2020 Bambace Peterson 2020 Market Report 3-13-21

Annual Market Report 2020 Monterey Peninsula Key Markets

From the Bambace Peterson Team

Living on the Monterey Peninsula is a way of life. We haven’t found anywhere that is as culturally rich with such a soulful spirit, natural geographic diversity, and a soothing yet powerful energy. There is no other place that we would live. And we’re’ not alone. In 2020, a year like non-other, demand for primary and secondary homeowners soared. This continues into the 2021 and we expect prolonged demand with a constrained supply. Enclosed you will find an annual recap of market data for each community. This provides further context to the monthly market reports that you can find every month on our website bambacepeterson.com. Here you will also find informative blogs, useful homeowner tips, and the leading real estate search tools. Growing up on the Monterey Peninsula, we have deep connections to the area, strong community ties, and intimate knowledge of the different neighborhoods. We look forward to using this experience to be a resource for you or someone you know.

Sincerely,

The Bambace Peterson Team

2021 Kicko ff and Year in Review

Contents Number of Sales (All Areas) Average DOM (All Areas)

Our goal is to provide you with the data behind the trends and empower you to make the best real estate decisions for you and your loved ones. Homes are our passion and just as every property is unique so are the Buyers and Sellers. The charts we’ve created are a deep dive into the statistics by area on the Monterey Peninsula; they show the activity that has occurred over the last fifteen years and provides context for your understanding of pricing, average days on market, number of sales, as well as percentage of variation in the List to Sales price. Average Days on Market A good indicator of demand, in general the more days on market the lower the demand. Some properties may have also had unrealistic list prices that pushed days higher as well. Number of Sales Indicator of volume movement by area. Some areas are larger or have more properties available which skew the numbers when comparing two different areas. Therefore it is important to look at the trend line of each particular area over time. Average List Price / Average Sale Price The average list and sale price is calculated by adding all home list/sales prices and then dividing by the total number of listings/sales. Averages can be skewed based on extreme data points such as a very high or low price (i.e. all homes sell $1.5-2.25M and one sells at $7M). Median Sale Price The median sales price puts all home sales in order and finds the midpoint. That is where half of the homes sold for more and half the homes sold for less. It is an accurate measure of where homes are actually selling.

3 4 7

Carmel West Carmel East Carmel Highlands Big Sur Pebble Beach Pacific Grove Monterey Carmel Valley Golf Communities

14 16 18

22 30 36 44 49 51 54 56 59

Compass Concierge Highway 68 Corridor About Compass Bambace Peterson Team 2020 Sales Areas

Each community and city has unique micro markets. Pricing varies greatly from one neighborhood to another and encompasses many small areas, with diverse values for the close proximity to one another. To give you a more accurate understanding of value of the micro-areas, we have broken each down into separate groups to best reflect their specific values and activity.

Carmel West: 93921 zip code areas in addition includes Carmel Woods, Carmel Point and Hatton Fields

Carmel East: Carmel Hill, Mission Fields, High Meadows, Jacks Peak and Rio Vista

Carmel Highlands: Neighborhoods South of Rio Road to south end of Yankee Point

Pebble Beach: Each of the five MLS regions represented

Pacific Grove: Nine MLS areas grouped into five segments

Monterey: Fifteen MLS areas grouped into five segments

Carmel Valley: Eleven MLS areas grouped into four segments

Golf Communities: Four golf communities and areas with lots

Highway 68 Corridor: Four different MLS areas represented

Monterey Peninsula - All Markets Average Number of Sales

300

Pebble Beach Carmel Valley Carmel West Carmel East Carmel Highlands Pacific Grove Monterey Highway 68

225

150

75

0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Pebble Beach

Carmel Valley

Carmel West

Carmel East

Carmel Highlands

Pacific Grove

Year

Monterey

Highway 68

2006

77

79

152

19

19

111

122

55

2007

67

70

172

21

15

98

94

58

2008

77

50

121

19

13

96

105

43

2009

66

80

121

22

17

117

107

62

2010

65

133

139

28

17

129

118

96

2011

81

130

162

40

12

152

149

94

2012

112

132

175

39

24

195

175

107

2013

108

135

177

43

39

165

196

105

2014

124

132

200

40

26

155

162

98

2015

116

131

178

43

36

166

194

98

2016

116

136

183

38

19

148

163

103

2017

120

138

199

34

23

161

182

104

2018

126

135

182

23

30

143

187

86

2019

122

123

176

27

17

153

155

88

2020

149

168

225

48

43

186

166

152

bambacepeterson.com

Monterey Peninsula - All Markets Average Days on Market

Pebble Beach Carmel Valley Carmel West Carmel East Carmel Highlands Pacific Grove Monterey Highway 68

