menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Carmel-by-the-Sea, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Carmel-by-the-Sea, CA Housing Market Trends

With a population of 3,146, 1,587 total housing units (homes and apartments), and a median house value of $2,429,735, Carmel-by-the-Sea house prices are not only among the most expensive in California, Carmel-by-the-Sea real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Carmel-by-the-Sea, accounting for 92.15% of the city's housing units. Other types of housing that are prevalent in Carmel-by-the-Sea include large apartment complexes or high rise apartments ( 3.92%), duplexes, homes converted to apartments or other small apartment buildings ( 3.61%).

People in Carmel-by-the-Sea primarily live in small (one, two or no bedroom) single-family detached homes. Carmel-by-the-Sea has a mixture of owner-occupied and renter-occupied housing.

The housing in Carmel-by-the-Sea was primarily built before 1939 ( 40.56%), making the housing stock in Carmel-by-the-Sea some of the oldest overall in America, although there is a range of ages of homes in Carmel-by-the-Sea. The next most important housing age is between 1940-1969 ( 36.41%), followed by between 1970-1999 ( 19.34%). There's also some housing in Carmel-by-the-Sea built between 2000 and later ( 3.70%).

A decent proportion of the Carmel-by-the-Sea housing stock is seasonally occupied. That is, homes and condos in Carmel-by-the-Sea are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Carmel-by-the-Sea housing market speaks to its popularity as a vacation location of choice.

Carmel-by-the-Sea Home Appreciation Rates

In the last 10 years, Carmel-by-the-Sea has experienced some of the highest home appreciation rates of any community in the nation. Carmel-by-the-Sea real estate appreciated 124.15% over the last ten years, which is an average annual home appreciation rate of 8.41%, putting Carmel-by-the-Sea in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Carmel-by-the-Sea definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Carmel-by-the-Sea appreciation rates have trailed the rest of the nation. In the last twelve months, Carmel-by-the-Sea's appreciation rate has been 3.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Carmel-by-the-Sea were at 2.67%, which equates to an annual appreciation rate of 11.10%.

Relative to California, our data show that Carmel-by-the-Sea's latest annual appreciation rate is lower than 60% of the other cities and towns in California.

Average Home Values

Median Home Value

$2,429,735

Carmel-by-the-Sea, CA Home Prices
> $1,353,000
$1,015,001 - $1,353,000
$677,001 - $1,015,000
$541,001 - $677,000
$406,001 - $541,000
$270,001 - $406,000
$135,001 - $270,000
$68,001 - $135,000
$0 - $68,000
88.2%
88.2%
0.0%
0.0%
3.2%
3.2%
0.8%
0.8%
0.0%
0.0%
2.9%
2.9%
3.2%
3.2%
0.0%
0.0%
1.8%
1.8%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

1,587

Carmel-by-the-Sea Appreciation Rates

Rent & Ownership

Average Market Rent:

$5,512 / per month

Homeownership Rate

Owners
Renters
56.3%
56.3%
43.7%
43.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
49.4%
49.4%
50.6%
50.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.7%
3.7%
19.3%
19.3%
36.4%
36.4%
40.6%
40.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
92.2%
92.2%
0.0%
0.0%
3.6%
3.6%
3.9%
3.9%
0.3%
0.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.9%
5.9%
14.5%
14.5%
31.3%
31.3%
39.0%
39.0%
8.0%
8.0%
1.4%
1.4%
0% 100.0%
% of Homes