James Frangella, Monterey, Carmel, Pacific Grove real estate specialist
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WE'LL BE FINE IN 2009!**


By James Frangella
Written on 03/28/2009 @ 6:00am

Here we are and the first quarter of 2009 is over. Let’s take a look at where the numbers are as of today. But first, let’s gander at the numbers from last year: click HERE to review the total number of units sold for the last ten years. You’ll note that one city on the Peninsula had a record year in 2008 and some of the others sold more than the gloom doom years of 2006 and 2007.

So … what’s in store for 2009? As of today, with current sales figures for the first three months of this year, we are projected to have more units sold than in 2008. Not bad at all! It could be worse … mortgage interest rates could skyrocket or the government could take away the $8,000 credit for first-time home buyers or even worse, rich folks would stop buying homes in quaint Carmel! By the way, I call this "The Closer to Heaven” approach in real estate sales and I’ll write about this concept in the near future.

Looking good so far but you’re asking, “What about those prices?” I knew you would ask. Pat Matuszewski of Keller Williams Realty has compiled a table of stats to show the average selling price of Peninsula single family dwellings for the last ten years. Click HERE to check those numbers out.

How about that Carmel? Isn’t she sweet? The average sale price hasn’t really fluctuated much since 2005 … not like poor little Seaside. Yikes! She’s taking it in the shorts. But let’s not feel too sorry for Seaside. This community of affordable homes was the leader of the pack in total units sold for 2008 and surpassing everybody in 2009. As a matter of fact, let’s take a peek at the total sales volume of the Peninsula’s single family homes for the first quarter.

In number one position: Carmel-By-The-Sea scoring with a knock-out punch of $56.9 million. Number two is Pebble Beach struggling in the early rounds to catch up at $22.6 million. Finally, in third place with an astounding performance in the last round, Seaside at $20.8 million!!

By the way, in last place lying face-first on the canvas barely conscious is Monterey at a piddly $5.6 million. Our historic first capital of California is also not looking too promising in the average sale price category either. She hasn’t seen prices like that since 1999.

Now that we got that out of the way, how about units sold? Guess who had 64 units sold as of March 26? And yes, it’s Seaside kicking butt all the way and smothering her opponents with lefts and rights. Marina is at 41 units and the Number One heavyweight champion coming in at 31 units. The ring doctor hasn’t yet even arrived for Monterey either. She’s still kissing the canvas at 12 units.

The stats were updated as of the first Friday in April and the first quarter of 2009 is under wraps. Is the trend for 2009 already established? How many more houses will be sold? What will be the average selling price for a Peninsula home by year’s end?

Stay tuned … it’s going to be an exciting year in real estate sales on the beautiful Monterey Peninsula.


** Thanks to K.K. Roberts of William Smith's Team at Coldwell Banker for this title.  Probably should ask her permission to use it.  I'll email her right now.