300

225

150

75

0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Pebble Beach

Carmel Valley

Carmel West

Carmel East

Carmel Highlands

Pacific Grove

Year

Monterey

Highway 68

2006

120

115

102

53

158

83

86

152

2007

159

129

117

136

191

105

114

167

2008

184

213

121

122

145

139

112

193

2009

143

147

139

147

156

131

117

177

2010

126

160

121

124

276

88

89

195

2011

152

137

121

140

254

114

123

174

2012

138

103

140

140

134

92

72

118

2013

113

96

118

98

136

61

54

94

2014

111

94

101

91

225

65

63

85

2015

116

88

104

77

154

51

54

84

2016

107

82

80

69

112

54

41

85

2017

93

95

85

74

176

55

52

73

2018

104

84

70

102

108

49

47

64

2019

113

92

78

65

111

60

62

67

2020

75

70

58

75

69

33

39

66

5

bambacepeterson.com

Carmel Market Recap

7

Carmel West Overview

47% of sales $2M-$5M

Carmel West continues to be one of the most desired and strongest markets on the Monterey Peninsula. In this area, 227 homes sold in 2020, in increase of 29%. The median price increased by 18% to $2.175M from $1.844M in 2019. The average sales price increased a similar 20% in 2020 to $2,575,924 from $2,154,400 the year prior. The average price per square foot is $1,302 but in areas like the Golden Rectangle, the average price per square foot is $1,794 with a median sale price of $3,150,000 and average price of $3,689,571. The area is broken into distinct areas and six neighborhoods where location to the beach, town, view, and size of the home drive demand from buyers around the world. The total sales volume for Carmel West in 2020 was $577,826,825, up a staggering 52.4% from the 2019 total of $379,174,368.

52.4% increase in sales dollar volume 2020

26338 Ocean View Avenue | LP $2,995,000 Sold $3,400,000, Seven offers Represented Seller

The Bambace Peterson Team 831.200.3178

bambacepeterson@compass.com @bambacepeterson DRE 01731448

Carmel West

Sales in the 93921 zip code areas in addition includes Carmel Woods, Carmel Point and Hatton Fields.

Average List Price

Average Sale Price

Median Sale Price

$2.8M

$2.1M

$1.4M

$0.7M

$0M

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Year

# of Sales

Average List Price

Average Sale Price

Median Sale Price

Average DOM

2006

152

$1,977,936

$1,836,450

$1,575,000

102

2007

172

$2,148,126

$2,003,740

$1,600,000

117

2008

121

$2,031,033

$1,846,236

$1,630,000

121

2009

121

$1,690,455

$1,521,143

$1,360,000

139

2010

139

$1,434,170

$1,300,372

$1,108,000

121

2011

162

$1,535,012

$1,425,870

$1,150,000

121

2012

175

$1,554,635

$1,436,308

$1,145,000

140

2013

177

$1,730,372

$1,631,206

$1,295,000

118

2014

200

$1,915,332

$1,812,857

$1,525,000

101

2015

178

$2,313,150

$1,988,893

$1,500,000

99

2016

183

$2,154,017

$1,977,631

$1,575,000

81

2017

199

$2,357,763

$1,977,054

$1,635,000

85

2018

182

$2,467,812

$2,198,718

$1,887,500

67

2019

176

$2,436,475

$2,154,400

$1,843,750

78

2020

227

$2,724,989

$2,575,924

$2,175,000

58

60

60

47

53

51

45

40

35

37

30

32

31

19

27

21

20

15

10

19

18

18

17

2020 2018

2019

11

7

0

9

Carmel West Sales Metrics by Area

Carmel Point

Area 45

Year Avg DOM 2006 19 $3,148,895 $2,843,500 $2,200,000 145 2007 21 $3,292,995 $3,014,196 $2,864,118 224 2008 6 $2,721,666 $2,410,000 $2,500,000 124 2009 8 $2,329,875 $1,935,000 $1,612,500 82 2010 20 $1,909,300 $1,729,250 $1,630,000 145 2011 20 $1,960,145 $1,797,007 $1,442,500 127 2012 19 $2,277,578 $2,031,649 $1,750,000 227 2013 27 $2,791,925 $2,581,687 $2,250,000 217 # of Sales Avg List Price Avg Sale Price Median Sale Price 2014 26 $3,009,769 $2,857,500 $2,575,000 97 2015 14 $3,235,500 $3,025,650 $2,500,000 227 2016 19 $3,521,473 $2,830,079 $2,480,000 85 2017 27 $3,473,999 $3,274,375 $2,480,000 99 2018 29 $3,622,080 $2,738,470 $2,200,000 107 2019 21 $3,910,156 $3,219,083 $2,675,000 134 2020 26 $5,638,846 $3,727,643 $3,650,000 80

Carmel Woods 140

NE Carmel 142

NW Carmel 141

SW Carmel 143

SE Carmel 144

$6M

$4.5M

Hatton Fields 147

Carmel Point 145

$3M

$1.5M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

bambacepeterson.com

Carmel West Sales Metrics by Area

Northwest Carmel

Southwest Carmel

Year Avg DOM 2006 24 $1,698,958 $1,579,802 $1,425,000 102 2007 32 $1,866,750 $1,784,185 $1,800,000 155 2008 13 $1,421,307 $1,320,986 $1,605,625 68 2009 19 $1,676,731 $1,500,500 $1,272,500 130 2010 25 $1,241,251 $1,154,201 $830,000 145 2011 17 $1,532,052 $1,405,602 $1,275,000 146 2012 28 $1,523,392 $1,415,267 $1,187,500 130 # of Sales Avg List Price Avg Sale Price Median Sale Price 2013 20 $1,659,987 $1,565,456 $1,265,000 110 2014 28 $1,978,464 $1,906,766 $1,662,500 92 2015 29 $1,760,625 $1,662,377 $1,600,000 79 2016 38 $2,027,552 $1,854,789 $1,445,000 71 2017 30 $2,255,029 $1,950,421 $1,697,500 99 2018 17 $2,534,569 $2,078,118 $1,850,000 39 2019 18 $2,502,595 $2,094,634 $1,739,500 68 2020 42 $3,185,753 $2,717,514 $2,400,000 56

