Salinas-area home prices rise 1.1% in August, with houses for sale in high demand

Mike Stucka and Sean Lahman USA TODAY NETWORK
·2 min read

A typical Monterey County home listed for $959,500 in August, up 1.1% from the previous month's $949,000, an analysis of data from Realtor.com shows.

The median list home price in August was down about 19.3% from August 2021. Monterey County's median home was 1,817 square feet for a listed price of $586 per square foot.

The Monterey County market was busy, with a median 45 days on market. A month earlier, homes had a median 39 days on market. The market added 264 new home listings in August, compared with the 356 added in August 2021. The market ended the month with some 466 listings of homes for sale.

The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.

Housing affordability crisis: California lawmakers pass rival fast-track housing bills

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

Across all of California, median home prices were $725,000, falling 3.2% from a month earlier. The median California home for sale had 1,756 square feet at list price of $431 per square foot.

Across the United States, median home prices were $435,050, down 3.1% from a month earlier. The median American home for sale had 1,890 square feet, listed at $222 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on Salinas Californian: Salinas-area homes for sale near $1 million in hot California market