Monterey, CA Housing Market
Median List Price
$1,158,000
Updated August 2026
Today, Monterey has 57 homes for sale at a median list price of $1,158,000, typically selling in about 85 days.
Monterey Market Analysis
The median list price in Monterey, CA is $1.2M. Current inventory stands at 57 active listings. 10 new listings came on the market in the last 30 days.
Expect a median around $455,000 for one bedroom homes and $2.4M at the four bedroom end. Single family homes lead the mix at 57.9%, with condos accounting for another 36.8%. February to July saw the median price go from $850,000 to $1.1M, up about 29.4%. On a per square foot basis, the median runs $750.
Homes here typically go under contract in about 13 days. Homes move quickly at that pace, which favors sellers and rewards buyers who come prepared. Monterey, CA sits within the 93940 ZIP code.
Monterey Rental Market
The median asking rent in Monterey, CA is $5,500. Current inventory stands at 4 active rental listings.
Monterey Market Pulse
Topfind Market Read
The picture is mixed here. Selling times have improved 50% versus six months ago, yet the typical home takes about 85 days to sell, and 60% of sellers have trimmed their asking price, so neither side holds a clear advantage. Realistic pricing wins for sellers, and patient, prepared buyers can secure fair terms.
Median Home Price
$1.16M
↓ 17% over the past yearChart shows the median closed sale price by month
Months of Supply
Estimated time to sell all listings at the current sales pace
3.2 months of supply
Balanced Supply57 active listings currently on the market.
What this means for buyers
Supply and demand are roughly in step, with a steady flow of options and no glut. Listings typically sell in ~85 days.
Sales Velocity
How fast homes are selling
Homes are sitting on the market, so buyers often have strong leverage to negotiate price, terms, and repairs. The trend is moving the other way though, with selling times down 50% over the last six months.
Inventory Distribution
A larger share of listings has been up beyond 30 days, which typically means more room to negotiate on those longer-listed homes.
Housing Tenure in Monterey
Renting is more common here than statewide, so this market has more rental inventory and shorter-term residents.
38%
Homeowners
62%
Renters
Homeownership is 17.5 points lower than the California average (55.5%)
12,420 households (2023)
Median Price by Bedroom
Home prices generally rise with bedroom count, though not every step adds value.
Each additional bedroom adds about $444K in value on average, with larger homes seeing bigger price jumps.
Largest increase: 3 → 4 bedrooms (+$1.6M)
Price Reductions
34 listings have reduced their price
60% of active listings
Average reduction: 7.8% (~$90K)
Browse Monterey Listings
Frequently Asked Questions about the Monterey, CA Housing Market
What is the median home price in Monterey, CA?
The median list price in Monterey is $1,158,000 as of August 2026, based on 57 active listings.
Is Monterey a buyer's market or a seller's market?
Monterey currently reads as a balanced market. Active inventory works out to about 3.2 months of supply at the recent sales pace.
How fast do homes sell in Monterey?
Homes that closed in the last 90 days typically went under contract in about 13 days. The average home currently for sale has been on the market for 85 days.
Are home prices in Monterey going up or down?
The median sale price in Monterey is down about 17.5% compared with a year ago.
How many homes are for sale in Monterey, CA?
There are 57 homes for sale in Monterey right now, including 3 listed within the last week.
What is the median rent in Monterey?
The median asking rent in Monterey is $5,500 per month, across 4 active rental listings.