After a strong finish to 2019, the Monterey Peninsula was off to a healthy Q1,

2020. The underlying real estate fundamentals seemed to be improving

until we experienced the drastic changes brought about by COVID-19,

resulting in Monterey County’s Shelter in Place order on March 17, 2020.

Despite the abrupt change in our ability to show property, volatility in the stock

market, and economic uncertainty, first quarter results were strong as most sales

were already in escrow headed towards close. Since then, however, the number of

new listings and new sales has dramatically slowed.

While we would traditionally be looking at Q1 results as a strong indicator for

what’s to come, at this point, any forecasting based on Q1 or 2019 is not useful.

Carmel-by-the-Sea and Carmel Point

Greater Carmel

Carmel Valley

Pebble Beach

Carmel Highlands and Big Sur

There are fundamentals of our market that support our belief that it will be less

impacted than others. Factors such as incredible beauty, more space (compared to

the Bay Area and LA) and limited inventory will always drive demand.

While we all navigate the future ahead, our team is prepared to help our clients

make the most of opportunities and help address any potential challenges. This

includes new sales tools, insights, and messaging strategies.

Over time, like the stock market, our real estate market always delivers. We live

in one of the most desirable communities in the world with a limited inventory of

homes. We know that together we will return to being a healthy, vibrant community,

with appreciating real estate values and an extraordinary quality of life.

We are available to answer your questions, discuss the market or share resources.

We are tracking the data and in touch with colleagues whether contractors, home

inspectors, lenders or other Realtors, so please reach out if there is a specific metric

you are hoping to understand further.


Wishing you well,