Dan Seiffert SVP, Accounting | realtors.com
Carmel-by-the-Sea, located on California's Central Coast, is known for its small yet highly valued homes. The city, with a European village feel, is approximately one square mile and features a walkable community. It boasts 60 restaurants, 40 hotels, 100 art galleries and antique shops, as well as 20 wine tasting rooms. Carmel is famous for its distinctive 1920s cottages with fairy-tale features and ranks high in residential real estate prices by price per square foot.
The area attracts residents due to its old-world ambiance and bohemian spirit. Streets are lined with eateries, shops, art galleries, and wine tasting rooms. Unique aspects of the city include the absence of street addresses and a law requiring permits for high-heeled shoes to prevent lawsuits from tripping incidents. Carmel is also known for being dog-friendly.
The community hosts events like the AT&T Pebble Beach Pro-Am golf tournament in winter and Monterey Car Week in summer. Culinary and art festivals occur throughout the year.
Jessica Canning from Sotheby’s International Realty notes that around 30% of buyers come from California's Bay Area, another 30% from Texas, while locals account for another 30%, leaving about 10% from elsewhere. Carmel's properties are mostly second homes.
Standard lot sizes are maintained at about 4,000 square feet to preserve the city's artistic character. Typical houses have two levels with three bedrooms and two-and-a-half baths.
Prime residential real estate is found in the Golden Rectangle area. Properties here can range significantly in price depending on location and view.
Janet Ruiz from the Insurance Information Institute highlights wildfire risk as a concern for homeowners in Carmel. She advises potential buyers to consider rebuilding costs and insurance coverage carefully.
Jessica Canning suggests that new property listings generally appear between January and February or during summer when the market becomes active due to tourism related to beach destinations.
Current listings include a five-bedroom home priced at $5.45 million on Mission Street and a four-bedroom house listed at $4.195 million on Forest Avenue.
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