Monterey Housing Market Report – July 2026
Here's a look at how the Monterey, CA real estate market performed in July 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 28
- Median Sale Price: $1,150,000
- Average Sale Price: $1,261,698
- Average Price Per Sq Ft: $764
- Average Days on Market: 125
- Sale-to-List Price Ratio: 99.1%
Month-Over-Month Trends
Compared to June, the median sale price in Monterey moved 3.8% down (from $1,195,000 to $1,150,000). The number of homes sold was 9.7% down compared to the prior month (31 vs. 28). Average days on market shifted 73.6% up (72 days to 125 days).
Year-Over-Year Comparison
Compared to July 2025, the median sale price is 7.5% down (from $1,243,500 to $1,150,000). Sales volume is 27.3% up year-over-year.
What This Means
Monterey's housing market is showing signs of cooling as we move through summer 2026. The median sale price dipped 3.8% month-over-month to $1.15 million, continuing a downward trajectory that's down 7.5% year-over-year. More telling is the jump in average days on market, which nearly doubled from 72 to 125 days—a significant shift suggesting homes are taking considerably longer to find buyers. This extended selling timeline typically indicates softening demand or an oversupply relative to buyer interest, despite sellers maintaining reasonable pricing discipline at 99.1% of list price.
The inventory picture underscores this slowdown. With 105 active listings on the market, supply is building while sales momentum fades. The mix remains heavily weighted toward single-family homes, which makes up the majority of activity. Interest rates and seasonal summer patterns likely play a role here, as July often sees reduced buyer activity in coastal markets as families settle into vacation plans.
For sellers, this environment requires patience and realistic pricing. For buyers, the extended DOM and growing inventory suggest negotiating room has returned after years of aggressive competition. The market isn't in crisis, but it's decidedly favoring careful strategy over rushed decisions.
Monterey Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 93940 | 28 | $1,150,000 | $764 | 125 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 18 | $1,350,000 | $780 |
| CONDOS | 7 | $600,000 | $762 |
| LAND | 1 | $1,150,000 | N/A |
| MULTI_FAMILY | 1 | $1,550,000 | $694 |
| OTHER | 1 | $1,095,000 | $553 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| $400K - $499K | 1 |
| $500K - $749K | 3 |
| $750K+ | 24 |
Current Active Listings
As of this report, there are 105 active listings in Monterey with a median asking price of $1,195,000 and an average of 108 days on market.
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