Monterey Real Estate
The Monterey Peninsula homes are generally estates and mansions valued at millions of dollars. The inland areas have been experiencing new home development with new and pre-owned ranch-style homes and horse properties available in various price ranges. Some of the newer developments have homes with golf course views.
Median home prices in Monterey County had risen some $78,000 to $700,000 from early 2005 to early 2006, but with the recent interest rate increases, the market has softened a bit with median home prices in the area now about $685,000. Home prices now average in the low $900,000s compared to nearly one million dollars in the first two months of 2006. Homes for sale in early 2005 sold in an average of just under two months and as of March 2006, are on the market slightly over three months.
Although Monterey County real estate is still “hot”, rising 2006 interest rates are gradually turning a seller’s market into a buyer’s market. As houses remain on the market longer, many sellers may be willing to negotiate the original asking price and buyers may find the number of “good deal” purchases increasing.
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Monterey California Information
Familiar names to anyone knowing California, the cities that comprise Monterey County are located either on the North or South Peninsula or inland in valleys.
Big Sur (South Peninsula)
This is a 90 miles region of California coast line that can easily be described without exaggeration as spectacular or breathtaking. Take Highway One thru Big Sur as it winds high above the Pacific Ocean and visit Point Lobos, a crowning glory in the California State Park System, located four miles South of Carmel at the Northern Gateway to Big Sur.
Carmel (South Peninsula)
The charming village of Carmel, a 26 mile drive North of Big Sur, has for decades been a lure for artists, writers and the like attracted to the beauty and tranquility of the region.
Cannery Row (North Peninsula)
Cannery Row, immortalized in Pulitzer Prizewinning novelist John Steinbeck’s book of the same name and “Sweet Thursday”, is renowned for its multitude of art galleries and its aquarium.
There is no better place to dine for seafood lovers than Fisherman’s Wharf in the North Peninsula of Monterey. Seafood restaurants and markets, barking seals and fishing boats offer a picture postcard scenario, and whale sightings can be unforgettable.
From the world-class golf courses of Pebble Beach to the Salinas Valley, one of the nation’s most important agricultural areas, Monterey County is a place of wondrous diversity and a place anyone would want to call home. Scenic beauty and mild climate have made the cities on the North and South Peninsulas desirable places to live. As a result, the area has been a pro-sellers market for quite some time.
