date | Arrows indicate if Month / YTD values are higher (up), lower (down) or unchanged (flat)
Number of Properties Sold 3 Mo Avg

20
Property Sales 18
19
18
April Property sales were 11, down 38.9% from 18 in 16
17
16
16
April of 2010 and 15.4% lower than the 13 sales last 14
15
14
14
month. April 2011 sales were at a mid level compared 12
13
12
12
12
12
to April of 2010 and 2009. April YTD sales of 46 are 10
11
11
11
10
10
10
10
10
10
8
9
9
running 9.5% ahead of last year's year-to-date sales of
8
8
8
6
7
42.
6
6
4
2
3
0
M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A
08 09 10 11
Median Sales Price and Average Sales Price

(000's)
Median means Middle (the same # of properties sold above and below the Median) 3 Mo Avg
Prices 1,100
The Median Sales Price in April was $595,000, down
1,000
3.3% from $615,000 in April of 2010 and down
16.4% from $712,000 last month. The Average Sales 900
Price in April was $668,994, down 2.9% from 800
$689,194 in April of 2010 and down 22.2% from
$860,077 last month. April 2011 ASP was at a mid 700
range compared to April of 2010 and 2009. 600
500
08 09 10 11
Total Inventory & Month's Supply of Inventory (MSI)

Inventory & MSI MSI is the # of month's needed to sell all of the Inventory at the monthly Sales Pace
160 35
The Total Inventory of Properties available for sale as of
April was 90, up 8.4% from 83 last month and up 1.1% 140 30
141
134
134
133
131
from 89 in April of last year. April 2011 Inventory was at a 120

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25
mid level compared with April of 2010 and 2009.
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112
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110
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100
108
101
20
96
96
95
95
94
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92
90
90
90
89
89
80
88
87
86
86
84
83
82
81
15
76
72
60
66
A comparatively lower MSI is more beneficial for sellers 40 10

while a higher MSI is better for buyers. The April 2011 5
20
MSI of 8.2 months was at a mid level compared with April
of 2010 and 2009. 0 0
08 09 10 11
Copyright © Sotheby’s International Realty | Price Range: All | Property Types: Single Family - Condo - TwnHm
Data is provided courtesy of MLS Listings Inc. and may not reflect all relevant real estate activity. Sotheby’s International Realty does not warrant or guarantee
the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
MARKET ACTION REPORT April 2011
Nicole Truszkowski
831-238-7449
Days On Market for Sold Properties

Market Time 250
Average Days on Market (Listing to Contract) for properties sold during the month 3 Mo Avg
The average Days On Market (DOM) shows how many
days the average Property is on the market before it 186
200
sells. An upward trend in DOM tends to indicate a move
towards more of a Buyer's market, a downward trend a 150
move towards more of a Seller's market. The DOM for 91
April was 91, down 27.8% from 126 days last month and 100 75
up 21.3% from 75 days in April of last year. The April
2011 DOM was at a mid level compared with April of 50
2010 and 2009.
0
08 09 10 11
Selling Price per Square Foot

3 Mo Avg
Selling Price per Square Foot 800
Average Selling Price per Square Foot for properties that sold during the month
The Selling Price per Square Foot is a great indicator for 750
the direction of Property values. Since Median Sales
700
Price and Average Sales price can be impacted by the
650
'mix' of high or low end Properties in the market, the
selling price per square foot is a more normalized 600
indicator on the direction of Property values. The April 550
2011 Selling Price per Square Foot of $454 was down 500 449 454
432
15.9% from $540 last month and up 1.1% from 449 in 450
April of last year. 400
350
08 09 10 11
Selling Price versus Listing Price Ratio

Avg Selling Price divided by Avg Listing Price for sold properties during the month 3 Mo Avg
104%
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the 102%
average amount that Sellers are agreeing to come down
100%
from their original list price. The lower the ratio is
below 100% the more of a Buyer's market exists, a ratio 98% 96.9%
at or above 100% indicates more of a Seller's market.
96% 94.4%
The April 2011 Selling Price vs Original List Price of
94.4% was down from 97.3% last month and down from 94%
96.9% in April of last year.
92% 90.2%
90%
08 09 10 11
Inventory / New Listings / Sales

Inventory / New Listings / Sales 160 Inventory New Listings Sales
This last view of the market combines monthly 140
141
134
134
133
inventory of Properties for sale along with New Listings

131
120
124
and Sales. The graph shows the basic annual

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100
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108
101
seasonality of the market as well as the relationship

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94
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90
90
90
80
89
89
88
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86
84
between these items. The number of New Listings in

83
82
81
76
72
April 2011 was 19, equal to 19 last month and down 60

66
26.9% from 26 in April of last year. 40

20
0
08 09 10 11
Inventory / Listings / Sales April 2011
Nicole Truszkowski
831-238-7449
Inventory / New Listings / Sales

This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic
annual seasonality of the market as well as the relationship between these items. The number of New Listings in April 2011 was 19, equal to
19 last month and down 26.9% from 26 in April of last year.
160 Inventory New Listings Sales
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124
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08 09 10 11

Pacific Grove Homes Market Action Report Real Estate Sales For April 2011

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MARKET ACTION REPORT April 2011

Number of Properties Sold 3 Mo Avg

Median Sales Price and Average Sales Price

Total Inventory & Month's Supply of Inventory (MSI)

from 89 in April of last year. April 2011 Inventory was at a 120

A comparatively lower MSI is more beneficial for sellers 40 10

Days On Market for Sold Properties

Selling Price per Square Foot

Selling Price versus Listing Price Ratio

Inventory / New Listings / Sales

inventory of Properties for sale along with New Listings

and Sales. The graph shows the basic annual

seasonality of the market as well as the relationship

between these items. The number of New Listings in

April 2011 was 19, equal to 19 last month and down 60

26.9% from 26 in April of last year. 40

Inventory / New Listings / Sales

160 Inventory New Listings Sales

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