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6th Avenue 2SW of, San Carlos St.
Carmel-By-The-Sea, CA 93921

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831-747-0310

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[email protected]

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What’s the Latest?

Week of May 15th-May 21st


Property Tips and Tricks

Luxury Homes For Sale in Carmel Valley

Property tax reassessment in changing markets

With the changing market conditions, we are experiencing a drop in home values in 2023 compared to 2022. In last week's newsletter, I detailed the drop in median home price in Monterey County compared to other counties in the region. Monterey County has held up comparably well but is still down a bit compared to last year. Losing equity in your home hurts, but you can do things to help ease the pain, including asking for an assessment review for your property taxes. Most areas reassess home values yearly and if you think your home is assessed too high, you can check to see if you are eligible for a lower property tax bill. Keep an eye out for your new property tax bill, which should be generated in the next couple of months. For properties in Monterey County, you can file an application with the Assessment Appeals Board between July 2nd and November 30th. I have included a link below to the applicable page on Monterey County's website.

Real Estate News

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Sales above $5MM in Carmel and Pebble Beach compared to other regional areas

Sales of properties in excess of $5MM in Pebble Beach and Carmel over the first four months in 2023 are on a similar pace to the first four months of 2020, but are down by about 75% compared to the first four months of 2021 and 2022. It is worth noting that the amount of inventory has remained relatively consistent from 2020 through today; buyers are simply buying less above $5MM and there is more price sensitivity. There is also more of a preference for updated/recently remodeled homes in these price ranges compared to the past couple of years. I am including a graph above showing recent sales activity in these areas as well as others in the region. If you want the full May Housing Report for Monterey County, visit the link below:
link to monterey county may housing report

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Jonathan Balog Luxury Realtor Carmel Pebble Beach

Jonathan Balog

DRE# 01980970
Broker
M: 831.747.0310
[email protected]

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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Carmel and Pebble Beach Real Estate

JONATHAN BALOG

Broker Associate

831.747.0310

[email protected]

DRE 01980970

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This website is not the official website of Compass, Inc. Compass, Inc. does not make any representation, warranty, or endorse any information, including without limitation its accuracy or completeness, contained on this website. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation

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