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

2006 33 $2,818,424 $2,598,356 $2,150,000 134 2007 34 $2,836,118 $2,665,416 $2,020,000 112 2008 19 $2,641,368 $2,479,078 $2,075,000 35 2009 34 $2,367,088 $2,150,113 $1,825,000 138 2010 30 $2,293,448 $1,978,108 $1,750,000 88 2011 43 $2,333,962 $2,198,372 $1,875,000 99 2012 44 $2,116,345 $1,929,719 $1,375,000 138 2013 28 $2,383,857 $2,249,308 $1,975,000 147 2014 40 $2,576,449 $2,427,851 $2,187,500 135 2015 33 $2,334,666 $2,213,246 $1,887,500 79 2016 34 $2,829,235 $2,683,220 $2,387,500 83 2017 42 $2,802,811 $2,344,811 $2,100,000 76 2018 39 $3,321,273 $3,016,708 $2,562,500 56 2019 35 $3,135,500 $2,973,401 $2,750,000 61 2020 47 $3,985,796 $3,689,571 $3,150,000 44

$4M

$4M

$3M

$3M

$2M

$2M

$1M

$1M

$0M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

Average List Price Median Sale Price

Average Sale Price

11

Carmel West Sales Metrics by Area

Northeast Carmel

Southeast Carmel

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

Year

2006 28 $1,235,105 $1,160,839 $1,047,500 93 2007 29 $1,302,017 $1,225,610 $1,233,500 148 2008 15 $1,241,646 $1,176,483 $1,096,500 93 2009 21 $1,083,590 $978,500 $877,500 154 2010 17 $888,377 $843,970 $780,000 110 2011 34 $888,088 $835,467 $696,500 103 2012 36 $923,674 $877,815 $835,000 106 2013 32 $1,042,968 $993,562 $900,000 78 2014 37 $1,182,656 $1,130,045 $910,000 91 2015 31 $1,319,467 $1,260,554 $1,125,000 89 2016 30 $1,208,766 $1,170,666 $1,100,000 72 2017 41 $1,425,083 $1,410,268 $1,350,000 74 2018 22 $1,444,215 $1,300,760 $1,260,000 76 2019 42 $1,673,807 $1,463,783 $1,322,750 60 2020 41 $1,764,013 $1,606,840 $1,445,000 62

2006 22

$1,617,909 $1,488,159 $1,362,500 175

2007 22

$1,376,932 $1,294,455 $1,267,500 213

2008 7 $1,556,684 $1,375,000 $1,087,500 88 2009 10 $1,460,800 $1,316,500 $1,212,500 115 2010 13 $1,035,601 $987,107 $850,000 127 2011 16 $922,056 $849,656 $680,000 89 2012 21 $1,176,228 $1,110,007 $1,137,000 128 2013 30 $1,406,482 $1,328,833 $1,042,500 84 2014 20 $1,582,525 $1,480,735 $1,275,000 95 2015 28 $1,544,142 $1,443,892 $1,347,500 108 2016 29 $1,849,155 $1,744,551 $1,600,000 101 2017 19 $1,820,074 $1,478,157 $1,237,500 87 2018 22 $2,235,224 $2,232,066 $2,052,500 55 2019 35 $1,944,453 $1,763,918 $1,650,000 91 2020 21 $1,812,679 $1,623,298 $1,530,000 37

$2.4M

$1.8M

$1.8M

$1.3M

$1.2M

$0.9M

$0.6M

$0.4M

$0M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sales Price

Average Sale Price

Average List Price Median Sale Price

Average Sale Price

bambacepeterson.com

Carmel West Sales Metrics by Area

Hatton Fields

Carmel Woods

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

Year

2006 15 $1,903,860 $1,771,067 $1,525,000 136 2007 19 $2,357,579 $2,178,500 $1,549,000 122 2008 9 $1,536,222 $1,422,222 $1,444,500 87 2009 14 $1,457,700 $1,329,214 $1,337,500 133 2010 16 $1,095,418 $1,043,250 $890,000 118 2011 12 $1,558,467 $1,421,908 $1,322,500 199 2012 21 $1,272,600 $1,209,542 $825,300 111 2013 20 $1,550,615 $1,473,775 $1,322,500 95 2014 31 $1,679,774 $1,563,261 $1,276,700 97 2015 22 $2,067,432 $1,872,815 $1,525,000 131 2016 20 $1,973,543 $1,723,502 $1,287,500 82 2017 25 $2,122,895 $1,753,780 $1,440,000 73 2018 28 $2,080,664 $1,856,527 $1,722,500 65 2019 18 $2,308,990 $2,064,681 $1,719,500 98 2020 26 $2,831,485 $2,320,061 $2,115,000 65

2006 14 $1,620,607 $1,548,207 $1,447,500 115 2007 14 $1,467,207 $1,375,357 $1,237,500 102 2008 6 $1,302,833 $1,221,666 $940,000 73 2009 11 $1,190,272 $1,080,454 $1,100,000 135 2010 14 $856,778 $810,190 $752,500 96 2011 21 $1,012,897 $906,540 $830,000 181 2012 17 $956,041 $889,235 $780,000 88 2013 19 $1,237,600 $1,197,565 $1,120,000 90 2014 19 $1,043,410 $986,157 $930,000 86 2015 21 $1,112,400 $1,084,967 $927,000 99 2016 13 $1,311,115 $1,255,500 $1,225,000 65 2017 15 $1,522,113 $1,218,700 $1,174,000 115 2018 25 $1,675,281 $1,591,300 $1,520,000 62 2019 17 $1,687,766 $1,591,768 $1,500,000 67 2020 24 $2,003,929 $1,665,809 $1,428,750 69

