What’s happening with Monterey Real Estate?

Looking at just Monterey Real Estate sales in the last 90 days, there have been 48 homes sold.  Twenty five of these homes sold have been under $500,000.  One million dollar home — 47 Cielo Vista Dr, Monterey, has sold at $1,050,000.  Obviously the concentration of sales is still in the low end of the market with many of them bank foreclosure properties.

Three of them went for under $300,000. So what do you get in this price range? Alot of work and not just cosmetic. The worst of the homes may require all cash in order to buy the home. There were 9 under the $400,000 mark. In this price range you are going to get smaller homes or bigger ones that still need alot of work.  Go up to the next level $400,000 to just under $500,000 and there were 13 sales. In this price range you usually get quite a bit for your money, a bigger home and less major work in most cases. There was an especially good buy, a bank owned home at 5 Shepherd’s Place in Skyline Forest area of Monterey. This home sold for $460,000 and was 2210 sq.ft – though a 2 bedroom, 2 bath. Good price for the popular Skyline Forest Neighborhood!

Go up to the next price level of Monterey Sold homes, $500 to $600,000  and there were 12 sales. There were several sales in the very popular Old Town Monterey Neighborhood which is walking distance to the downtown area. Up one more level $600,000 to $700,000 and there were 7 sales. In the last level – $700,000 to just over a million there were 4 sales.

So the sales were still driven by the lower end of the market. As you go higher in price range, then the sales are much lower.

There have been some incredible prices in the last 90 days with the Seaside Highlands homes – from the buyer perspective. Two homes sold for under the $500,000 mark!  4510 Peninsula Drive a 3 bedroom, 3 bath 2337 sq. ft sold for $425,000  This was a short sale and the home had been on the market for 201 days!! Guess it pays to wait sometimes!

A single story home at 4315 Peninsula Point drive sold for $480,000 The single stories are a popular floor plan. This one was a 3 bedroom, 3 bath Seaside Highlands home that is 1720 sq. ft.  Great buy for under $500,000.

Another single story, a slightly larger 2115 sq ft also in Seaside Highlands sold for $509,000. This one was only on the market for 23 days.

4506 Seascape Court in Seaside Highlands sold for $ 536,000 and was on the market for 123 days. This was a 3 bedroom, 2 ½ bath home, 2337 sq. ft. This was a regular sale – a rarity in the current market in Seaside Highlands.

Two more on Peninsula Point also sold. The one at  4510 Peninsula Pt. sold for $525,000 and was 2952 sq. ft.  This one was scheduled for auction so there may have been an additional 5% cost on top of that price.  The other one at 4260 Peninsula Point Drive sold for $575,000 and was a 4 bedroom, 2 ½ bath home, 3205 sq. ft. A whole lot of house for the price, also with great views of the bay and backing onto the Bayonet Black Horse Golf Course.

4277 Bay Crest Circle a bank owned home 2593 sq ft and 4 bedroom, 3 full baths sold for $562,000. This Seaside Highlands home was on a 10,000 plus sq ft. lot.

4700 Peninsula Point Drive a 4 bedroom, 2 ½ bath home with 3113 sq. ft. sold for $500,000 – sort of as this was a “net to the investors” price, with commissions and selling costs added on to the top of this price.

One last Seaside Highlands sale in the last 90 days was at 5020 Pacific Crest Drive, one of the homes in the original section. This 4 bedroom, 2 ½ bath home was 3303 sq. ft. on a 7100 sq ft lot and sold for $640,000.  This had lots of upgrades and ocean views.

This was a lot of activity in the last 90 days! If you are a buyer and want a large, newer home, then Seaside Highlands is a great place to be looking!! 

Current info on Seaside Highlands homes for sale

Or call Eileen to for more info or to see any of the current homes.  (831) 277-9939