Monterey Condo Update

What’s happening with the Monterey Condo Market?

There have been 25 condo sales in Monterey over the last 90 days. The most expensive were two of the Mar Vista Condos at 400 Mar Vista Dr, Monterey, CA.  The larger one a 2 bed, 2 bath 1600 sq. ft. sold for $503,750. The other 1550 sq. ft sold for $497,000. Both of these condos had good ocean views!

At the lower end of the scale, $200,000 and under were 14 condos that sold. 8 of these were the Cypress Park Condos. The Cypress Park Condos went into bankruptcy and then came back on the market for sale again. These condos were conversions from apartments and totally remodeled inside.  There are a few left but most (or maybe all) are special units for affordable housing. You have to meet maximum income requirements and apply first thru the city of Monterey.

Four of the lower priced sales were condos on Dela Vina and sold for between $135,000 and up to $168,000.  For many people condos at these prices are going to be cheaper than paying rent, even when including condo fees!

Above the $200,000 price range were 3 more of the Cypress Park Condos – 2 bedroom units. There were also 2 sales at Footprints on the Bay. Plus one at Tanglewood Condos in Skyline Forest at $280,000 – a good price on one of these units.

Then in the $300,000 and up range were one of the Villa Via Condos – at $320,000. The Villa Via Condos are in a great location walking distance to town and are a gated complex.  Also one of the Laine Hill Condos sold for $331,500. This was a smaller 2 bedroom 1 bath unit only 763 sq ft., but walking distance to Cannery Row and the Monterey Recreation Trail.  The third condo sale in the $300,000 range was one of the Monterey Woods Condos off Josselyn Canyon Rd. This spacious 1778 sq. ft. 3 bedroom, 2.5 bath remodeled condo sold for $ 375,000 and was an all cash sale!

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