$2.2M

$3M

$1.7M

$2.3M

$1.1M

$1.5M

$0.5M

$0.8M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

$0M

Average List Price Median Sal Price

Average Sale Price

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

13

Carmel East Overview

59% increase of total home sales from 2019 43 homes sold in 2020 versus 27 in 2019 and 23 in 2018

Carmel East is a competitive home market with limited inventory and high demand. It encompasses Carmel Hill, Jacks Peak, High Meadows, Rio Vista and Mission Fields. These homes are predominantly for primary residents that are looking to be in the strong Carmel School district and conveniently close to town. The average price of $1,562,593 was up from $1,287,294 in 2019. Total home sales numbers increased 59% to 43 home sales from 27 during the year earlier. The median price of the area is $1,375,000 that had a 14% increase to $1,210,000 from 2019. Excluding Rio Vista and Jacks Peak, the median price was $1,067,500, up 19% from $898,000 the year prior. Days on the market is 75, up a touch from 2019.

24851 Outlook Place, Carmel | $1,944,000 Represented Seller

The Bambace Peterson Team 831.200.3178

bambacepeterson@compass.com @bambacepeterson DRE 01731448

Carmel East

Sales in the areas of Carmel Hill, Mission Fields, High Meadows, Jacks Peak and Rancho Rio Vista/Outlook.

$2.6M

$2M

$1.3M

$0.7M

$0M

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Average List Price

Average Sale Price

Median Sale Price

Year

# of Sales

Average List Price

Average Sale Price

Median Sale Price

Average DOM

2006

19

$1,490,511

$1,420,632

$1,200,000

53

2007

21

$1,337,917

$1,262,689

$1,150,000

136

2008

19

$1,449,028

$982,137

$865,000

122

2009

22

$1,551,113

$1,155,818

$925,000

147

2010

28

$1,062,921

$798,286

$712,500

124

2011

40

$1,394,463

$1,067,088

$850,000

140

2012

39

$1,152,133

$864,102

$778,000

140

2013

43

$2,002,863

$1,048,714

$847,200

98

2014

40

$1,655,028

$1,169,523

$1,050,000

91

2015

43

$1,610,707

$1,175,047

$877,500

77

2016

38

$1,584,261

$1,212,827

$1,075,000

69

2017

34

$1,689,217

$1,522,509

$1,120,000

74

2018

23

$2,480,632

$1,607,709

$1,205,500

102

2019

27

$1,793,044

$1,332,863

$1,210,000

65

2020

43

$2,121,139

$1,562,593

$1,375,000

75

15

12 16

9

7

10

0 4 8

5

5

6

6

2

2020 2018

2019

5

5

5

0

3

3

2

1

1

1

0

1

0

1

bambacepeterson.com

Carmel Highlands Overview

147% increase with 42 homes sold versus 17 in 2019 $16M highest sale price for new construction

The Carmel Highlands experienced an astounding 147% increase in total home sales as people looked for more space. The overall median home price rose 17% in 2020 to $2,592,500 with the average sales price up 38% to $3,579,733. In 2020, 19% of sales were in the $1.1M - $1.6M price point with another 21% in the $1.6M-$2M. 60% of the sales were over $2M+ range with 9 homes selling over $5M. Compared to 2016, total sales volume is up 233%, median prices are up 11%, and average home sales price up 50%. Some of this is attributed to two large sales of $16M+ and $13M+ estates.

The Bambace Peterson Team 831.200.3178

bambacepeterson@compass.com @bambacepeterson DRE 01731448

Carmel Highlands

The area of Carmel Meadows, Point Lobos, Lobos Ridge, Carmel Highlands, Malpaso and Yankee Point/Otter Cove.

$7M

$5.3M

$3.5M

$1.8M

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Average List Price

Average Sale Price

Median Sale Price

Year

# of Sales

Average List Price

Average Sale Price

Median Sale Price

Average DOM

2006

19

$3,863,562

$2,975,895

$2,300,000

158

2007

15

$3,302,409

$2,953,609

$1,550,000

191

2008

13

$3,264,592

$2,285,045

$1,600,000

145

2009

17

$3,783,036

$2,335,812

$1,425,000

156

2010

17

$3,306,204

$2,581,331

$1,600,000

276

2011

12

$3,599,680

$1,976,625

$1,306,000

254

2012

24

$3,392,500

$2,433,667

$1,100,000

134

2013

39

$3,695,759

$2,320,605

$1,775,000

136

2014

26

$3,755,077

$2,927,307

$2,100,000

225

2015

36

$3,421,828

$2,714,153

$2,175,000

154

2016

19

$3,510,710

$2,378,405

$2,338,000

112

2017

23

$4,691,580

$2,553,817

$1,875,000

176

2018

30

$3,950,451

$3,525,970

$2,212,500

108

2019

17

$6,328,333

$2,592,441

$2,225,000

111

2020

42

$4,760,242

$3,579,733

$2,592,500

69

9

9

0 2.5 5 7.5 10

8

8

8

10

7

7

6

2020 2018

2019

4

4

4

3

0

1

1

0

17

Big Sur Overview

3 Bambace Peterson represented 30% of sales in 2020 10 homes sold in 2020 versus 3 in 2019

Big Sur is a dramatic stretch of coastline that is a grounding and energizing spirit for so many. The area has 5-7 million visitors pass through every year. While many dream of moving to this rugged stretch of coast, only the smallest fraction actually do it. In 2020 a few more made their move a reality with a 333% increase in home sales from the year prior. However, this was only 10 total home sales. There were 5 residential lots that sold.

