Monterey is currently tilted toward sellers, with the market gauge at 3 indicating a seller's market despite some mixed signals. With just 5 homes for sale in March 2026 and inventory down 28.57 percent from the previous month and 76.19 percent year over year, limited supply is helping keep conditions in sellers’ favor.
Home values in Monterey are slightly below those in Jacksonville overall, with a typical home value of $275,000 compared to the city’s $300,000. Prices have edged up 1.38 percent month over month even as values are down 1.43 percent over the past year, and the projected typical home value of $276,875 for April 2026 suggests only a modest near-term increase. List prices are moving the other way, with the median list price at about $249,500 in March and projected to ease further to roughly $239,774 next month after a 7.23 percent monthly decline.
Conditions on the ground show a slow pace, as homes spent a median of 100 days on the market in March and that figure is up sharply both month over month and year over year. Buyer activity has cooled, with 17 pending sales and a 26.09 percent drop from last year, while new listings have fallen 60 percent over the same period, keeping choices limited even as only about 6.67 percent of sales close above list and the average sale-to-list ratio sits near 0.97. Whether you are a buyer navigating these shifting trends or a seller trying to price correctly, Agent Pronto can connect you with a local Monterey agent who understands this market.
