Featured Listing in Big Sur 40990 Highway 1 · $5,995,000
Q3 2026 Market Report THE MONTEREY PENINSULA
Carmel- by- the- Sea · Greater Carmel · Carmel Valley · Pebble Beach Carmel Highlands & Big Sur · Pacific Grove · Monterey
CARMEL REALTY COMPANY
Featured Listings A selection of Carmel Realty Company’s current offerings across the peninsula. Panoramic Ocean Views Overlooking MPCC
Renovated & Private Pebble Beach Estate
3032 Cormorant Road 5 bed, 5+ bath · $24,000,000
3208 Palmero Way 5 bed, 5.5 bath · $17,600,000
Carmel Cottage Along Iconic Scenic Road
Sanctuary of Zen in Pebble Beach
Scenic 2 NE of 11th 3 bed, 2 bath · $17,500,000
3159 Stevenson Drive 5 bed, 5.5 bath · $8,995,000
Rare Historic Ranch in Carmel Valley
Custom Resort-Like Estate in Pasadera
35351 E Carmel Valley Road 6 bed, 6+ bath · $8,250,000
706 Tesoro Road 3 bed, 3+ bath · $3,850,000
2
Q3 2026 MARKET REPORT
Contents Featured Listings
2
Significant Sales
4
Market Overview
5
Carmel-by-the-Sea & Carmel Point
6
Greater Carmel
8
Carmel Valley
10
Pebble Beach
12
Carmel Highlands, Big Sur & South Coast
14
Pacific Grove
16
Monterey & Del Rey Oaks
18
Carmel Realty Company · Established 1913
3
CARMEL REALTY COMPANY
Significant Sales A selection of Carmel Realty Company’s notable closed sales this quarter. In the Exclusive Enclave of Macomber Estates
Set on a Private Ridge in Carmel Valley
3240 Macomber Drive $13,250,000 · Rep Seller
27350 Upper Forty Drive $9,995,000 · Rep Buyer & Seller
Modern Home in the Heart of Carmel-by-the-Sea
The Ultimate Pebble Beach Retreat
San Carlos 3 SE of 7th $5,500,000 · Rep Buyer & Seller
2947 Old 17 Mile Drive $4,305,000 · Rep Seller
New England Elegance in Pebble Beach
Storybook Carmel-by-the-Sea Cottage
3100 Flavin Lane $3,335,000 · Rep Seller
NEC of Santa Rita & 3rd $3,225,000 · Rep Buyer & Seller
4
MARKET OVERVIEW
The Monterey Peninsula As summer transitions into fall, the Monterey Peninsula offers a season all its own. With warm, sun-filled afternoons often extending well into autumn, these months are an especially inviting time to enjoy the region’s coastal beauty, outdoor lifestyle, and vibrant local communities. Our market has also benefited from the beginning of the substantial wealth creation taking place in the San Francisco Bay Area. While many technology buyers need to stay near the Bay Area to complete their stock vesting, early founders and financial investors are starting to invest in neighboring markets like Napa Valley and Monterey. We are beginning to see the benefits of this and expect it will continue at a measured level for the next few years. The Monterey Peninsula recorded 310 closed sales in Q3, a 7% increase over the same period last year. While the average sales price eased slightly to $1.92 million, total sales volume remained essentially unchanged at $594.3 million, reflecting continued stability across the market. Summer brought the busiest stretch of the year, with July posting its strongest sales activity since 2021 and September reaching its highest level since 2022. Homes sold in an average of 65 days, highlighting a market where buyers remain engaged but continue to make thoughtful, selective decisions. Looking ahead, the Peninsula carries positive momentum into the final quarter. October has brought a notable increase in activity in each of the past two years, and the month started with 410 active listings. With 134 transactions already scheduled to close before year-end, including 110 in October, the market remains active as we enter the fall season. Across our markets, local knowledge and experienced representation is essential to navigating changing conditions and making informed real estate decisions. Our team of agents at Carmel Realty Company and Monterey Coast Realty are the best in the business and it shows. We are the current market leaders by volume across the Monterey Peninsula. Our team is tenaciously focused on this market. We are collaborative experts, providing early access and excellent service to buyers and sellers across our local markets. Please reach out to us for exceptional real estate representation. We hope you enjoy the following detailed analysis of the Monterey Peninsula real estate market. TOTAL SALES
AVERAGE PRICE
ACTIVE LISTINGS
VOLUME
DAYS ON MARKET
310
$1.9M
410
$594.3M
65
5
MARKET UPDATE
Carmel-by-the-Sea & Carmel Point Carmel-by-the-Sea and Carmel Point had a quieter quarter, with 22 closed sales, down from a very active spring but still ahead of the 20 recorded in the first quarter. The average sales price of $4.28M was the second highest of the past five quarters, up 13% from Q2 and 29% from a year ago. Total volume of $94M was the lowest of the year, as only one sale closed above $10M, at $15.5M. Inventory thinned after July and the quarter ended with just 23 active listings, which likely held activity back. Carmel Realty Company and partner brokerage Monterey Coast Realty represented five sides of the top four sales and at least one side of half of all transactions.