The average price of $3,091,667 and a median price of $2,600,000 for home sales illustrates the limited supply.

While demand was at an all-time high with the most sales in decades, days on market is still long averaging 135 days versus 200 in 2019 and 431 in 2018.

46902 Pfeiffer Ridge Road | $4,200,000 Represented Seller

The Bambace Peterson Team 831.200.3178

bambacepeterson@compass.com @bambacepeterson DRE 01731448

Big Sur

Big Sur sales in the 93920 zip code that spans a large area of mostly wilderness that begins south of Rocky Creek and continues more than 60 miles down the coast towards Plaskett Ridge Road and the county line.

$12M

$9M

$6M

$3M

$0M

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Average List Price

Average Sale Price

Median Sale Price

Year

# of Sales

Average List Price

Average Sale Price

Median Sale Price

Average DOM

2006

8

$3,566,000

$2,251,291

$2,120,165

330

2007

5

$4,938,429

$4,475,425

$2,377,800

197

2008

2

$2,888,500

$1,925,000

$1,925,000

556

2009

1

$3,396,905

$1,737,500

$1,737,500

916

2010

1

$2,972,231

$3,100,000

$3,100,000

348

2011

2

$2,936,205

$2,425,000

$2,425,000

513

2012

5

$2,365,533

$1,264,000

$985,000

427

2013

7

$2,111,174

$1,354,357

$900,000

485

2014

2

$11,944,923

$1,982,500

$1,982,500

376

2015

5

$2,516,688

$2,152,500

$1,400,000

275

2016

6

$2,245,048

$1,820,000

$1,842,500

154

2017

6

$2,603,846

$2,378,214

$1,887,500

288

2018

7

$3,625,895

$2,235,714

$1,250,000

431

2019

3

$3,525,300

$1,791,167

$1,775,000

200

2020

9

$4,487,364

$3,091,667

$2,600,000

135

10

0 2.5 5 7.5 10

6

6

5

5

3

2

2

2

1

Homes

Lots

19

20

Pebble Beach Market Recap

bambacepeterson.com

Pebble Beach Overview

$486M+ of Sales in 2020 versus $390M in 2019 38% of sales between $2M-$3M in 2020

The Pebble Beach continues the past few years of strong sales across all areas and price points. Sales volume in Pebble Beach grew 24.3.% to $485,993,791 in 2020 from $390,863,988. The overall median home price rose 28% in 2020 to $2,262,500 with the average sales price also up 28% to $3,471,384. In 2020, 28% of sales were in the $1M - $1.6M price point with another 24% in the $1.6M-$2M. 38% of sales were between $2M-$3M - clearly a sweet spot. 20% of sales were between $3M-5M and 17% above $5M+ range. Compared to 2016, total sales volume is up 59%, median prices are up 46%, and average home sales price up 33%. Some of this is attributed to generational $20M+ estates that have recently sold.

The Bambace Peterson Team 831.200.3178

bambacepeterson@compass.com @bambacepeterson DRE 01731448

Pebble Beach Sales

Average List Price

Average Sale Price

Median Sale Price

$5M

$3.8M

$2.5M

$1.3M

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Year

# of Sales

Average List Price

Average Sale Price

Median Sale Price

Average DOM

2006

77

$2,748,519

$2,485,641

$1,657,500

120

2007

67

$3,036,776

$2,751,526

$2,312,500

159

2008

77

$2,507,649

$2,244,394

$1,570,000

184

2009

66

$1,993,376

$1,770,613

$1,100,000

143

2010

65

$2,600,953

$2,216,928

$1,100,000

126

2011

81

$1,988,275

$1,788,630

$1,104,000

152

2012

112

$1,808,967

$1,645,469

$1,128,750

138

2013

108

$2,015,293

$1,866,119

$1,147,500

113

2014

124

$2,552,034

$2,367,531

$1,440,000

111

2015

117

$3,030,800

$2,132,854

$1,435,000

105

2016

117

$3,651,018

$2,619,262

$1,550,000

114

2017

121

$3,154,189

$2,233,212

$1,640,000

94

2018

126

$4,175,486

$2,855,524

$1,585,000

104

2019

122

$4,069,562

$3,203,803

$1,773,975

113

2020

140

$4,932,783

$3,471,384

$2,262,500

75

40

28

30

33

25

25

26

25

20

13

19

19

18

16

9

15

8

14

7

10

13

12

12

2020 2018

2019

9

7

7

3

0

23

Pebble Beach Sales Metrics by Area

Central Pebble Beach

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

2006 18

$5,570,000 $4,857,881

$3,495,000 141

2007 15 $3,500,000 270 2008 4 $2,775,000 $2,485,000 $2,850,000 140 2009 14 $3,407,857 $2,944,204 $1,616,653 149 2010 11 $3,355,818 $2,972,818 $2,075,000 276 2011 22 $3,141,513 $2,801,136 $1,945,000 177 $3,987,200 $3,663,551 2012 25 $2,833,656 $2,533,760 $1,875,000 155 2013 22 $3,069,772 $2,815,254 $2,450,000 224 2014 30 $3,165,217 $2,791,329 $1,950,000 169 2015 19 $3,799,457 $2,734,905 $2,250,000 150 2016 30 $5,330,140 $3,558,719 $2,775,000 180 2017 21 $5,209,801 $3,287,090 $2,668,888 95 2018 22 $5,338,817 $4,688,176 $3,750,000 151 2019 23 $5,602,037 $4,091,137 $3,290,000 177 2020 38 $5,895,400 $4,914,172 $3,675,000 108

