Condo Report – 2nd Quarter 2015

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Monterey Peninsula Real Estate Market
Condo Report
2nd Quarter 2015

Significant Dollar Gain Over Last Year

By: Paul Brocchini and Mark Ryan

The condo market performed well in the second quarter. Dollar volume increased 32% from $23,013,200 to $30,471,700.

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That big jump is almost totally related to two sales at Spanish Bay in Pebble Beach, one at $3,900,000 and the other at $4,250,000. Those two sales had a major impact as there were two fewer transactions this year from last, 45 this year and 47 last.

On the price front, all of the markets were up with the exception of Greater Carmel and Seaside which had no sales in the quarter for the second straight year.

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The Market Barometer had a strong reading on July 1st with 43% of the listings under contract, boding well for the third quarter.Barometer215Condo

It is a strong market for sellers, and the price differential between condos and detached single-family residences remains attractive to buyers.

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Paul Brocchini and Mark Ryan are real estate agents with Coldwell Banker Del Monte Realty, Carmel-by-the-Sea office at Junipero 2SW of 5th.  They can be reached at either 831-238-1498 or 831-601-1620 The charts are based in whole or in part on data supplied by MLSListings.com,  our Multiple Listing Service (MLS).  Neither the Monterey Association of Realtors nor the MLS guarantee or is responsible for their accuracy.  Data maintained by the MLS may not reflect all real estate activity in the market.

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