Carmel-by-the-Sea & Carmel Point ◆ Greater Carmel ◆ Carmel Valley ◆ Pebble Beach
Carmel Highlands, Big Sur & South Coast ◆ Pacific Grove ◆ Monterey & Del Rey Oaks
Corral de Tierra
Rare Opportunity for a New Build on Carmel Point
507 Aguajito Road, Carmel
SP: $4,200,000 | Represented Buyer
540 Aguajito Road
SP: $2,225,000 | Represented Seller
Monte Verde 3 SW 4th, Carmel-by-the-Sea
SP: $2,650,000 | Represented Buyer
80 Hacienda, Carmel
SP: $795,000 | Represented Buyer
Dear Friends,
The Monterey Peninsula real estate market gained considerable momentum during the second quarter of 2026. Perhaps the most encouraging aspect of the quarter was that activity strengthened even as buyers were presented with more choices. Inventory increased, yet homes sold more quickly than they did during the first quarter, with average days on market declining from 60 to 55 days. This point to a healthy and increasingly active market, although results continue to vary significantly by location, price point and property condition.
We are also seeing changes in the composition of the buyer pool. Bay Area buyers remain an essential source of demand, and we have noticed increasing interest from out-of-state buyers, particularly those coming from Texas and Florida who are drawn to the Peninsula’s golf communities, natural beauty and coastal lifestyle.
Despite the strong overall numbers, this remains a highly nuanced market. Buyers have more inventory to consider and are carefully evaluating value, condition and location. For sellers, thoughtful preparation and accurate pricing remain essential. The properties generating the strongest interest are those that are well presented, properly positioned and compelling relative to their competition.
The following report provides a detailed review of activity throughout the Monterey Peninsula. Please reach out at any time if you would like to discuss what these trends mean for your property or your real estate plans.
Scenic Road ■ SP: $13,000,000 ■ Represented Buyer & Seller Santa Fe 3 SW of Mt. View ■ SP: $5,650,000 ■ Rep. Buyer & Seller
Rendering
Q2 2026 Market Overview
Summer is one of the most exciting times of year on the Peninsula. The season truly showcases the exceptional lifestyle that makes this region such a sought-after place to call home.
The real estate market was very strong through the first half of 2026. Buyers and sellers remain thoughtful in their decision-making, yet the enduring appeal of our coastal communities, combined with limited inventory and strong long-term value, continues to support a healthy market. As always, Carmel Realty Company remains committed to providing the local expertise and trusted guidance our clients rely on through every stage of the buying and selling process.
The second quarter was very impressive overall with 317 properties being sold across the nine markets we track—a nearly 30% increase in the number of sales over the first quarter and a 14% gain compared to the same period last year. Sales dollar volume also climbed more than 34%, fueled by renewed strength in the luxury segment and a growing number of high-value transactions. Pebble Beach recorded its highest quarterly sales volume since early 2022, and the number of sales above $5 million has already matched the total for all of 2025. Carmel-by-theSea also posted its strongest quarter since 2023, with 35 closed sales and nearly $132 million in total sales volume.
Elsewhere, Greater Carmel remained steady as average sales prices increased and inventory expanded, providing buyers with greater selection heading into the second half of the year. Carmel Valley also gained momentum over the first quarter, with improving buyer activity, faster-moving inventory, and continued demand across a variety of price points. Monterey and Pacific Grove both saw an increase in sales volume and sales activity, with robust inventory providing momentum heading into the third quarter. In Carmel Highlands and Big Sur, a limited number of transactions once again produced strong pricing performance, reinforcing the enduring value and desirability of these highly sought-after coastal properties.
Carmel Realty Company continues to lead the luxury market across the Monterey Peninsula, representing more than 35% of all transactions above $5 million and over 42% of the market above $10 million this year. From landmark sales in Pebble Beach and Carmel-by-the-Sea to exceptional representation throughout our coastal communities, our agents continue to set the standard for local expertise, market knowledge, and exceptional client service.
Each of the markets we serve continues to balance changing inventory levels, buyer demand, and pricing trends, making knowledgeable local representation more valuable than ever. Whether you are considering buying, selling, or simply staying informed, our team is here to provide trusted guidance every step of the way.
We hope you enjoy this detailed analysis of the Monterey Peninsula real estate market and find it to be a valuable resource.
