Published October 2, 2026 in Market Update

Monterey Bay Area sales rose faster than listings this summer

By Monique Kaldy

Real estate, Monterey Bay Area

The one fact that changes what you should do right now: sales rose four times faster than new listings. The Real Estate Data Aggregator counted 220 homes sold across the Monterey Bay Area in the three months ending July 31, 2026, up 35.8% from the same period in 2025. New listings rose only 8.8% over that same stretch. More buyers cleared the market than new supply arrived to replace them.

Pending sales rose 21.6%, according to the Real Estate Data Aggregator. That means buyers are still committing, not just browsing. For buyers, that is the reason timing and preparation still matter. For homeowners, it means demand did not quietly disappear this summer.

The national picture adds context

The Federal Housing Finance Agency reported U.S. home prices rose 2.6% from July 2025 to July 2026. Month over month, prices rose 0.3% in July on a seasonally adjusted basis, also from the Federal Housing Finance Agency. That is a slow, steady national climb, not a sharp move in either direction.

Rates are a real headwind right now. CNBC reported the average 30-year fixed rate on conforming loans reached 7.30% as of September 30, 2026. Mortgage News Daily put the rate at 7.58% on that same Tuesday. Realtor.com noted rates topped 7% for the first time since January 2025. Higher rates slow some buyers. They did not stop the Monterey Bay Area from posting its sales gain this summer.

Each ZIP code tells its own story

The area-wide numbers are real, but they cover four very different ZIP codes. Here is what the Real Estate Data Aggregator counted in each one for the three months ending July 31, 2026.

Monterey, ZIP 93940

The Real Estate Data Aggregator counted 79 homes sold in ZIP 93940 in the three months ending July 31, 2026, up 36.2% from a year before. The median sale price was $1,120,000, down 2.6% year over year. Prices dipped a little, but homes moved quickly. The median was 21 days on market, one day shorter than the same period in 2025. Nearly half of all listings, 45.6%, went under contract within two weeks, up 12.3 points year over year. Months of supply fell to 2.9, down 1.7 months from a year before.

Pacific Grove, ZIP 93950

The Real Estate Data Aggregator counted 51 homes sold in ZIP 93950 in the three months ending July 31, 2026, up 82.1% from a year before. That is the largest sales gain of any ZIP code here. The median sale price was $1,370,000, down 14.4% year over year. More homes sold, and they sold at a lower midpoint. Months of supply fell to 2 months, down 2.6 months from a year before. Homes for sale dropped 19% year over year, to 34 active listings. The sale-to-list ratio held at 98.4%, unchanged from 2025.

Not every home in PG sold fast. The median was 26 days on market, 8 days longer than a year ago. And the share that sold above list price fell 7 points, to 21.6%. Buyers had a little more room, but supply stayed tight.

Seaside, ZIP 93955

The Real Estate Data Aggregator counted 39 homes sold in ZIP 93955 in the three months ending July 31, 2026, up 14.7% from a year before. The median sale price was $800,000, up 2.3% year over year. Seaside posted the fastest median pace of any ZIP code here: 22 days on market, 15 days shorter than a year ago. The sale-to-list ratio was 99.1%, up 1 point. More than a third of homes, 35.9%, sold above list price, up 24.1 points year over year. Pending sales rose 26.5%.

Seaside is growing and refreshing, with new homes, an improved golf course, a luxury hotel, and mixed-use development underway. Buyers considering Seaside Highlands or other Seaside neighborhoods should verify whether a Mello-Roos or CFD assessment applies to any specific property. The tax bill and disclosures are the right place to check. Never rely on the ZIP code alone to determine the school district. Verify by address.

Marina, ZIP 93933

The Real Estate Data Aggregator counted 51 homes sold in ZIP 93933 in the three months ending July 31, 2026, up 21.4% from a year before. The median sale price was $940,000, up 3% year over year. Marina is Peninsula-adjacent and showed the most supply growth of any ZIP code here. Homes for sale rose 97.1% year over year, to 69 active listings. New listings rose 48%. Months of supply climbed to 4.1, up 1.5 months from a year before.

That supply growth shows up in the pace. The median days on market was 51 days, 22 days longer than a year ago. Still, 29.4% of homes sold above list price, up 8 points year over year. Marina is moving, just at a steadier pace than the other ZIP codes. Buyers considering newer communities in Marina should verify whether a Mello-Roos or CFD assessment applies. Check the tax bill and disclosures.

What sellers and buyers should keep in mind

Nationally, Realtor.com reported that 20.8% of listings carried a price cut in September 2026, up 0.9 percentage points year over year. That is a real number. It means roughly 1 in 5 sellers nationally had to adjust. In the Monterey Bay Area, sale-to-list ratios held between 98.4% and 99.1% across all four ZIP codes. Sellers here are pricing close and getting close. That is not a guarantee for any individual home.

One street can read very differently from the whole ZIP code. A home's specific block, condition, and price point shape its outcome more than the area average. The numbers above are a starting point, not a finish line.

Water availability and use are limited across the Monterey Peninsula. If you are considering any change to a home, including an addition, an ADU, or a bathroom, you must independently research water availability for that specific property and planned change. Never assume availability from the ZIP code or neighborhood.