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Q2 2024 Market Report

The sun is shining, town is bustling, and so is the real estate market!
 

Although Q1 had some of the quietest months we've seen in years, March marked the beginning of a measurable recovery that has continued throughout the second quarter.

 

Across the Monterey Peninsula, there were 266 new sales, a 39% increase from Q1 of this year and an 8% rise from Q2 2023. Sales prices remained robust, averaging $2.275 million, up 9% quarter-over-quarter and 6% year-over-year. The $570 million spent on real estate this quarter also represents the highest volume since Q2 2022!

 

Heading into Q3, there were 323 active listings—the most inventory to end a quarter since Q3 2020—suggesting another healthy quarter ahead. However, political uncertainty, changes to real estate practices due to the NAR Settlement, and an anticipated rate cut will all contribute to a dynamic Q3.

 

As buyers are now required to sign representation agreements, your referrals are more valuable than ever! Please let me know how I can assist you or if you have any questions about our market.

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For a more detailed look at how the nine markets across the Monterey Peninsula fared in Q2 2024, click below.

 HIGHLIGHTS

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BY SALES VOLUME

#3 small team

In Carmel

2021

According to Real Trends
and as advertised in the Wall Street Journal

BY SALES VOLUME

#3 Individual

Across The Monterey Peninsula

2022

According to Real Trends
and as advertised in the Wall Street Journal

BY SALES VOLUME

Top 10 Team

Across The Monterey Peninsula

2023

According to Real Trends
and as advertised in the Wall Street Journal
Real Estate Services (5).png

Devon Meeker

(650) 759 4193
devon
@devonmeeker.com
DRE#02074131

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Dolores Street between 7th & 8th

PO Drawer C

Carmel-by-the-Sea, CA 93921

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© 2022 DEVON MEEKER REALTY

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