Market Update
Market Update
Carmel-by-the-Sea & Carmel Point
Carmel-by-the-Sea & Carmel Point
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$3,768,554
Carmel-by-the-Sea had an exceptionally strong second quarter, recording 35 sales—the highest quarterly total since Q3 2023 and a 75% increase over the previous quarter. While fewer luxury sales brought the average sales price down from Q1’s unusually high levels, it remained a healthy $3.7 million, and overall sales volume climbed to nearly $132 million, the highest since Q2 of 2024. Inventory also increased heading into Q3, with 36 active listings providing more opportunities for buyers compared to just 23 at the end of last quarter. Carmel Realty Company and Monterey Coast Realty continued to lead the market, representing 14 of the quarter’s 35 sales, including the highest-priced MLS sale at $13 million and a $20 million off-market transaction, both double-ended by Carmel Realty.
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59 Average Selling Price
$131,899,388 Average Days on Market
versus Q1 2026
versus Q2 2025 16.8% versus Q1 2026 22.6% Units Sold
versus Q2 2025 13.5% versus Q1 2026
35 Sales Volume
versus Q1 2026
versus Q2 2025 versus Q2 2025
Q2 2026 Quarterly Market Breakdown
Average vs. Median Sales Price in millions
Number of Closed Sales By Quarter
Median Sales Price in millions Total Sales Volume By Quarter in millions
Did You Know?
Carmel-by-the-Sea is known for attracting various celebrities and artists. Clint Eastwood served as mayor of the village from 1986-1988. Other notable celebrities, artists and writers who have called Carmel home include Doris Day, John Denver, Ansel Adams and Jack London.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Greater Carmel
Carmel Woods, Mission Fields, Hatton Fields, Carmel Hills, High Meadows, Jacks Peak, Carmel Meadows, Carmel Views/ Rancho Rio Vista, Carmel Rancho, Hacienda/Del Mesa
The Greater Carmel area experienced a steady second quarter with 23 sales, slightly below the previous quarter but generally consistent with recent market trends. Average sales price increased 7% as more activity shifted into the $1 million to $2 million range, although the market has yet to see a sale above $5 million this year. Inventory also improved, rising from 32 to 49 active listings, offering buyers more selection heading into the second half of 2026. Carmel Realty agents remained active throughout the quarter, representing clients in eight transactions, including a double-ended sale of the second highest sale of the quarter.
63 Average Selling Price $1,916,391
Units Sold
25.8% versus Q2 2025 versus Q1 2026 8.0% versus Q1 2026 1.2% versus Q2 2025 16.7% versus Q1 2026 21.3% versus Q2 2025 30.6% versus Q1 2026 7.4% versus Q2 2025 6.5%
23 Sales Volume $44,077,000 Average Days on Market
Q2 2026 Quarterly Market Breakdown
Average vs. Median Sales Price in millions
Total Sales Volume By Quarter in millions
Number of Closed Sales By Quarter
Median Sales Price in millions
Did You Know?
Robert Louis Stevenson modeled Treasure Island’s Spyglass Hill after Point Lobos State Reserve near Carmel. “Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Market Update
Carmel Valley
Including Santa Lucia Preserve
Carmel Valley showed improvement over the first quarter, with increases in sales, average sales price, and overall sales volume, although activity remained below the stronger quarters seen in 2025. After a slow start to the year, buyer activity accelerated in March and April before easing slightly in June. Homes also sold more quickly, with days on market falling to their lowest level since Q2 2024, while inventory increased modestly to 62 active listings. Carmel Realty maintained a strong presence in the Valley with multiple agent closings and seven active listings currently on the market.
Q2 2026 Statistics
Average Days on Market
60 Average Selling Price $2,184,345
29 Sales Volume
Units Sold
3.3% versus Q2 2025 versus Q1 2026 11.5% versus Q1 2026 21% versus Q2 2025 27.7% versus Q1 2026 33.3% versus Q2 2025 18.6% versus Q2 2025 15.8% versus Q1 2026 8.5%
$63,346,000
Q2 2026 Quarterly Market Breakdown
Average vs. Median Sales Price in millions
Total Sales Volume By Quarter in millions
Number of Closed Sales By Quarter
Sales Price in millions
Did You Know?
Monterey County has 349 vineyards, 82 bonded wineries and 65 tasting rooms. The wide range of climates allow Monterey County to grow over 30 different wine grape varietals.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Pebble Beach
Pebble Beach continued its impressive momentum during the second quarter, with higher sales volume and transaction activity than both last quarter and the same period last year. Luxury demand remained especially strong, driving the highest quarterly sales volume since early 2022, with 16 properties selling above $5 million already this year— matching all of 2025. Carmel Realty Company dominated the upper end of the market, representing one side of seven of the top ten sales and more than half of the total dollar volume sold during the quarter, including the highest-priced sale double ended by Carmel Realty Company.
