Q3 2026 Market Update

The Monterey Peninsula carried its spring momentum through the summer. In total, 289 homes closed across the Peninsula in Q3 — just shy of Q2's busy pace, up 9% from a year ago, and the most third-quarter sales since 2021! Total sales volume hit $573M, up 8% year over year and the strongest third quarter since 2021, while the average sales price held steady at $2.3M – a 1% change from last quarter and up 8% from a year ago.

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The luxury market led the headlines again. Pebble Beach recorded a $24M closing — its third straight quarter with at least one sale above $20M — and its third consecutive quarter above $100M in volume. In Carmel-by-the-Sea, a $15.5M sale helped lift the average price to $4.8M, the highest average since Q4 2024, while Greater Carmel led the Peninsula with $112M in volume. Beyond the trophy properties, Monterey had its busiest quarter since Q1 2022, Carmel Valley posted its strongest dollar volume in more than three years, and Seaside's average price topped $1M for the first time since Q2 2024.

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Meanwhile, buyers became more deliberate. Days on market lengthened to 65 from 55 last quarter, price reductions rose to 245 — the most of any quarter since we began tracking them in 2020 — and sellers averaged 97% of list price. 385 new listings came to market, down from Q2's surge of 466 but on par with a year ago, keeping selection healthy. The familiar pattern held: well-priced homes drew strong interest and often sold at or above asking, while homes priced ahead of the market sat longer and negotiated harder.

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Looking ahead to the close of 2026, the Peninsula enters fall with solid demand, steady pricing, and more room for negotiation than this spring. For Sellers,pricing and presentation matter more than ever -- and for Buyers, patience and preparation can certainly pay off.

Navigating each micro-market with strategy and care is precisely the work I love most. If you or someone you know is curious about the market or contemplating a move, I would be honored to help in the next chapter!

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