As the New Monterey market sales cycle accelerates into the summer season, average sales prices have increased from $483,000 in the first quarter to $625,000 in the second.
The New Monterey marketplace second quarter 2008:
-In the second quarter 4 homes sold compared with 3 home sales the first quarter.
-7 homes are currently in escrow compared with 3 in the first quarter.
-18 homes are currently for sale compared with 12 in the first quarter.
The following homes have sold in 2008:
Address Sales Price
1400 Hoffman $760,000
799 Lyndon St. $675,000
640 Alice St. $667,000
837 Terry St. $580,000
610 Taylor St. $579,000
589 Newton St. $465,000
624 Terry St. $425,000
Remember, the current market responds to logical pricing; we are seeing homes that are priced right taking approximately 4 months to sell.
