Q1 2020 Update

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Hi Everyone,

We hope you are all staying safe. Real estate is still moving here and prices seem to be holding for the most part. For sure, less new listings; but we are seeing a fair amount of new escrows proportionate to those new listings.

Here is a quick update from our main Peninsula office for you all: No one will be able to fully predict the effect the coronavirus pandemic will have on the real estate market, but at Sotheby’s International Realty, the health and safety of our agents, clients, employees and community is our #1 priority.

We invite you to review a summary of sales activity in the Monterey Peninsula during the first quarter of 2020, based on closed production from January – March 2020, much of which went into contract before the onset of the coronavirus pandemic. The MLS reports the following market data for this quarter, which is compared here for the same period of 2019.

Heading into the second quarter of 2020, here were a few positive things in the Monterey Peninsula housing market:

The average sales price in Monterey County was up 21.8% The average sales price in Carmel was up 45.4% The average sales price in Pebble Beach was up 16.4% The average sales price in the city of Pacific Grove was up 35.1% Carmel Valley’s average sales price remained relatively flat.

Real estate is all about location, location, location and location is our local community. Here are a few ways which you can help and ways our local brokerage is helping the community:

Donating face masks and gloves to medical facilities Doing wellness checks and grocery shopping for seniors Contributing to Meals on Wheels of the Monterey Peninsula, Inc. Donating to the Food Bank for Monterey Peninsula Helping the Salvation Army.

During this unprecedented time, we are continuing to represent clients who want or need to sell a home and our local teams are working hard continuing to conduct the business of real estate. We are committed to providing the highest quality service and will to continue to support our buyers and sellers using state-of-the-art technology and a suite of virtual marketing tools which make it easy to view and experience the finest real estate in the world from the safety of one’s home.

Click the button below to view the Q1 statistics that I hope that sheds new light on things. Again, we are still operating and taking new listings or buyers. Please call me with any questions at all.

All our best,
The Ryan Melcher Properties Team

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