Monterey, CA Market Trends Report for September 2008

Monterey, CA sales, median price and average price September 08

The city of Monterey has been following the rest of the Monterey Peninsula trends with sales increasing slightly over the past several months and average and median prices falling. The increase in inventory means there are great properties to choose from and buyers are starting to take advantage.

We are seeing a larger percentage of distressed sales in Monterey than in the recent past which is the driving factor on these numbers. Most impacted by the current market is the northern portion of the city where we are seeing more foreclosures and short sales. If you compare Monterey's numbers with the county numbers, you will see that is is in no way impacted at the same rate as Salinas and the more rural parts of the county.

The Monterey Peninsula remains a great place to invest and to keep your money relatively safe in the long term over other areas of Califiornia or even the stock market! If you always wanted your vacation property in Monterey, now is a great time to buy!