What’s the Latest?

Week of April 24-April 30th

Real Estate News

Single family home inventory starting to climb, but still behind.

Inventory levels are up for 2023, with around 80,000 new single-family listings this week. While inventory is climbing as we move further into Spring, there are still 10% fewer listings than last year. Despite this, 21,000 of the new listings (around 25%) are already under contract, indicating strong demand. It will be interesting to watch the market to see if the sales rate in May will increase.

Local News and Events

Buying additional water credits - when will they be available?

California American Water is in agreement with Monterey Peninsula Water Management District to work together to expand the wastewater reclamation project. This project could offer a significant amount of water to the area and allow property owners to start adding bathrooms as well as developing ground-up construction/homes on vacant lots. The availability of extra water could happen as early as 2025.

Thanks for reading! Ready to achieve your next real estate goal?

Reach Out to Chat

Jonathan Balog

DRE# 01980970
Broker
M: 831.747.0310
[email protected]

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.

OUR WEEKLY UPDATE