Monterey County Sees Average Home Sale Price on the Rise

Have we finally seen the bottom of the market in Carmel?

It's very possible, based on recent stats published in the Monterey Herald ("Average home sale price rises 10 percent," Lance Wallace, 9/24/11)

Monterey County real estate sales were up slightly from July to August, with the average sale price rising 10.4percent to $441,707.
There were 269 homes sold in the county in August, up 12 from July, the Association of Realtors reported. The August total was off five from a year ago.
Sales in Carmel, which have been strong all year, dipped from 16 in July to 11 in August, although the average sale jumped from $1.33 million to $1.65 million. 

Carmel Valley sales were down from 12 to eight, while the average sale price jumped from $607,000 to $775,000.

Sales in South County, which has the lowest prices in the county, rose from 43 to 55. Sales were up by two in East Salinas, which has the second-lowest prices.

In Pacific Grove, there were 13 sales in July and 18 in August. There was an average of 11.3 sales a month for the first half of the year.

So remember, while it's been said before, real estate really is all about location. So before you buy or sell, make sure you are working with the right information for your local market.