Monterey County Home Prices & Values

$406,300 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 17.6% 1-year change
  • 9.1% 1-year forecast

The median home value in Monterey County is $406,300. Monterey County home values have gone up 17.6% over the past year and Zillow predicts they will rise 9.1% within the next year. The median list price per square foot in Monterey County is $408, which is the same as the Salinas Metro average of $408. The median price of homes currently listed in Monterey County is $729,500 while the median price of homes that sold is $429,000. The median rent price in Monterey County is $1,625, which is the same as the Salinas Metro median of $1,625.

Foreclosures will be a factor impacting home values in the next several years. In Monterey County 1.8 homes are foreclosed (per 10,000). This is the same as the Salinas Metro value of 1.8 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Monterey County is 6.4%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Monterey County homeowners underwater on their mortgage is 20.4%, which is the same as Salinas Metro at 20.4%.

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Relative ZHVI
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Monterey County Market Overview

Data through Jun 30, 2014
  • $406,300 ZHVI
  • 9.1% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $729,500 Median listing price
  • $429,000 Median sale price
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Monterey County Market Health

Data through Jun 30, 2014
  • 7.2/10 Healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • 78 Average of days on Zillow (May 31, 2014)
  • 20.4% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 6.4% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

1.8 homes Monterey County
1.8 homes Salinas Metro
4.3 homes United States
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Cities in Monterey County

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Carmel $1,187,700 Carmel Valley $845,100 Monterey $659,900
Bradley $394,700 Salinas $321,500 Gonzales $235,600
Soledad $232,600 King City $181,700 Greenfield $178,600

Listings & Sales

Data through Jun 30, 2014
  • $408 Median list price / sq ft
  • $280 Median sale price / sq ft
  • 23.5% Listings with price cut
17.6%
Sold below listing
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Monterey County Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,978 Monterey County
$1,978 Salinas Metro
$1,310 United States
  • 3.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,625 Rent list price
  • $1.50 Rent list price / sq ft
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