AVERAGE SALE PRICE
TOTAL SALES VOLUME
$4,283,275
$94.2M
▲ 13.7% QoQ
▲ 29.0% YoY
▼ 28.6% QoQ
▼ 8.5% YoY
UNITS SOLD
AVERAGE DAYS ON MARKET
22
51
▼ 37.1% QoQ
▼ 29.0% YoY
▼ 13.6% QoQ
6
▼ 32.0% YoY
Carmel-by-the-Sea & Carmel Point
MARKET DETAIL
SALES BY PRICE SEGMENT
$1M-2M
$2M-3M
$3M-5M
$5M+
2 homes · 9%
6 homes · 27%
9 homes · 41%
5 homes · 23%
A V E R A G E V S . M E D I A N P R I C E trailing five quarters
$5.0M
$4.0M
$3.0M
$2.0M Q3 25
Q4 25
Q1 26
Average
Q2 26
Q3 26
Median
Q U A R T E R L Y M O M E N T U M 2025 versus 2026 SALES VOLUME
CLOSED SALES
$150M
AVERAGE DAYS TO SELL
40
100
20
50
$100M
$50M
$0
0
Q1
2025
Q2
Q3
Q4
0
Q1
Q2
2026
Source: MLSListings, closed single-family sales, Q3 2026.
7
Q3
Q4
Q1
Q2
Q3
Q4
MARKET UPDATE
Greater Carmel Greater Carmel started the quarter slowly, with only four sales in July, then picked up through August and September to finish with 24 closed sales. The median price of $1.6M and average of $1.76M were solid and consistent for the area, down just slightly from the second quarter. Total volume of $42.2M ran a little below the usual pace, as only two homes sold above $3M compared with five last quarter. Homes averaged 80 days on market, on the higher side for Greater Carmel and matching the first quarter. The quarter closed with 49 active listings, level with Q2 and up 11 from a year ago, giving buyers a healthy selection heading into the fall.
AVERAGE SALE PRICE
TOTAL SALES VOLUME
$1,757,438
$42.2M
▼ 8.3% QoQ
▼ 2.6% YoY
▼ 4.3% QoQ
▼ 22.1% YoY
UNITS SOLD
AVERAGE DAYS ON MARKET
24
80
▲ 4.3% QoQ
▼ 20.0% YoY
▲ 27.0% QoQ
8
▲ 12.7% YoY
Greater Carmel
MARKET DETAIL
SALES BY PRICE SEGMENT
<$1M
$1M-2M
$2M-3M
$3M-5M
$5M+
6 homes · 25%
10 homes · 42%
6 homes · 25%
1 home · 4%
1 home · 4%
A V E R A G E V S . M E D I A N P R I C E trailing five quarters
$2.0M
$1.5M
$1.0M Q3 25
Q4 25
Q1 26
Average
Q2 26
Q3 26
Median
Q U A R T E R L Y M O M E N T U M 2025 versus 2026 SALES VOLUME
CLOSED SALES
$75M
AVERAGE DAYS TO SELL
40
100
20
50
$50M
$25M
$0
0
Q1
2025
Q2
Q3
Q4
0
Q1
Q2
2026
Source: MLSListings, closed single-family sales, Q3 2026.
9
Q3
Q4
Q1
Q2
Q3
Q4
MARKET UPDATE
Carmel Valley Carmel Valley had a particularly strong quarter. The average sales price of $2.35M was the highest since Q2 of last year, and the 36 closed sales were the second highest count since Q4 of 2024. Most of the activity came in July, followed by a slower August and a rebound in September. Total volume reached just under $85M, the highest since Q4 of 2024, with more sales above $2M than usual. Homes averaged 116 days on market, as 14 of the 36 sales took more than three months to close. Inventory rose to 73 active listings by quarter end. Carmel Realty Company and Monterey Coast Realty double-ended the top sale at $9.995M and represented seven additional clients.
