Pacific Grove Real Estate Sales Market Action Report August 2015

MARKET ACTION REPORT

August 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 9/1/2012 through 8/31/2015. 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 $1,154,500 Average List Price of all Current Listings $1,419,940 August Median Sales Price $727,000 $752,500August Average Sales Price $846,078 $868,258Total Properties Currently for Sale (Inventory) 42 August Number of Properties Sold 16 128August Average Days on Market (Solds) 73 50Asking Price per Square Foot (based on New Listings) $706 $625August Sold Price per Square Foot $568 $613August Month's Supply of Inventory 2.6 2.8August Sale Price vs List Price Ratio 99.0% 97.4%

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

Property Sales August Property sales were 16, up 14.3% from 14 in August of 2014 and -23.8% lower than the 21 sales last month. August 2015 sales were at their highestlevel compared to August of 2014 and 2013. August YTD sales of 128 are running 9.4% ahead of last year's year-to-date sales of 117.

Prices The Median Sales Price in August was $727,000, up 12.2% from $648,000 in August of 2014 and up 6.1% from $685,000 last month. The Average Sales Pricein August was $846,078, down -10.0% from $939,929 in August of 2014 and down -3.8% from $879,810 last month. August 2015 ASP was at a mid rangecompared to August of 2014 and 2013.


August 2015





Inventory & MSI The Total Inventory of Properties available for sale as of August was 42, down -10.6% from 47 last month and down -10.6% from 47 in August of last year. August 2015 Inventory was at the lowest level compared to August of 2014 and 2013. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2015 MSI of 2.6 months was at its lowest levelcompared with August 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 August was 73, up 121.2% from 33 dayslast month and down -7.6% from 79 days in August of last year. The August 2015 DOM was at its lowest level compared with August 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 August 2015 Selling Price per Square Foot of $568 was down -11.8% from $644 last month and up 6.8% from $532 in August of last year.


August 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 August 2015 Selling Price vs List Price of 99.0% was upfrom 97.5% last month and up from 97.6% in August 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 August 2015 was 13, down -40.9% from 22 lastmonth and down -40.9% from 22 in August of last year.


August 2015




Based on information from MLSListings, Inc for the period 9/1/2012 through 8/31/2015. 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.

S 12 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 F M A M J J A

Homes Sold 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 9 17 11 22 23 21 163 Mo. Roll Avg 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 11 12 12 17 19 22 20

(000's) S 12 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 F M A M J J AMedianSalePrice 490 605 623 722 599 650 607 655 603 660 730 725 687 701 600 653 745 728 600 655 680 730 714 648 625 689 840 697 681 915 815 728 823 655 685 7273 Mo. Roll Avg 573 650 648 657 619 637 622 639 664 705 714 704 663 651 666 708 691 661 645 688 708 697 662 654 718 742 739 764 804 819 788 735 721 689

S 12 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 F M A M J J AInventory 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 47 44 40 45 37 32 35 30 45 47 42MSI 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 4 2 3 1 2 2 3

S 12 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 F M A M J J ADays On Market 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 71 57 59 96 32 30 33 733 Mo. Roll Avg 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 69 62 71 62 53 32 45

S 12 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 F M A M J J APrice per Sq Ft 422 454 408 458 451 539 410 529 603 447 482 518 477 527 490 518 554 477 484 587 454 656 592 532 484 530 621 602 711 700 632 495 621 580 644 5683 Mo. Roll Avg 428 440 439 483 467 493 514 526 511 482 492 507 498 512 521 516 505 516 508 566 567 593 536 515 545 584 645 671 681 609 583 565 615 597

S 12 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 F M A M J J ASale to List Price 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 0.985 0.972 0.969 0.988 0.985 0.975 0.990

3 Mo. Roll Avg 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 0.972 0.975 0.975 0.976 0.981 0.983 0.983

S 12 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 F M A M J J A

New Listings 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 17 15 15 28 22 32 22 13Inventory 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 47 44 40 45 37 32 35 30 45 47 42Sales 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 9 17 11 22 23 21 16

(000's) S 12 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 F M A M J J AAvg Sale Price 581 613 654 651 623 835 663 750 697 686 750 711 705 907 737 796 824 667 665 733 804 1,234 893 940 840 788 895 850 884 841 957 754 909 829 880 8463 Mo. Roll Avg 616 639 643 703 707 749 703 711 711 716 722 774 783 814 786 762 719 688 734 924 977 1,022 891 856 841 844 876 858 894 850 873 830 872 852

Pacific Grove Real Estate Sales Market Action Report August 2015

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