2026 Statistics
Average Selling Price
$4,956,451
Average Days on Market
83
27 Sales Volume
Units Sold
28.6% versus Q1 2026 6.1% versus Q1 2026 versus Q2 2025 118.4% 1.2% versus Q2 2025 68.9% versus Q2 2025 43.9% versus Q1 2026 17.5%
$133,824,166
17.4% versus Q2 2025 versus Q1 2026
Q2 2026 Quarterly Market Breakdown
By Quarter in
Number of Closed Sales By Quarter
Did You Know?
17-Mile Drive through Pebble Beach is one of only nine private toll roads in the country, and the only one west of the Mississippi.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Carmel Highlands, Big Sur & South Coast
The Carmel Highlands and Big Sur market saw a typical number of transactions during the second quarter, but several high-end sales significantly boosted both average sales price and overall sales volume. The region recorded the highest individual sale of any market we track, exceeding $35 million, while three additional properties sold between $3 million and $5 million. Inventory remained relatively steady, and Carmel Realty agents continue to represent several notable listings as activity progresses into the second half of the year
Average Selling Price $8,650,417
Average Days on Market
151
6 Sales Volume
Units Sold
versus Q2 2025 versus Q1 2026 20% 25% versus Q2 2025 51% versus Q1 2026 18.9% versus Q2 2025 63.2% versus Q1 2026 180.3% versus Q2 2025 117.6% versus Q1 2026 133.6%
$51,902,500
Q2 2026 Quarterly Market Breakdown
Average vs. Median Sales Price in millions
Total Sales Volume By Quarter in millions
Number of Closed Sales By Quarter
Did You Know?
Local settings from around the Monterey Peninsula have provided the backdrops for more than 180 films and television shows. You’ll recognize many scenes in HBO’s award winning mini-series Big Little Lies in Big Sur and the Carmel Highlands.
“Monterey
County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Pacific Grove enjoyed a strong second quarter, recording 45 sales—well above its typical quarterly pace. Increased buyer activity throughout May and June helped drive sales volume to nearly double that of Q1, while the average sales price rose more than 18% quarter over quarter. The luxury segment also strengthened, with five homes selling between $3 million and $5 million, and several high-end listings currently on the market. The quarter ended with 42 active listings in Pacific Grove, up from 33 last quarter and 31 this time last year.
Average Selling Price
$1,692,000
Average Days on Market
46
versus Q2 2025 21.1% versus Q1 2026 21.1% versus Q2 2025 9.5% versus Q1 2026 18.3%
$76,140,000
Units Sold
45 Sales Volume
45.2% versus Q2 2025 versus Q1 2026 66.7% versus Q2 2025 58.9% versus Q1 2026
Q2 2026 Quarterly Market Breakdown
Did You Know?
Point Pinos Lighthouse in Pacific Grove is the oldest continually operating lighthouse on the West Coast.
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020
Monterey & Del Rey Oaks
Monterey and Del Rey Oaks posted an outstanding second quarter with 72 sales, the strongest quarterly performance since Q2 2024. Sales volume increased more than 65% over the previous quarter as buyer demand remained strong, despite most transactions occurring below $1.2 million. Homes sold faster than they have in nearly two years, and inventory expanded to 75 active listings heading into summer. Carmel Realty agents continued their strong market presence, representing buyers and sellers across numerous transactions throughout the quarter.
Average Selling Price $1,273,032
Average Days on Market
45
versus Q2 2025 15.2% versus Q2 2025 6.3% versus Q1 2026 25% versus Q2 2025 5.6% versus Q1 2026 12.7%
72 Sales Volume
$91,658,280
Units Sold
22% versus Q2 2025 versus Q1 2026 46.9% versus Q1 2026
Q2 2026 Quarterly Market Breakdown
“Monterey County Fun Facts”, Monterey County Convention & Visitors Bureau, 2020 Did You Know?
Nearly a quarter million tons of sardines were processed on Cannery Row in 1945, the year John Steinbeck’s Cannery Row was published. Cannery Row was previously named Ocean View Avenue but was renamed to honor John Steinbeck’s well-known novel.
Authentic Market Leaders & True Industry Experts
As the market leading luxury brokerage, for over 100 years we have consistently delivered outstanding quality and service to our clients. Our handpicked team of agents share our commitment to quality, integrity, and the community. Unmatched experience, local knowledge, and collaboration has allowed our team to achieve the highest average agent production in the market year after year. When you work with Carmel Realty Company, you can take comfort in knowing you are working with an authentic expert in Monterey Peninsula real estate.