AVERAGE SALE PRICE
TOTAL SALES VOLUME
$2,356,472
$84.8M
▲ 7.9% QoQ
▲ 9.8% YoY
▲ 33.9% QoQ
▲ 1.3% YoY
UNITS SOLD
AVERAGE DAYS ON MARKET
36
116
▲ 24.1% QoQ
▼ 7.7% YoY
▲ 93.3% QoQ
10
▲ 61.1% YoY
Carmel Valley
MARKET DETAIL
SALES BY PRICE SEGMENT
<$1M
$1M-2M
$2M-3M
$3M-5M
$5M+
5 homes · 14%
13 homes · 36%
12 homes · 33%
4 homes · 11%
2 homes · 6%
A V E R A G E V S . M E D I A N P R I C E trailing five quarters $3.0M
$2.0M
$1.0M Q3 25
Q4 25
Q1 26
Average
Q2 26
Q3 26
Median
Q U A R T E R L Y M O M E N T U M 2025 versus 2026 SALES VOLUME
CLOSED SALES
$100M
40
$50M
20
AVERAGE DAYS TO SELL 150
100
50
$0
0
Q1
2025
Q2
Q3
Q4
0
Q1
Q2
2026
Source: MLSListings, closed single-family sales, Q3 2026.
11
Q3
Q4
Q1
Q2
Q3
Q4
MARKET UPDATE
Pebble Beach Pebble Beach recorded 24 sales, matching Q3 of last year and just three fewer than the prior quarter. Half of them closed in September, the busiest single month since October of last year. The average sales price of $4.4M was a little lower than the past two quarters, with 42% of sales in the $2M to $3M range. At the top, one home sold for $24M and another for $13.25M. Even so, the year remains very strong, and volume through Q3 has already passed the full-year totals for 2023, 2024 and 2025. Homes sold in an average of 50 days, down from more than 80 in each of the prior three quarters. Carmel Realty Company and Monterey Coast Realty represented at least one side of 13 of the 24 sales.
AVERAGE SALE PRICE
TOTAL SALES VOLUME
$4,406,457
$105.8M
▼ 11.1% QoQ
▼ 11.6% YoY
▼ 21.0% QoQ
▼ 11.6% YoY
UNITS SOLD
AVERAGE DAYS ON MARKET
24
50
▼ 11.1% QoQ
▼ 39.8% QoQ
no change YoY
12
▼ 9.1% YoY
Pebble Beach
MARKET DETAIL
SALES BY PRICE SEGMENT
<$1M
$1M-2M
$2M-3M
$3M-5M
$5M+
1 home · 4%
4 homes · 17%
10 homes · 42%
5 homes · 21%
4 homes · 17%
A V E R A G E V S . M E D I A N P R I C E trailing five quarters
$6.0M
$4.0M
$2.0M
Q3 25
Q4 25
Q1 26
Average
Q2 26
Q3 26
Median
Q U A R T E R L Y M O M E N T U M 2025 versus 2026 SALES VOLUME
CLOSED SALES
$150M
30
$100M
20
$50M
10
AVERAGE DAYS TO SELL 100
50
$0
0
Q1
2025
Q2
Q3
Q4
0
Q1
Q2
2026
Source: MLSListings, closed single-family sales, Q3 2026.
13
Q3
Q4
Q1
Q2
Q3
Q4
MARKET UPDATE
Carmel Highlands, Big Sur & South Coast Carmel Highlands and Big Sur had another typical quarter with six closed sales, the same count seen in four of the past five quarters. The average sale price reached nearly $6.2M, lifted by three sales above $7M, a pattern common to an area with few transactions and occasional high-end closings. Homes averaged 212 days on market, up 40% from last quarter and almost 60% from a year ago, though high on-market times are normal here. Volume eased from the prior quarter, yet the year-to-date total already exceeds all of 2023 and 2024 and is approaching 2025 with a quarter to go. Carmel Realty Company was proud to double-end the highest sale of the quarter.
AVERAGE SALE PRICE
TOTAL SALES VOLUME
$6,158,333
$37.0M
▼ 28.8% QoQ
▲ 10.8% YoY
▼ 28.8% QoQ
▲ 10.8% YoY
UNITS SOLD
AVERAGE DAYS ON MARKET
6
212
no change QoQ
▲ 40.4% QoQ
no change YoY
14
▲ 59.4% YoY
Carmel Highlands, Big Sur & South Coast
MARKET DETAIL
SALES BY PRICE SEGMENT
$1M-2M
$3M-5M
$5M+
1 home · 17%
2 homes · 33%
3 homes · 50%
A V E R A G E V S . M E D I A N P R I C E trailing five quarters $10.0M
$5.0M
Q3 25
Q4 25
Q1 26
Average
Q2 26
Q3 26
Median
Q U A R T E R L Y M O M E N T U M 2025 versus 2026 SALES VOLUME
CLOSED SALES
$60M
AVERAGE DAYS TO SELL
10
300
$40M
200 5
$20M
100
$0
0
Q1
2025
Q2
Q3
Q4
0
Q1
Q2
2026
Source: MLSListings, closed single-family sales, Q3 2026.
