Pacific Grove Homes Market Action Report Real Estate Sales for January 2015

MARKET ACTION REPORT

January 2015

City: Pacific GroveNicole TruszkowskiSales Associate(831) 238-7449(831) [email protected]

Price Range: $0 to $999,999,000 | Properties: Single Family Home, Townhome, Condo

Sotheby's International Realty® is a registered trademark licensed to Sotheby's International Realty Affiliates LLC. Operated by Sotheby's International Realty, Inc.

Based on information from MLSListings, Inc for the period 2/1/2012 through 1/31/2015. Due to MLS reporting methods and allowable reporting policy, this data is onlyinformational and may not be completely accurate. Therefore, Sotheby's Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS'smay not reflect all real estate activity in the market.

Trending Versus*: Trending Versus*:Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear

Median List Price of all Current Listings $874,000 Average List Price of all Current Listings $1,233,819 January Median Sales Price $681,000 $681,000January Average Sales Price $883,871 $883,871Total Properties Currently for Sale (Inventory) 42 January Number of Properties Sold 9 9January Average Days on Market (Solds) 71 71Asking Price per Square Foot (based on New Listings) $597 $597January Sold Price per Square Foot $711 $711January Month's Supply of Inventory 4.7 4.7January Sale Price vs List Price Ratio 96.9% 95.4%

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Property Sales January Property sales were 9, down -40.0% from 15 in January of 2014 and -35.7% lower than the 14 sales last month. January 2015 sales were at theirlowest level compared to January of 2014 and 2013. January YTD sales of 9 are running -40.0% behind last year's year-to-date sales of 15.

Prices The Median Sales Price in January was $681,000, down -8.6% from $745,000 in January of 2014 and down -2.3% from $697,000 last month. The AverageSales Price in January was $883,871, up 7.2% from $824,127 in January of 2014 and up 4.0% from $849,607 last month. January 2015 ASP was at highestlevel compared to January of 2014 and 2013.


January 2015





Inventory & MSI The Total Inventory of Properties available for sale as of January was 42, up 10.5% from 38 last month and down -6.7% from 45 in January of last year. January 2015 Inventory was at the lowest level compared to January of 2014 and 2013. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2015 MSI of 4.7 months was at its highest levelcompared with January of 2014 and 2013.

Market Time The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate amove towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for January was 71, down -9.0% from 78days last month and equal to 71 days in January of last year. The January 2015 DOM was at a mid range compared with January of 2014 and 2013.

Selling Price per Square Foot The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impactedby the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The January 2015 Selling Price per Square Foot of $711 was up 18.1% from $602 last month and up 28.3% from $554 in January of last year.


January 2015





Selling Price vs Listing Price The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2015 Selling Price vs List Price of 96.9% was upfrom 96.1% last month and up from 96.8% in January of last year.

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 annualseasonality of the market as well as the relationship between these items. The number of New Listings in January 2015 was 17, up 70.0% from 10 last monthand down -5.6% from 18 in January of last year.


January 2015




Based on information from MLSListings, Inc for the period 2/1/2012 through 1/31/2015. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Sotheby's Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market.

F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15

Homes Sold 10 27 21 18 17 18 14 22 22 22 11 11 9 22 21 14 16 17 15 14 18 15 12 15 6 16 19 17 17 13 14 11 19 14 14 93 Mo. Roll Avg 19 22 19 18 16 18 19 22 18 15 10 14 17 19 17 16 16 15 16 16 15 14 11 12 14 17 18 16 15 13 15 15 16 12

(000's) F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15MedianSalePrice 557 500 520 612 600 486 546 490 605 623 722 599 650 607 655 603 660 730 725 687 701 600 653 745 728 600 655 680 730 714 648 625 689 840 697 6813 Mo. Roll Avg 526 544 577 566 544 508 547 573 650 648 657 619 637 622 639 664 705 714 704 663 651 666 708 691 661 645 688 708 697 662 654 718 742 739

F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15Inventory 79 60 56 57 55 74 69 66 65 62 47 43 43 45 45 47 59 62 62 53 44 35 38 45 44 42 45 47 46 45 47 48 46 43 38 42MSI 8 2 3 3 3 4 5 3 3 3 4 4 5 2 2 3 4 4 4 4 2 2 3 3 7 3 2 3 3 3 3 4 2 3 3 5

F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15Days On Market 76 95 104 154 87 62 82 33 44 75 42 61 82 70 98 47 36 26 75 125 93 62 99 71 76 55 53 68 77 41 79 74 38 56 78 713 Mo. Roll Avg 92 118 115 101 77 59 53 51 54 59 62 71 83 72 60 36 46 75 98 93 85 77 82 67 61 59 66 62 66 65 64 56 57 68

F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15Price per Sq Ft 401 385 400 385 434 451 391 422 454 408 458 451 539 410 529 603 447 482 518 477 527 490 518 554 477 484 587 454 656 592 532 484 530 621 602 7113 Mo. Roll Avg 395 390 406 423 425 421 422 428 440 439 483 467 493 514 526 511 482 492 507 498 512 521 516 505 516 508 566 567 593 536 515 545 584 645

F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15Sale to List Price 0.950 0.952 0.974 0.962 0.979 0.950 0.951 0.948 0.983 0.974 0.981 0.959 0.997 0.972 0.971 0.981 0.995 0.981 0.961 0.975 0.966 0.964 0.958 0.968 0.999 0.967 0.976 0.968 0.948 0.972 0.976 0.974 0.964 0.964 0.961 0.969

3 Mo. Roll Avg 0.959 0.963 0.972 0.964 0.960 0.950 0.961 0.968 0.979 0.971 0.979 0.976 0.980 0.975 0.982 0.986 0.979 0.972 0.967 0.968 0.963 0.963 0.975 0.978 0.981 0.970 0.964 0.963 0.965 0.974 0.971 0.967 0.963 0.965

F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15

New Listings 25 16 16 21 25 32 24 21 21 13 7 21 15 26 22 18 25 21 18 15 11 10 19 18 17 21 26 15 16 19 22 19 15 13 10 17Inventory 79 60 56 57 55 74 69 66 65 62 47 43 43 45 45 47 59 62 62 53 44 35 38 45 44 42 45 47 46 45 47 48 46 43 38 42Sales 10 27 21 18 17 18 14 22 22 22 11 11 9 22 21 14 16 17 15 14 18 15 12 15 6 16 19 17 17 13 14 11 19 14 14 9

(000's) F 12 M A M J J A S O N D J 13 F M A M J J A S O N D J 14 F M A M J J A S O N D J 15Avg Sale Price 613 526 566 688 626 558 649 581 613 654 651 623 835 663 750 697 686 750 711 705 907 737 796 824 667 665 733 804 1,234 893 940 840 788 895 850 8843 Mo. Roll Avg 568 593 627 624 611 596 614 616 639 643 703 707 749 703 711 711 716 722 774 783 814 786 762 719 688 734 924 977 1,022 891 856 841 844 876

Pacific Grove Homes Market Action Report Real Estate Sales for January 2015

Documents

Transcript of Pacific Grove Homes Market Action Report Real Estate Sales for January 2015