Here's a quick summary of our local market:
Inventory is at an all time low. We are tracking about 61% behind August 2019 listings in the area I monitor
Prices are at an all time high and things keep on moving upward
Buyers are facing stiff competition when making offers
Multiple offers continue to there appears to be a cool down on offerings. A very desirable property may get 3-4 offers. A few months ago, you might have seen 6-8 offers
Monterey County as a whole:
There are only 334 houses for sale in Monterey County
Days on Market remains low: June - 28 days, July- 21 days
Average Price: $3,401,244
Average Price per Foot: $1036
August marks the peak of inventory for the year. Listings slow down as we head towards the holidays so we'll see what happens in the next couple of months. It's an interesting time!