Pacific Grove Housing Market Report – May 2026
Here's a look at how the Pacific Grove, CA real estate market performed in May 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 23
- Median Sale Price: $1,285,000
- Average Sale Price: $1,603,109
- Average Price Per Sq Ft: $1,198
- Average Days on Market: 59
- Sale-to-List Price Ratio: 100.9%
Month-Over-Month Trends
Compared to April, the median sale price in Pacific Grove moved 23.9% down (from $1,687,500 to $1,285,000). The number of homes sold was 130.0% up compared to the prior month (10 vs. 23). Average days on market shifted 10.6% down (66 days to 59 days).
Year-Over-Year Comparison
Compared to May 2025, the median sale price is 21.9% down (from $1,645,000 to $1,285,000). Sales volume is 64.3% up year-over-year.
What This Means
Pacific Grove's housing market is showing some interesting crosscurrents this May. While sales volume jumped dramatically—nearly doubling from April and up 64% year-over-year—we should take that with a grain of salt due to improved data collection. The more telling story is in pricing: the median dropped 23.9% month-over-month and 21.9% year-over-year, suggesting sellers are adjusting expectations downward in a softening market. However, homes are moving faster, with days on market shrinking to 59 from 66 days, and buyers are actually getting slight discounts with the sale-to-list ratio hitting 100.9%.
This looks like a market finding its footing after a period of adjustment. The faster sales velocity combined with lower prices suggests there's genuine buyer interest once homes are priced realistically. That said, the 38 active listings with a median asking price of $1,725,000 tells us sellers haven't fully caught up to the new reality—they're still asking roughly $440,000 more than what homes are actually selling for. With typical inventory sitting around two months, Pacific Grove isn't tight, giving buyers meaningful negotiating power in this seaside community.
Pacific Grove Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 93950 | 23 | $1,285,000 | $1,198 | 59 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 20 | $1,267,500 | $1,281 |
| CONDOS | 1 | $1,150,000 | $773 |
| OTHER | 1 | $2,225,000 | $386 |
| TOWNHOMES | 1 | $1,300,000 | $782 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| $750K+ | 23 |
Current Active Listings
As of this report, there are 38 active listings in Pacific Grove with a median asking price of $1,725,000 and an average of 82 days on market.
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