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

$424,900

  • 7.6% 1-year change
  • 4.5% 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 $424,900. Salinas Metro home values have gone up 7.6% over the past year and Zillow predicts they will rise 4.5% within the next year. The median list price per square foot in Salinas Metro is $397, which is higher than the California average of $243. The median price of homes currently listed in Salinas Metro is $675,000 while the median price of homes that sold is $430,000. The median rent price in Salinas Metro is $1,800, which is lower than the California median of $1,975.

Foreclosures will be a factor impacting home values in the next several years. In Salinas Metro 2.9 homes are foreclosed (per 10,000). This is greater than the California value of 2.6 and also lower than the national value of 3.9

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 5.2%, which is lower than the national value of 6.3%. 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 14.2%, which is higher than California at 11.6%.

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Relative ZHVI
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Salinas Metro Market Overview

Data through Feb 28, 2015
  • $424,900 ZHVI
  • 4.5% 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
    (Feb 29, 2016)
  • $675,000 Median listing price
  • $430,000 Median sale price
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Salinas Metro Market Health

Data through Feb 28, 2015
  • 8.0/10 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.
  • No data Average days on Zillow
  • 14.2% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 5.2% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

2.9 homes Salinas Metro
2.6 homes California
3.9 homes United States
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Cities in Salinas Metro

Name Median ZHVI
Pacific Grove $703,800
Monterey $682,300
Marina $419,600
Name Median ZHVI
Watsonville $381,600
Seaside $364,100
Salinas $315,600
Name Median ZHVI
Soledad $223,600
King City $172,200
Greenfield $168,100

Listings & Sales

Data through Feb 28, 2015
  • $397 Median list price / sq ft
  • $303 Median sale price / sq ft
  • 7.7% Listings with price cut
11.5%
Sold below listing
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Salinas Metro Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $2,057 Salinas Metro
    $2,212 California
    $1,355 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)
  • $1,800 Rent list price
  • $1.66 Rent list price / sq ft
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