Condo Market Continues Steady – First Quarter 2017
Monterey Peninsula Condo Report
First Quarter 2017
Market Continues Steady
By: Paul Brocchini and Mark Ryan
Just as we reported in our single-family-homes’ report in The Carmel Pine, the first quarter market for condominiums did not indicate any new trends but tracked the steady course shown last year.
There are minor differences from the first quarter of last year. Dollar volume was down a bit, the number of sales was exactly the same and prices were up in six of the nine markets surveyed.
Only the Market Barometer, which shows the number of listings under contract in relation to the total number of properties on the market, had a marked change year to year. Last year on April 1st there were 67 properties on the market of which 34 were in escrow or 44%. This year there were fewer condos for sale on April 1st, on 55 of which 19 were in escrow or 35%. The number of listings not under contract hence available to buyers was almost exactly the same, 33 last year and 36 this year.
All of this leads to one simple conclusion. The condo market has been and continues to be healthy.
Check out the charts to improve your understanding.
ATTENTION BUYERS AND SELLERS – PAUL AND MARK IN THE TRENCHES
We know this market and are here to provide you with smart representation. Call, email or text and we will respond immediately. And we are never too busy to accept your referrals.
Paul Brocchini and Mark Ryan are real estate agents with Carmel Realty Company, NE Corner of Dolores & 8th, Carmel-by-the-Sea. They can be reached at either 831-238-1498 (Mark) or 831-601-1620 (Paul) The charts are based in whole or in part on data supplied by the Monterey County Association of Realtors’ Multiple Listing Service MLS). Neither the Association nor the MLS guarantees or is responsible for their accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity.