Is Pacific Grove, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Pacific Grove has remained a Seller's Market.
Housing Prices in Pacific Grove, CA
How much do homes in Pacific Grove, CA cost?
Median Sold Price
$1,437,075
$1,071/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Pacific Grove was $1,437,075 in May 2024, up 1.9% from last year, and the median price per square foot was $1,071.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $895K | $1.3M | +46.6% |
2 Bedrooms | $1.1M | $1.2M | +8.7% |
3 Bedrooms | $1.3M | $1.4M | 0.4% |
4 Bedrooms | $1.8M | $2.1M | +17.9% |
5+ Bedrooms | $1.8M | $2.0M | +13.0% |
Summary: Pacific Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.6%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
Seaside-Monterey | $1.0M | $1.0M | +5.5% |
Monterey | $1.0M | $1.0M | +2.9% |
Pacific Grove | $1.4M | $1.4M | +1.9% |
Pebble Beach | $2.7M | $2.7M | 0.3% |
Housing Supply in Pacific Grove, CA
How many homes are available in Pacific Grove, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 45 | +18.4% |
Summary: The Pacific Grove real estate market had 45 homes for sale in May 2024, a 18.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 14 | 14 | 0.0% |
3 Bedrooms | 12 | 16 | +33.3% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Pacific Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 15 | +114.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Pacific Grove in May 2024, up by 114.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for Pacific Grove, CA
How long does it take to sell a home in Pacific Grove, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 55 Days | +94.4% |
Summary: Homes in Pacific Grove had an average of 55 days on market in May 2024, up by 94.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Pacific Grove; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.