The Monterey Peninsula is one of the most beautiful places on earth. With “home” continuing to be more important than ever, demand for housing in this area remains very high. All of the reasons families have decided to relocate from urban markets to this area remain. At the same time the frenzy levels of 2020 have started to subside. While each of the nine markets we track in this report can vary, overall, it is safe to say that The Peninsula is beginning to normalize at what seems like healthy and potentially more sustainable levels.

In most of our nine markets, sales and volumes in the current quarter are lower than Q2 of this year and down more from the second half of last year. However, our year-to-date levels are higher this year than last. COVID had all but shut down a few months in early 2020 and those months in 2021 were flourishing. Overall, 2021 looks like it will land higher in volume that 2020. Said plainly, our market appears to be slower now than last year, but busier than any other year we’ve ever had. With demand remaining high, we believe this is a much healthier level and one that several economists are calling a new normalization of our markets.

If you or any of your friends or family are considering a real estate transaction in this market, it has never been more important to enlist a market leading company and knowledgeable agent to guide you through the dynamic changes we are experiencing. At Carmel Realty Company and Monterey Coast Realty we engage a powerful in-house analytics team to track every key indicator in our market. We then pair this data with the market’s most experienced and successful agents to deliver exceptional results for our clients.

Please enjoy the following quarterly market report and let us know if we can provide you with any additional information or support.