Don’t Wait for the “Perfect” Moment — It Might Cost You

Elise Cricchio
Sep 25, 2025
2 min read

Congrats! If you’re reading this, you’re serious about buying a home. That’s a big step, and you deserve to feel confident you’re making the right move. But I want to share something many buyers don’t realize: while waiting for interest rates to drop or for the market to swing in your favor sounds smart, it can also cost you — in time, opportunity, and money.

Here’s what the data shows about the Monterey Peninsula market, and why I believe now is a strong time to move forward.

What the Local Data Is Showing Right Now

The average 30 - year fixed mortgage rate in Monterey is hovering around 6.150% as of September 2025. (Realtor.com)
Inventory: Monterey County had about 591 active listings in August 2025, up from 510 in May, but still well below historic averages. (FRED)
Homes are selling faster: The median days on market in Monterey is about 34 days, down from 54 days last year. (Redfin)

This means buyers today are facing a market where interest rates have eased, but competition is building again — and homes are moving more quickly than they did a year ago.

Why “Waiting” Can Be Risky

Interest Rate Drops Aren’t Guaranteed Even if mortgage rates come down, prices may rise faster. A 1% lower rate won’t help much if the house itself costs $100K more.
The Market Is Flipping Faster What looks like a buyer’s market right now — with slightly more inventory and sellers negotiating — can shift quickly as demand surges.
Lost Opportunity Every month you wait is a month of rent paid (instead of equity built) and another chance for your dream home to go to someone else.

Why Now on the Monterey Peninsula Looks Especially Promising

Inventory is up slightly but still historically low — meaning opportunities exist but won’t last forever.
Mortgage rates are reasonable in the 6% range, compared to the 7%+ peaks buyers saw just a year ago.
Off-market and discreet listings are a real advantage: I have access to roughly 22% of homes before they go live, which means my clients often see properties others don’t.

What You Can Do to Be Ahead

Get pre-approved now so you can move fast when the right home comes up.
Define your must-haves versus nice-to-haves to avoid hesitation when a home fits.
Stay informed on local trends (price, inventory, days on market) instead of national headlines.
Work with an agent who has deep ties in the community and access to early listings.

When the Right Time Is Now

If your finances are in order, if you’re emotionally ready to own, and if you know what kind of home works for you, then delaying just for a slightly lower rate could cost you more in price, competition, or missed opportunities.

So congratulations again on stepping into this journey. I’m here to keep you informed, to help you see what’s happening in real time, and to make sure you don’t miss out. If you’d like, I can share newly listed and off-market listings with you so you get first shot when something perfect comes up.

Elise Cricchio - The Malone Hodges Team - Monterey Coast Realty - Realtor® | DRE#02213152

831.206.9969 - Elise@malonehodges.com