Where is the Monterey Condo market going in 2010

To predict the future we must first look to the past.

There were a total of Forty-three units that sold in Monterey in 2009.

• $165,000-$250,000 = 12
• $300,000-$400,000 = 13
• $400,000-$500,000 = 6
• $500,000-$600,000 = 8
• $600,000-$800,000 = 4

As you can see the lower-end dominated the 2009 market place.

Currently there are 30 units on the market and 9 units in escrow.

• $60,000-$250,000 = 11 Active 3 pending
• $250,000-$400,000 = 14 Active 5 pending
• $400,000-$500,000 = 3 Active
• $500,000-$600,000 = 8 Active 1 pending
• $600,000-$700,000 = 2 Active
• Over 2 Millon = 1 Active

So what do these numbers show us.....the lower-end is still driving the market place. As the low-end's inventory slips away we will start seeing the middle range move more. I think the upper-end is going to take a while to start moving; possibly the end of 2010 but it may not really start moving until 2011.

I can't really predict the future (if only I had a crystal ball) but I do think that the market is steady and will remain stready in 2010.