Country Club East 176

Upper Forest 179

Country Club West 175

Central Pebble Beach 177

$6M

The Lodge Area 178

$4.5M

$3M

$1.5M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

bambacepeterson.com

Pebble Beach Sales Metrics by Area

The Lodge

Upper Forest

Year Avg DOM 2006 4 $7,420,000 $6,754,375 $6,960,000 102 2007 13 $5,852,231 $4,846,827 $3,995,000 221 2008 4 $7,198,750 $6,355,125 $6,900,000 66 # of Sales Avg List Price Avg Sale Price Median Sale Price 2009 10 $6,245,000 $5,497,500 $3,200,000 163 2010 10 $8,258,300 $6,564,500 $3,847,500 178 2011 10 $4,888,600 $4,228,700 $3,375,000 150 2012 10 $5,734,100 $4,876,834 $4,525,000 153 2013 12 $5,429,750 $4,934,583 $4,175,000 84 2014 11 $9,386,818 $8,802,727 $4,125,000 143 2015 12 $9,417,556 $5,749,149 $5,062,500 188 2016 10 $8,192,407 $8,492,000 $5,150,000 183 2017 11 $8,765,444 $5,351,991 $5,475,000 140 2018 10 $14,786,650 $10,850,000 $8,075,000 236 2019 12 $11,308,421 $12,070,292 $9,550,000 255 2020 15 $13,537,519 $8,512,200 $5,500,000 108

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

2006 9

$1,132,222 $1,061,111

$1,012,500 135

2007 6

$1,293,167 $1,214,758 $1,182,500 138

2008 3

$727,666 $681,333 $1,060,000 109

2009 9

$950,877

$877,333 $780,000

117

2010 10

$796,320 $751,340 $701,500

131

2011

6

$547,085

$558,616 $585,000 149

2012 13

$801,723 $758,205

$725,000 163

2013 13

$830,384 $799,528 $777,500

48

2014 16 $1,042,968 $997,000 $912,500 110 2015 10 $1,124,682 $1,127,500 $1,072,500 113 2016 19 $1,315,155 $984,158 $865,000 60 2017 17 $1,137,285 $1,078,441 $988,000 106 2018 16 $1,554,535 $1,227,188 $1,159,000 97 2019 17 $1,382,199 $1,300,471 $1,165,000 73 2020 17 $1,522,172 $1,358,471 $1,328,000 62

$16M

$1.6M

$12M

$1.2M

$8M

$0.8M

$4M

$0.4M

$0M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

Average List Price Median Sale Price

Average Sale Price

25

Pebble Beach Sales Metrics by Area

MPCC East

MPCC West

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

Year

2006 21

$1,805,762 $1,688,119 $1,500,000 145

2006 24 $1,861,083 $1,727,631

$1,482,500 115

2007 16

$1,613,188 $1,509,000 $1,337,500 184

2007 19 $2,237,211 $2,000,000 159 2008 13 $1,893,459 $1,834,307 $1,550,000 56 2009 22 $1,601,093 $1,439,102 $1,060,000 99 2010 22 $1,549,454 $1,402,740 $1,075,000 74 2011 27 $1,187,529 $1,110,833 $870,000 142 $2,036,441 2012 36 $1,468,000 $1,399,298 $1,205,000 114 2013 29 $1,340,865 $1,288,205 $1,200,000 78 2014 33 $1,817,102 $1,718,584 $1,440,000 96 2015 39 $2,385,994 $1,916,465 $1,560,000 90 2016 30 $2,418,170 $2,113,531 $1,660,000 95 2017 36 $2,085,065 $2,105,883 $1,707,500 102 2018 35 $2,266,636 $1,990,245 $1,690,000 55 2019 47 $2,403,148 $2,096,266 $1,665,000 74 2020 39 $2,765,682 $2,565,808 $2,225,000 61

2008 15

$1,329,533 $1,243,080 $1,070,000 68

2009 13

$1,133,492 $1,055,778 $995,000 133

2010 22

$1,112,877 $1,020,915 $897,500

110

2011 95 2012 34 $984,576 $933,974 $800,000 174 2013 32 $1,102,489 $1,019,953 $917,500 101 2014 34 $1,223,202 $1,150,643 $1,025,000 66 2015 37 $1,296,962 $1,150,641 $1,060,000 67 19 $1,011,431 $940,889 $900,000 2016 28 $1,342,800 $1,166,684 $1,087,500 78 2017 36 $1,386,408 $1,338,125 $1,317,500 65 2018 43 $1,507,689 $1,368,898 $1,350,000 91 2019 23 $1,541,178 $1,360,515 $1,240,000 81 2020 31 $1,880,733 $1,561,669 $1,485,000 33

$2M

$2.8M

$1.5M

$2.1M

$1M

$1.4M

$0.5M

$0.7M

$0M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

Average List Price Median Sale Price

Average Sale Price

bambacepeterson.com

27

bambacepeterson.com

Pacific Grove Market Recap

29

Pacific Grove Overview

50% of sales are below $1M 27% of sales from $1M-$1.4M

Sales volume in Pacific Grove grew 28.7% to $220,492,236 in 2020 from $171,349,655 in 2019. The overall median home price rose 3% in 2020 to $996,250 with the average sales price up 6% to $1,189,878.

