93940 Housing Market
Median List Price
$1,150,000
Updated August 2026
Today, the 93940 ZIP code in Monterey, CA has 62 homes for sale at a median list price of $1,150,000, typically selling in about 84 days.
93940 Housing Market Overview
Buyers in the 93940 ZIP code are looking at a median list price of $1.1M. Compared with Monterey overall, that is a 3.8% discount. Since February, the median price has moved up about 28.7% to $1.1M as of July. The 93940 ZIP code has 62 active listings on the market right now.
93940 Area Market Pulse
Topfind Market Read
The picture is mixed here. Selling times have improved 46% versus six months ago, yet the typical home takes about 84 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
$1.15M
↓ 21% 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
3.3 months of supply
Balanced Supply62 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 ~84 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 46% 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 93940 Area
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 $440K in value on average, with larger homes seeing bigger price jumps.
Largest increase: 3 → 4 bedrooms (+$1.7M)
Price Reductions
37 listings have reduced their price
60% of active listings
Average reduction: 7.8% (~$90K)
Browse 93940 Listings
Frequently Asked Questions about the 93940 Housing Market
What is the median home price in the 93940 ZIP code?
The median list price in the 93940 ZIP code is $1,150,000 as of August 2026, based on 62 active listings.
Is the 93940 ZIP code a buyer's market or a seller's market?
The 93940 ZIP code currently reads as a buyer's market. Active inventory works out to about 3.3 months of supply at the recent sales pace.
How fast do homes sell in the 93940 ZIP code?
The average home currently for sale in the 93940 ZIP code has been on the market for 84 days.
Are home prices in the 93940 ZIP code going up or down?
The median sale price in the 93940 ZIP code is down about 21.1% compared with a year ago.
How many homes are for sale in the 93940 ZIP code?
There are 62 homes for sale in the 93940 ZIP code right now, including 3 listed within the last week.