Monterey Dunes Colony – Market Update 2015
2015 Sales for 12 Month Period: 5 condos at Monterey Dunes Colony Sold. Prices ranged from $750,000 to $1,300,000. The lower priced condo, 242 Monterey Dunes Way, was a smaller 2 bedroom, 2 bath unit 1381 sq ft. This was a very good price to get entry to the secluded beachfront complex. The higher priced sale, 208 Monterey Dunes Way, was a spacious 2007 sq ft condo with 4 bedrooms and 3 baths. The condo was sold fully furnished. The buyer side paid for some of the normal seller closing costs so actual price paid was effectively higher.
Average square foot cost: of the 5 condos would have been approx. $535.65 per sq ft. While this is an easy way to calculate price – view, size and condition of condo are more important than just the size/square footage of condo! Two of the condos sold at or close to full price – Condo #230 was listed at $999,000 and sold in 8 days for full price. It was very well located, with good views with a popular floor plan. Condo # 146 was a larger 2005 sq ft, with 3 beds and 3 baths. It was listed for $998,500 and sold for $950,000 in a little over 2 months.
List VS Sales Prices: There were substantial differences between list and sales price on the other three condos. The highest sale condo 208 listed for $1,650,000 and sold for $1,300,000 in a 124 days. 198 Monterey Dunes was listed for $1,100,000 and sold for $875,000 with 377 days on the market. 242 Monterey Dunes Way was on the market a little over 2 months, listed at $769,900 and sold for $750,000.
Beachfront Complexes: Monterey Dunes Colony is one of four beachfront complexes in the Monterey Area. Each has it’s one unique feel to it. Monterey Dunes as two condos on the market currently at $1,250,000 and $1,500,000. If you would like to see either condo or any other property in the area, please give me a call. Eileen at (831) 277-9939