The Monterey Peninsula is NOT in a recession, real estate sales are happening like crazy. The deals are everywhere to be found if you have cash, or can qualify for a loan. The top home sale in October along the Salinas Monterey Corridor was a home that sold on Tesoro Road for $2,147,500. A 6600 Sqft home situated on almost an acre in the Pasadera Country Club community.
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October Property sales were 21, down 4.5% from 22 in October of 2009 and 12.5% lower than the 24 sales last month. October 2010 sales were at a mid level compared to October of 2009 and 2008. October YTD sales of 146 are running 10.6% ahead of last year’s year-to-date sales of 132.
The Median Sales Price in October was $730,000, up 42.4% from $512,500 in October of 2009 and up 27.5% from $572,500 last month. The Average Sales Price in October was $828,701, up 30.1% from $636,773 in October of 2009 and up 3.5% from $800,691 last month.
The Total Inventory of Properties available for sale as of October was 129, down 6.5% from 138 last month and down 9.2% from 142 in October of last year. October 2010 Inventory was at its lowest level compared with October of 2009 and 2008. For more detailed statistics on October 2010 sales download the attached report.
