Monterey Peninsula Market Report: Data Through August 31, 2026
One Peninsula, Two Very Different Markets
Monterey and Pacific Grove are moving at seller's-market speed. Carmel-by-the-Sea, Carmel, and Pebble Beach are giving buyers something they haven't had in years: time. Here's what the numbers actually show, town by town.
Search "Monterey Peninsula real estate market" and you'll find a dozen posts quoting a single county-wide median, as if Carmel and Monterey were interchangeable. They're not. Pulled directly from August 2026 MLS activity, the data below shows two distinct markets operating five miles apart, and understanding which one your address sits in changes everything about pricing strategy, timeline, and negotiating leverage.
The Fast Lane
Monterey & Pacific Grove
Both markets are tight, liquid, and moving at a pace not seen elsewhere on the Peninsula this year. Inventory is thin, days on market are short, and sellers who price accurately are being rewarded with near-full asking price.
Monterey
Pacific Grove
The median price dip in both towns is a mix shift, not a discount: fewer high-end closings this August pulled the median down even as competition for well-priced listings intensified. With under 3.5 months of supply in either market, this is decisively seller-favorable territory: a property priced to the current market, in good condition, is a multiple-offer candidate, not a listing that needs three price reductions to find its buyer.
The Long Game
Carmel-by-the-Sea, Carmel & Pebble Beach
Here the story inverts. Headline prices are still up year-over-year in every one of these three markets, but sales volume has fallen sharply, and inventory is piling up faster than it's being absorbed. That combination is the clearest signal in real estate that list prices haven't yet caught up to where buyers actually are.
Carmel-by-the-Sea (93921)
With only 3 closings in August, this median moves 20–40% on a single estate sale. Treat the price trend as directional, not precise.
Carmel
Pebble Beach
The Peninsula at a Glance
2.8Monterey3.1Pacific Grove4.0Carmel-by-the-Sea8.1Carmel11.8Pebble Beach
$1.20MMonterey$1.16MPacific Grove$3.24MCarmel-by-the-Sea$2.01MCarmel$2.82MPebble Beach
The Full Picture
Market | Median Price | Days on Mkt | Months Supply | Sale/List | YoY Sales |
|---|---|---|---|---|---|
Monterey | $1,197,500 | 52 | 2.8 | 96.1% | +8.3% |
Pacific Grove | $1,157,000 | 51 | 3.1 | 95.6% | 0% |
Carmel-by-the-Sea | $3,240,000 | 51 | 4.0 | 89.4% | −62.5% |
Carmel | $2,010,000 | 71 | 8.1 | 90.6% | −29.0% |
Pebble Beach | $2,815,968 | 59 | 11.8 | 93.4% | −61.5% |
What This Means If You're Buying or Selling
Selling in Monterey or Pacific Grove: price to today's comparables, not last spring's. Under 3.5 months of supply means a well-presented, accurately priced home is still drawing real competition, but overpricing here costs you the multiple-offer window entirely, not just a few weeks.
Selling in Carmel-by-the-Sea, Carmel, or Pebble Beach: the market is telling you something list prices haven't caught up to yet. With 8 to nearly 12 months of standing supply, the properties that are moving are the ones priced for where buyers are, not where the neighbor's listing was a year ago. Fresh, sharp pricing at launch outperforms a slow slide down from an aspirational number.
Buying in Carmel-by-the-Sea, Carmel, or Pebble Beach: this is the most leverage buyers have had in these three markets in years. Longer days on market and sale-to-list ratios in the high 80s to low 90s mean there's real room to negotiate: on price, terms, and timeline.
Buying in Monterey or Pacific Grove: come prepared to move. Financing pre-approval, a clean offer, and a fast decision matter more here than anywhere else on the Peninsula right now.
Considering a move on the Peninsula?
Every one of these five markets requires a different strategy, and the data changes month to month. If you'd like a current, address-specific read on your street or neighborhood, I'm happy to put one together.
