Carmel California Real Estate
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This is an overview of the Carmel California real estate market. It is intended as a resource for investors and other home buyers when researching Monterey homes for sale.
The information is compiled from many sources, and will be updated every 3 months, however, some of the sources drawn from may be a few years older.
Last updated 3/13/10
OVERVIEW
Carmel, otherwise known as Carmel-by-the-Sea, is located on the Monterey Peninsula on the California Central Coast in Monterey County. It's a charming little seaside village with lots of artist galleries, small restaurants and quaint shops. The houses are picturesque and most adorned by flowery gardens.
The area code is 831 and the zip code is 93921. The population is around 3900.
MEDIAN HOUSEHOLD INCOME
$102,000
MEDIAN HOME PRICE
The median home value is $1,028,000 according to Zillow.
PROPERTY TAXES
Just under $2400 is the median for Carmel California Real Estate.
RENTERS VS. HOMEOWNERS
Around 29% are renters and 34% of homes are vacant. About 28% of housing units are used seasonally or for vacation only. Median gross rents are $1654. Rents seem to be around $2600 for a 3 bedroom house, but 2 bedrooms are far commoner in Carmel and go for closer to $2000.
COST OF LIVING
The cost of living in Carmel is very high compared to the national average.
THE HOUSES
Most of Carmel California real estate was built before 1940, with the next largest group being built in the 1940'sand 1950's.
Utility gas is used by 17%, and 13% use electricity. Another 8% use bottled or tank gas.
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JOBS
Most common industries for men include professional, scientific, technical, then construction, then accommodation & food service.
For women, educational services tops the list, followed by professional/scientific/technical, then health care. Jobs are primarily management and sales and supervisors.
COMMUTING
The average time for commuters to get to work is 22 minutes. 11% work from home.
THE PEOPLE
The median age of Carmel residents is 54, considerably larger than most of California which has a median age of 33.
Ethnic makeup in this area is predominately white at 94% and hispanic at 4%. Around 13% of the residents are foreign born, most of these being from England, Germany or other Northern European countries.
EDUCATION
97% of people have a high school degree or higher, 54% have a bachelor's degree or higher.
THE WEATHER
Temperatures range from 68 in summer to 43 degrees Fahrenheit in winter. There are usually around 20 inches of rain. You can expect about 269 sunny days per year.
CRIME
Violent crime is fairly low, with property crime a little higher.
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