Home Values

Pacific Grove Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$716,300

  • 5.6% 1-year change
  • 2.4% 1-year forecast

The median home value in Pacific Grove is $716,300. Pacific Grove home values have gone up 5.6% over the past year and Zillow predicts they will rise 2.4% within the next year. The median list price per square foot in Pacific Grove is $558, which is higher than the Salinas Metro average of $375. The median price of homes currently listed in Pacific Grove is $795,000 while the median price of homes that sold is $712,692.

Foreclosures will be a factor impacting home values in the next several years. In Pacific Grove 2.0 homes are foreclosed (per 10,000). This is lower than the Salinas Metro value of 2.5 and also lower than the national value of 4.5

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 Pacific Grove is 9.0%, which is higher than the national value of 6.9%. 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 Pacific Grove homeowners underwater on their mortgage is 5.8%, which is lower than Salinas Metro at 17.5%.

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Relative ZHVI
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Pacific Grove Market Overview

Data through Oct 31, 2014
  • $716,300 ZHVI
  • 2.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $795,000 Median listing price
  • No recent data Median sale price
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Pacific Grove Market Health

Data through Oct 31, 2014
  • 6.6/10 Healthy
    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.
  • No data Average days on Zillow
  • 5.8% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 9.0% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2 homes Pacific Grove
2.5 homes Salinas Metro
4.5 homes United States
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Nearby Cities

Name Median ZHVI
Del Monte Forest $1,683,100
Carmel $1,203,700
Monterey $634,100
Name Median ZHVI
Del Rey Oaks $462,200
Marina $415,800
Seaside $376,100

Listings & Sales

Data through Oct 31, 2014
  • $558 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 36.4% Listings with price cut
21.7%
Sold below listing
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Pacific Grove Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $2,437 Pacific Grove
    $2,013 Salinas Metro
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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