Demand in Pacific Grove remains strong and median prices are up 20% since 2016. Primary homeowners favor the Pacific Grove school district and "hometown" feel. That same genuine charm led to increased second home market. The change in the short-term rental (STR) policy at the end of May 2020 resulted in some additional homes on the market but it was swallowed by a backlog of demand.

77 % of sales below $1.4M

2 sales of $3M+ 13

sales from $2M-$3M versus 6 in 2019 and 3 in 2018

The Bambace Peterson Team 831.200.3178

bambacepeterson@compass.com @bambacepeterson DRE 01731448

Pacific Grove Sales

Average List Price

Average Sale Price

Median Sale Price

$1.4M

$1.1M

$0.7M

$0.4M

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Year

# of Sales

Average List Price

Average Sale Price

Median Sale Price

Average DOM

2006

111

$1,023,321

$980,700

$865,000

83

2007

98

$976,752

$925,837

$805,000

105

2008

96

$907,733

$842,474

$675,000

139

2009

117

$769,052

$729,587

$603,750

131

2010

129

$744,755

$699,697

$627,500

88

2011

152

$645,801

$612,356

$541,250

114

2012

195

$653,992

$625,666

$555,000

92

2013

165

$786,223

$764,159

$680,000

61

2014

155

$933,570

$891,033

$734,500

65

2015

166

$929,712

$903,169

$795,500

51

2016

148

$955,972

$933,950

$832,000

54

2017

161

$1,071,761

$1,038,993

$915,000

55

2018

143

$1,115,948

$1,097,717

$925,000

49

2019

153

$1,158,484

$1,119,932

$965,000

60

2020

186

$1,334,868

$1,189,878

$996,250

33

70

64

50

52.5

55

43

40

40

35

29

33

21

28

13

17.5

18

7

2020 2018

2019

14

8

3

6

2

2

3

0

31

Pacific Grove Sales Metrics by Area

Beach Tract, Asilomar, Grove Acre

Downtown, Washington Park, Marino Pines

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

Year

2006 28

$1,100,975 $895,765 $864,000

77

2006 27

$1,520,846 $1,336,556 $1,160,000 96

2007 25

$1,134,756 $971,080 $765,000 132

2007 18

$1,348,309 $1,270,972 $1,080,000 88

2008 26

$915,028 $857,385

$625,000

117

2008 21

$1,444,247 $1,269,805 $1,035,000 144

2009 39

$773,180 $639,305

$571,250

123

2009 28

$1,307,528 $1,127,743 $900,285

148

2010 29

$813,781

$715,948

$595,000

99

2010 32

$1,336,327 $950,656 $792,500

93

2011

37

$717,466 $551,657

$505,000 108

2011 111 2012 39 $1,443,805 $874,924 $744,000 137 2013 36 $1,415,903 $1,135,186 $910,000 55 2014 25 $1,774,571 $1,528,499 $1,070,000 97 2015 46 $1,375,022 $1,219,046 $1,059,000 53 2016 31 $1,454,780 $1,254,298 $1,141,225 77 33 $1,323,220 $892,347 $765,000 2017 30 $1,726,758 $1,518,683 $1,450,000 66 2018 33 $1,613,492 $1,599,606 $1,450,000 57 2019 35 $1,629,114 $1,575,866 $1,270,000 62 2020 35 $1,686,462 $1,612,414 $1,362,500 33

2012 59

$742,002 $611,070 $555,000

87

2013 44

$900,186 $750,280 $650,000

80

2014 50

$858,071

$857,788

$719,250

47

2015 31 50 2016 39 $1,066,862 $883,510 $800,000 66 2017 52 $1,069,688 $1,052,632 $899,000 48 2018 38 $1,140,673 $991,434 $884,500 52 $917,911 $877,065 $749,500 2019 46 $1,173,436 $1,104,293 $900,000 63 2020 53 $1,498,299 $1,279,806 $1,250,000 32

$1.8M

$1.5M

$1.3M

$1.1M

$0.9M

$0.8M

$0.4M

$0.4M

$0M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

Average List Price Median Sale Price

Average Sale Price

bambacepeterson.com

Pacific Grove Sales Metrics by Area

Forest Hill, Country Club, Del Monte Park

Pine, Candy Cane Lane

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

Year

2006 31

$943,510 $941,895

$895,000

77

2006 26

$825,185

$739,058

$710,000

80

2007 35

$970,896 $830,114 $765,000 106

2007 20 $772,090 $726,175

$695,000

86

2008 30

$801,644 $697,830 $625,000 148

2008 18

$650,115

$568,592 $562,500 154

2009 30

$740,892 $599,383 $582,500 141

2009 21

$583,730 $542,452 $520,000 102

2010 43

$652,267

$616,883

$593,675

85

2010 26

$555,500 $517,750 $521,000

73

2011

49

$614,878 $543,078 $520,000

118

2011

32

$514,738

$481,516 $477,000 120

2012 57

$700,704 $612,098

$575,000

68

2012 40 $474,644 $423,500 $417,000

88

2013 54

$801,642

$665,114 $682,500 45

2013 31

$611,328

$525,518

$505,000

69

2014 47

$840,788 $770,493 $739,000

57

2014 33

$680,356 $630,155

$640,000 80

2015 51

$912,996 $802,009 $764,000

64

2015 38

$709,913 $677,854 $650,000

33

2016 54

$925,701

$881,897

$822,000 40

2016 24

$721,268 $719,250 $720,000

38

2017 50 $1,016,231

$933,230 $920,000 46

2017 29

$743,937

$700,659 $685,000

70

2018 44 $1,081,626 $1,001,122 $884,000

51

2018 28

$811,736 $802,236 $825,000

30

2019 43

$981,049 $1,046,977 $920,000

68

2019 29

$850,708 $800,405 $795,000

43

2020 63

$1,107,457 $1,056,488 $937,630

36

2020 35

$895,515

$871,266 $835,000

26

$0.9M

$1.2M

$0.7M

$0.9M

$0.4M

$0.6M

$0.2M

$0.3M

$0M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

Average List Price Median Sale Price

Average Sale Price

33

bambacepeterson.com

Monterey Market Recap

35

Monterey Overview

63% of sales up to $1M 23% median price increase from 2016 98.3% of asking price received of Monterey listings sold in 2020