15
Q3
Q4
Q1
Q2
Q3
Q4
MARKET UPDATE
Pacific Grove Pacific Grove had a typical quarter with 37 closed sales, in line with its usual pace outside the standout results of Q2 2026 and Q4 2025. The average sales price of $1.4M was the lowest since Q2 of 2022, after holding near $1.6M for the past three years, as no homes sold above $3M this quarter. Seven listings above that price point remain on the market heading into Q4. Days on market rose to 64, driven by four sales above $2M that each took more than 150 days, while most homes still sold in under 50 days. Sales volume is in line with pre-COVID levels, and Carmel Realty Company placed one Pacific Grove listing into escrow just five days after it came to market.
AVERAGE SALE PRICE
TOTAL SALES VOLUME
$1,406,988
$52.1M
▼ 16.8% QoQ
▼ 18.6% YoY
▼ 31.6% QoQ
▼ 5.9% YoY
UNITS SOLD
AVERAGE DAYS ON MARKET
37
64
▼ 17.8% QoQ
▲ 15.6% YoY
▲ 39.1% QoQ
16
▲ 93.9% YoY
Pacific Grove
MARKET DETAIL
SALES BY PRICE SEGMENT
<$1M
$1M-2M
$2M-3M
9 homes · 24%
23 homes · 62%
5 homes · 14%
A V E R A G E V S . M E D I A N P R I C E trailing five quarters $2.0M
$1.5M
$1.0M Q3 25
Q4 25
Q1 26
Average
Q2 26
Q3 26
Median
Q U A R T E R L Y M O M E N T U M 2025 versus 2026 SALES VOLUME
CLOSED SALES
$100M
AVERAGE DAYS TO SELL
60
75
40
50
20
25
$50M
$0
0
Q1
2025
Q2
Q3
Q4
0
Q1
Q2
2026
Source: MLSListings, closed single-family sales, Q3 2026.
17
Q3
Q4
Q1
Q2
Q3
Q4
MARKET UPDATE
Monterey & Del Rey Oaks Monterey and Del Rey Oaks had a strong quarter with 76 closed sales, the most since Q2 of 2024, while each month delivered more than 20 sales. Total volume of $95.7M was also the highest since Q2 2024, up almost 20% from a year ago. The average sale price held nearly level with last quarter, down only 1%, as a higher number of sales and a lack of high-end activity kept it in check. Only one home sold above $3M during the quarter, occurring in Monterra. Homes averaged 46 days on market, quicker than much of the Peninsula. The quarter ended with 70 active listings, a healthy supply after such a busy stretch. Five Carmel Realty Company and Monterey Coast Realty agents represented sales here, including one collaborative double-ended transaction.
AVERAGE SALE PRICE
TOTAL SALES VOLUME
$1,259,431
$95.7M
▼ 1.1% QoQ
▼ 12.0% YoY
▲ 4.4% QoQ
▲ 19.5% YoY
UNITS SOLD
AVERAGE DAYS ON MARKET
76
46
▲ 5.6% QoQ
▲ 35.7% YoY
▲ 2.2% QoQ
18
▼ 4.2% YoY
Monterey & Del Rey Oaks
MARKET DETAIL
SALES BY PRICE SEGMENT
<$800K
$800K-1.2M
$1.2M-2M
$2M-3M
$3M+
18 homes · 24%
21 homes · 28%
30 homes · 39%
6 homes · 8%
1 home · 1%
A V E R A G E V S . M E D I A N P R I C E trailing five quarters
$1.5M
$1.0M
Q3 25
Q4 25
Q1 26
Average
Q2 26
Q3 26
Median
Q U A R T E R L Y M O M E N T U M 2025 versus 2026 SALES VOLUME
CLOSED SALES
$100M
100
$50M
50
AVERAGE DAYS TO SELL 75
50
25
$0
0
Q1
2025
Q2
Q3
Q4
0
Q1
Q2
2026
Source: MLSListings, closed single-family sales, Q3 2026.
19
Q3
Q4
Q1
Q2
Q3
Q4
#1 Locally Owned Brokerage on the Monterey Peninsula As the market-share leaders in Carmel-by-the-Sea and Pebble Beach, and a leading luxury brokerage for over 110 years, Carmel Realty Company has consistently delivered outstanding quality and service. Our handpicked team of agents shares a commitment to quality, integrity, and community. Unmatched experience, deep local knowledge, and true collaboration allow our team to achieve the highest average agent production and lead the market year after year.
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