Home Values

Salinas Metro 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

$423,900

  • 12.2% 1-year change
  • 4.4% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Very Hot

Buyers' Market
Sellers' Market

The median home value in Salinas Metro is $423,900. Salinas Metro home values have gone up 12.2% over the past year and Zillow predicts they will rise 4.4% within the next year. The median list price per square foot in Salinas Metro is $369, which is higher than the California average of $242. The median price of homes currently listed in Salinas Metro is $620,000 while the median price of homes that sold is $432,800. The median rent price in Salinas Metro is $1,795, which is lower than the California median of $1,900.

Foreclosures will be a factor impacting home values in the next several years. In Salinas Metro 2.1 homes are foreclosed (per 10,000). This is lower than the California value of 2.6 and also lower than the national value of 4.2

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 Salinas Metro is 5.9%, which is lower than the national value of 6.4%. 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 Salinas Metro homeowners underwater on their mortgage is 16.1%, which is higher than California at 12.6%.

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Relative ZHVI
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Salinas Metro Market Overview

Data through Nov 30, 2014
  • $423,900 ZHVI
  • 4.4% 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
    (Nov 30, 2015)
  • $620,000 Median listing price
  • $432,800 Median sale price
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Salinas Metro Market Health

Data through Nov 30, 2014
  • 7.7/10 Very 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.
  • 76 Average days on Zillow (Oct 31, 2014)
  • 16.1% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 5.9% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

2.1 homes Salinas Metro
2.6 homes California
4.2 homes United States
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Cities in Salinas Metro

Name Median ZHVI
Carmel $1,220,200
Pacific Grove $725,800
Monterey $638,300
Name Median ZHVI
Watsonville $428,600
Marina $418,200
Seaside $378,700
Name Median ZHVI
Salinas $358,000
Soledad $257,200
Greenfield $201,700

Listings & Sales

Data through Nov 30, 2014
  • $369 Median list price / sq ft
  • $286 Median sale price / sq ft
  • No data Listings with price cut
13.4%
Sold below listing
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Salinas Metro Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $2,023 Salinas Metro
    $2,177 California
    $1,342 United States

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

  • 1.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,795 Rent list price
  • $1.63 Rent list price / sq ft
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