Monterey is predominantly a primary home market. However an increasing number of buyers for second and retirement homes contributed to a growing median sales price over the past several years. 166 single family homes sold in 2020 with the median price up 12% to $949,000 from $849,500 in 2019. Similarly the average sales price up 14% to $1,101,488 from $888,520 a year earlier. Total sales volume increased 21.5% to $167,741,062. There was another $54,427,925 in condo and town home sales with a median price of $534,500. There were four sales between $2M-$3M with three near Del Monte Beach with ocean views. The traditional neighborhoods of Peter’s Gate, Old Del Monte and Alta Mesa continue to be in demand as the homes are more stately and larger in square footage and lot size.

Cannery Row 111

New Monterey 110

Oldtown 113

Del Monte Beach 124

Downtown 118

Oak Grove 119

Mar Vista 114

Casanova 123

Alta Mesa 117

Monte Vista / Peter’s Gate 116

Deer / Fisherman Flats 121

Skyline 115

Aguajito 120

Monterey Sales

Average List Price

Average Sale Price

Median Sale Price

$1.2M

$0.9M

$0.6M

$0.3M

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Year

# of Sales

Average List Price

Average Sale Price

Median Sale Price

Average DOM

2006

122

$1,044,709

$901,760

$859,500

86

2007

94

$1,042,997

$901,595

$808,750

114

2008

105

$899,417

$718,016

$777,000

113

2009

107

$734,765

$573,513

$660,000

117

2010

118

$689,782

$604,436

$577,000

89

2011

149

$568,493

$524,289

$500,000

124

2012

175

$605,583

$532,383

$522,500

72

2013

196

$714,549

$610,402

$642,000

55

2014

162

$750,067

$678,648

$668,500

63

2015

194

$814,259

$739,236

$699,999

54

2016

163

$879,483

$791,306

$795,000

41

2017

182

$949,615

$844,431

$799,998

52

2018

187

$948,157

$934,154

$857,000

47

2019

156

$1,000,695

$888,520

$849,500

62

2020

166

$1,146,726

$1,010,488

$949,000

39

70

60

62

59

52.5

52

40

49

35

33

18

16

17.5

5

2020 2018

2019

14

3

9

5

3

8

3

4

1

0

0

bambacepeterson.com

37

Monterey Sales Metrics by Area

New Monterey, Cannery Row

Peter's Gate, Alta Mesa, Aguajito, Flats

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

# of Sales

Avg List Price

Avg Sale Price

Median Sale Price

Avg DOM

Year

Year

2006 33

$1,271,374 $1,050,424 $950,000

82

2006 30

$867,668 $829,030 $761,250

87

2007 22

$1,287,224 $1,139,824 $1,025,000 132

2007 22

$777,189 $712,081

$726,500

88

2008 28

$1,118,483 $902,675 $892,500 99

2008 19

$692,715 $599,579 $579,000

99

2009 22

$929,436 $758,841

$766,750

122

2009 20

$558,183 $477,495 $488,450 175

2010 40

$831,534 $717,213

$645,000

93

2010 23

$544,400 $478,652 $465,000

75

2011

41

$722,915 $642,033 $540,000 152

2011

35

$477,779 $437,127

$440,000 130

2012 41

$796,356 $662,023 $625,000

56

2012 47

$518,660 $464,528 $449,000

77

2013 48

$846,140 $722,168

$648,897

57

2013 36

$599,853 $552,236 $527,000

47

2014 45

$917,335

$791,956 $710,000

58

2014 35

$626,859 $603,886 $600,000 80

2015 53 $1,001,859 $893,045 $793,500

48

2015 46

$676,919 $595,704 $591,000

62

2016 47

$1,057,596 $946,896 $845,000

58

2016 45

$749,508

$726,811

$718,000

27

2017 57

$1,186,457 $1,010,997

$887,862

61

2017 45

$787,421

$761,050 $749,000

45

2018 57

$1,147,370 $1,082,957 $1,000,000 52

2018 35

$821,662 $798,953 $769,000

34

2019 52 72 2020 56 $1,339,667 $1,119,752 $1,005,000 48 $1,183,416 $1,074,115 $920,000

2019 31

$826,942 $772,652 $745,000

58

2020 29 $1,028,147 $836,234 $835,000

34

$1.4M

$1.1M

$1.1M

$0.8M

$0.7M

$0.5M

$0.4M

$0.3M

$0M

$0M

2006 2008 2010 2012 2014 2016 2018 2020

2006 2008 2010 2012 2014 2016 2018 2020

Average List Price Median Sale Price

Average Sale Price

Average List Price Median Sale Price

Average Sale Price

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62

www.bambacepeterson.com

Made with FlippingBook - professional solution for displaying marketing and sales documents online